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2023
Flag → Flag
Exports $2.25BRnk 19 / 215
2023
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Top Product $534MWheat
2023
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Exports $8.65BRnk 16 / 219
2023
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Top Product $539MCars
2023
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Economic Complexity (ECI) ECI 0.9Rnk 30 / 132
2023
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Economic Complexity (ECI) ECI 1.29Rnk 18 / 132
2023
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GDP$2.14TCURRENT US$
Rnk 10 / 195
2013-2023
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GDP GROWTH16%CURRENT US$
Rnk 150 / 195
2023
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 GDP$2.3TCURRENT US$
Rnk 8 / 195
2013-2023
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GDP GROWTH6.86%CURRENT US$
Rnk 165 / 195
2023
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GDP PC $53,431CURRENT US$
Rnk 22 / 195
2013-2023
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GDP PC GROWTH1.51%CURRENT US$
Rnk 152 / 195
2023
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GDP PC$39,003CURRENT US$
Rnk 32 / 196
2013-2023
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GDP PC GROWTH9.11%CURRENT US$
Rnk 136 / 195

About

Canada-Italy Trade: In 2023, Canada exported $2.25B to Italy. The main products that Canada exported to Italy were Wheat ($534M), Packaged Medicaments ($237M), and Planes, Helicopters, and/or Spacecraft ($203M). Over the past 5 years the exports of Canada to Italy have decreased at an annualized rate of 1.03%, from $2.37B in 2018 to $2.25B in 2023.

In 2020, Canada exported services to Italy worth $198M, with Transportation ($76.8M), Travel ($46.2M), and Computer and information services ($33.6M) being the largest in terms of value.

Italy-Canada Trade: In 2023, Italy exported $8.65B to Canada. The main products that Italy exported to Canada were Cars ($539M), Wine ($446M), and Packaged Medicaments ($352M). Over the past 5 years the exports of Italy to Canada have increased at an annualized rate of 5.95%,  from $6.48B in 2018 to $8.65B in 2023.

In 2020, Italy exported services to Canada worth $372M, with Travel ($198M), Other business services ($59.4M), and Transportation ($32.2M) being the largest in terms of value.

Comparison: In 2023,  Canada ranked 30 in the Economic Complexity Index (ECI 0.9), and 10 in total exports ($574B). That same year, Italy ranked 18 in the Economic Complexity Index (ECI 1.29), and 6 in total exports ($638B).

Latest Trends

November, 2024

About

Overview In November 2024, Canada exported C$367M and imported C$888M from Italy, resulting in a negative trade balance of C$521M. Between November 2023 and November 2024 the exports of Canada have increased by C$198M (117%) from C$169M to C$367M, while imports decreased by C$-199M (-18.3%) from C$1.09B to C$888M.

Trade In November 2024, the top exports of Canada to Italy were Wheat (C$135M), Packaged Medicaments (C$17.7M), Dried Legumes (C$11.4M), Gas Turbines (C$9.59M), and X-Ray Equipment (C$3.63M). In November 2024 the top imports of Canada from Italy were Other Heating Machinery (C$140M), Cars (C$64.1M), Wine (C$34.6M), Packaged Medicaments (C$33.6M), and Trunks and Cases (C$27.9M).

Origins In November 2024 the exports of Canada were mainly from Ontario (C$145M), Quebec (C$102M), Saskatchewan (C$76.4M), Alberta (C$27M), and British Columbia (C$5.08M), while imports destinations were mainly Ontario (C$446M), Quebec (C$282M), British Columbia (C$69.5M), Nova Scotia (C$33M), and Alberta (C$32.2M).

Growth In November 2024, the increase in Canada's year-by-year exports to Italy was explained primarily by an increase in product exports in Wheat (C$122M or 956%), Dried Legumes (C$5.87M or 107%), and Gas Turbines (C$4.56M or 90.9%). In November 2024, the decrease in Canada's year-by-year imports  from Italy was explained primarily by an decrease in product imports  in Wine (C$-15.9M or -31.5%), Platinum (C$-11.1M or -73.7%), and Lifting Machinery (C$-6.23M or -51.3%).

