United Kingdom (GBR) and Canada (CAN) Trade

2022

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Exports $7.02BRnk 18 / 224

2022

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About

United Kingdom-Canada Trade: In 2022, United Kingdom exported $7.02B to Canada. The main products that United Kingdom exported to Canada were Silver ($1.17B), Refined Petroleum ($571M), and Cars ($553M). Over the past 5 years the exports of United Kingdom to Canada have increased at an annualized rate of 2.5%, from $6.2B in 2017 to $7.02B in 2022.

In 2019, United Kingdom exported services to Canada worth $0, with being the largest in terms of value.

Canada-United Kingdom Trade: In 2022, Canada exported $12.9B to United Kingdom. The main products that Canada exported to United Kingdom were Gold ($7.53B), Crude Petroleum ($1.02B), and Radioactive Chemicals ($526M). Over the past 5 years the exports of Canada to United Kingdom have decreased at an annualized rate of 2.67%, from $14.8B in 2017 to $12.9B in 2022.

In 2020, Canada exported services to United Kingdom worth $2.91B, with Financial services ($1.33B), Transportation ($672M), and Royalties and license fees ($319M) being the largest in terms of value.

Comparison: In 2022, United Kingdom ranked 12 in the Economic Complexity Index (ECI 1.42), and 14 in total exports ($469B). That same year, Canada ranked 31 in the Economic Complexity Index (ECI 0.92), and 9 in total exports ($587B).

Latest Trends

July, 2024

About

Overview In July 2024, United Kingdom exported £490M and imported £1.12B from Canada, resulting in a negative trade balance of £634M. Between July 2023 and July 2024 the exports of United Kingdom have increased by £50.4M (11.5%) from £439M to £490M, while imports increased by £291M (35%) from £832M to £1.12B.

Trade In July 2024, the top exports of United Kingdom to Canada were Commodities not elsewhere specified (£165M), Gold (£93.5M), Planes, Helicopters, and/or Spacecraft (£62.1M), Gas Turbines (£34.6M), and Cars (£31.2M). In July 2024 the top imports of United Kingdom from Canada were Gold (£681M), Crude Petroleum (£163M), Commodities not elsewhere specified (£128M), Fuel Wood (£26.6M), and Gas Turbines (£25.3M).

Origins In July 2024 the exports of United Kingdom were mainly from Liverpool (£107M), Middlesbrough (£97.9M), London Heathrow Airport (£76M), Southampton (£70.7M), and Immingham (£26.2M), while imports destinations were mainly London Heathrow Airport (£831M), Liverpool (£129M), Southampton (£54M), London Stansted Airport (£23.9M), and London (£14.9M).

Growth In July 2024, the increase in United Kingdom's year-by-year exports to Canada was explained primarily by an increase in product exports in Commodities not elsewhere specified (£163M or 8.43k%), Gold (£90.7M or 3.3k%), and Cars (£14.2M or 83.5%). In July 2024, the increase in United Kingdom's year-by-year imports from Canada was explained primarily by an increase in product imports in Commodities not elsewhere specified (£119M or 1.36k%), Crude Petroleum (£80.6M or 97.9%), and Gold (£62.6M or 10.1%).

Latest Trade

Time Scale

Year

Quarter

Month

Flow

Exports

Imports

Value

Trade Value

Growth

Growth (%)

Depth

HS2

HS4

HS6

EXPORT GROWTH (July 2023 - July 2024)£50.4M(11.5%)

IMPORT GROWTH (July 2023 - July 2024)£291M(35%)

MAIN EXPORTER (July 2024)Liverpool£107M

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

To check Canada and United Kingdom trade dynamics, check the bilateral page.

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Historical Data

Bilateral Trade by Products

Depth

HS2

HS4

HS6

Value

Trade

Growth

Growth (%)

Year

In 2022, United Kingdom exported $7.02B to Canada. The main products exported from United Kingdom to Canada were Silver ($1.17B), Refined Petroleum ($571M), and Cars ($553M). During the last 5 years the exports of United Kingdom to Canada have increased at an annualized rate of 2.5%, from $6.2B in 2017 to $7.02B in 2022.

In 2017, Canada exported $12.9B to United Kingdom. The main products exported from Canada to United Kingdom were Gold ($7.53B), Crude Petroleum ($1.02B), and Radioactive Chemicals ($526M). During the last 5 years the exports of Canada to United Kingdom have decreased at an annualized rate of 2.67%, from $14.8B in 2022 to $12.9B in 2017.

Exports from United Kingdom () to Canada () (2022)

Exports from Canada () to United Kingdom () (2022)

Market Competitiveness

Color

Exports

Export Growth

Section

Year

United Kingdom
Top DestinationUnited States$61.8B

Canada
Top DestinationUnited States$438B

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

In 2022, countries that imported more from United Kingdom than Canada included Netherlands ($41.9B), Germany ($40.6B), and Ireland ($32.6B).

In 2022, countries that imported more from Canada than United Kingdom included United States ($438B), Japan ($14.3B), and Mexico ($7.39B).

Difference in imports from Canada () and United Kingdom () (2022)

Comparative Advantage United Kingdom - Canada

Flow

Section

HS2

HS4

Scale

Log

Linear

Year

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

During 2022, United Kingdom had a large net trade with Canada in the exports of Transportation ($1.41B), Machines ($1.24B), and Precious Metals ($1.23B).

During 2017, Canada had a large net trade with United Kingdom in the exports of Precious Metals ($7.57B), Mineral Products ($1.38B), and Chemical Products ($822M).

Potential Exports

Depth

Section

HS2

HS4

View

Top 20

Top 15

Top 10

Sort By

Highest Potential

Most Saturated

Section

Top Product Potential United Kingdom Canada+$310MCars

Top Product Potential Canada United Kingdom+$794MCrude Petroleum

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

Can Year

Gbr Year

In 2019, United Kingdom exported services to Canada worth $0, with being the largest in terms of value.

In 2020, Canada exported services to United Kingdom worth $2.91B, with Financial services ($1.33B), Transportation ($672M), and Royalties and license fees ($319M) being the largest in terms of value.

Service trade data is presented based on availability.

Services Exports from United Kingdom () to Canada () (2019)

Services Exports from Canada () to United Kingdom () (2020)

Service Trade

Economic Complexity

Competitive Landscape

Year

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

Product Space of United Kingdom () and Canada () (2022)

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