Latest Trade

Time Scale
Flow
Value
Depth
EXPORT GROWTH (November 2023 - November 2024)C$198M(117%)
IMPORT GROWTH (November 2023 - November 2024)C$-199M(-18.3%)
MAIN EXPORTER (November 2024)OntarioC$145M

This section shows exports and imports data at subnational level for Canada. Click any date in the line plot, any subnational region in the geomap or any product to explore the exports or imports behavior of Canada over time.

To check Italy and Canada trade dynamics, check the bilateral page.

For full datasets download visit Bulk Download page.

Explore Italy and Canada Data

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Historical Data

Bilateral Trade by Products

Depth
Value

In 2023, Canada exported $2.25B to Italy. The main products exported from Canada to Italy were Wheat ($534M), Packaged Medicaments ($237M), and Planes, Helicopters, and/or Spacecraft ($203M). During the last 5 years the exports of Canada to Italy have decreased at an annualized rate of 1.03%, from $2.37B in 2018 to $2.25B in 2023.

In 2018, Italy exported $8.65B to Canada. The main products exported from Italy to Canada were Cars ($539M), Wine ($446M), and Packaged Medicaments ($352M). During the last 5 years the exports of Italy to Canada have increased at an annualized rate of 5.95%, from $6.48B in 2023 to $8.65B in 2018.

Exports from Canada (Flag) to Italy (Flag) (2023)

Exports from Italy (Flag) to Canada (Flag) (2023)

Market Competitiveness

Color
Canada
Top DestinationUnited States$410B
Italy
Top DestinationGermany$71.4B

This map shows whether countries import more from Canada or Italy. Each country is colored based on the difference in imports they receive from Canada and Italy or the difference in the growth in imports.

In 2023, countries that imported more from Canada than Italy included United States ($410B), China ($31.1B), and Japan ($13.4B).

In 2023, countries that imported more from Italy than Canada included Germany ($71.4B), France ($61.1B), and Spain ($30.1B).

Difference in imports from Italy (Flag) and Canada (Flag) (2023)

Comparative Advantage Canada - Italy

Flow
Scale

This chart compares trade between Canada and Italy by product, considering products traded by both, Canada and Italy.

During 2023, Canada had a large net trade with Italy in the exports of Vegetable Products ($771M), Chemical Products ($342M), and Transportation ($300M).

During 2018, Italy had a large net trade with Canada in the exports of Machines ($2.5B), Foodstuffs ($1.02B), and Chemical Products ($917M).

Potential Exports

Potential Exports

Depth
View
Sort By
Top Product Potential Canada Italy+$158MCrude Petroleum
Top Product Potential Italy Canada+$180MCars

We estimate the export potential of an economy for each product and destination using an extension of the bilateral relatedness model of Jun et al. (2019).This extended gravity model considers similarities among products and geographies and explains more than 50% of the variance in future trade flows.

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Bilateral Service Trade

In 2020, Canada exported services to Italy worth $198M, with Transportation ($76.8M), Travel ($46.2M), and Computer and information services ($33.6M) being the largest in terms of value.

In 2020, Italy exported services to Canada worth $372M, with Travel ($198M), Other business services ($59.4M), and Transportation ($32.2M) being the largest in terms of value.

Service trade data is presented based on availability.

Services Exports from Canada (Flag) to Italy (Flag) (2020)

Services Exports from Italy (Flag) to Canada (Flag) (2020)

Service Trade

Economic Complexity

Competitive Landscape

This visualization shows the product space at the HS4 level with the flags of Canada and Italy. This means that a dot/product with the flag of Canada indicates it has a comparative advantage over Italy. Similarly, a dot/product with the flag of Italy indicates it has a comparative advantage over Canada.

Product Space of Canada (Flag) and Italy (Flag) (2023)

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