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2023
Exports $67.1MWorld Rnk 17 / 160
Flag Rnk 443 / 1212
2023
Destination $8.84M United States
2022 - 2023
FASTEST GROWING MARKET $8.84MUnited States
2023
PRODUCT COMPLEXITY IN Electric Furnaces1.62Rnk 31 / 1025
2023
Imports $185MWorld Rnk 8 / 206
Flag Rnk 402 / 1211
2023
Origin $23.9M United States
2022 - 2023
FASTEST GROWING ORIGIN $23.9MVietnam
2023
ECONOMIC COMPLEXITY of Canada0.9Rnk 30 / 132

About

Exports In 2023, Canada exported $67.1M in Electric Furnaces, making it the 17th largest exporter of Electric Furnaces in the world. At the same year, Electric Furnaces was the 443rd most exported product in Canada. The main destination of Electric Furnaces exports from Canada are: United States ($37.8M), Japan ($3.5M), China ($2.57M), Netherlands ($2.48M), and Ireland ($2.24M).

The fastest growing export markets for Electric Furnaces of Canada between 2022 and 2023 were United States ($8.84M), Japan ($2.88M), and Germany ($1.1M).

Imports In 2023, Canada imported $185M in Electric Furnaces, becoming the 8th largest importer of Electric Furnaces in the world. At the same year, Electric Furnaces was the 402nd most imported product in Canada. Canada imports Electric Furnaces primarily from: United States ($56.3M), South Korea ($25.2M), Vietnam ($24M), Thailand ($16.2M), and China ($13.1M).

The fastest growing import markets in Electric Furnaces for Canada between 2022 and 2023 were Vietnam ($23.9M), South Korea ($23.9M), and Thailand ($12.3M).

COMPANIES In 2024, leading companies such as LG Electronics (1) were at the forefront of shipping Electric Furnaces from Canada to the United States.

Latest Trends

December 2024

About

Overview In December 2024 Canada's Electric Furnaces exports accounted up to C$9.78M and imports accounted up to C$13.9M, resulting in a negative trade balance of C$4.11M. Between December 2023 and December 2024 the exports of Canada's   Electric Furnaces have increased by C$3.16M (47.7%) from C$6.62M to C$9.78M, while imports decreased by C$-52.6M (-79.1%) from C$66.5M to C$13.9M.

Destinations In December 2024, Electric Furnaces were exported mostly to United States (C$3.62M), China (C$3.14M), India (C$506k), Spain (C$316k), and Netherlands (C$312k), and were imported mostly from United States (C$9.03M), Italy (C$1.04M), Germany (C$1.03M), Austria (C$829k), and United Kingdom (C$539k).

Growth In December 2024, the increase in Electric Furnaces's year-by-year exports was explained primarily by an increase in exports to Netherlands (C$222k or 497%), Japan (C$164k or 301%), and Chinese Taipei (C$46.7k or 2.41k%). In December 2024, the decrease in Electric Furnaces's year-by-year imports was explained primarily by a decrease in imports from United Kingdom (C$-104k or -32.8%), Italy (C$-55.8k or -2.02%), and China (C$-41.6k or -7.05%).

Subnational Monthly Trade

Time Scale
Flow
Color
EXPORT GROWTH (December 2023 - December 2024)C$3.16M(47.7%)
IMPORT GROWTH (December 2023 - December 2024)C$-52.6M(-79.1%)
MAIN EXPORTER (December 2024)
MAIN DESTINATION (December 2024)United StatesC$3.62M

This section shows Electric Furnaces's exports and imports data at subnational level for Canada. Click any date in the line plot, any subnational region in the geomap, or any destination or origin country to explore the exports or imports behavior of Electric Furnaces over time.

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Historical Data

Trade Balance

Color
EXPORTS (2023)$67.1M
IMPORTS (2023)$185M
NET TRADE (2023)-$118M

In 2023, Canada exported $67.1M in Electric Furnaces. The main destinations of Canada exports on Electric Furnaces were United States ($37.8M), Japan ($3.5M), China ($2.57M), Netherlands ($2.48M), and Ireland ($2.24M).

In 2023, Canada imported $185M in Electric Furnaces, mainly from United States ($56.3M), South Korea ($25.2M), Vietnam ($24M), Thailand ($16.2M), and China ($13.1M).

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Export Destinations (2023)

Import Origins (2023)

Market Growth

Flow
THE FASTEST GROWING Electric Furnaces EXPORT MARKETS FOR Canada WERE (2022 - 2023):
United States$8.84M (30.6%)
Japan$2.88M (468%)
Germany$1.1M (382%)
THE FASTEST DECLINING MARKETS FOR THE EXPORT OF Electric Furnaces BY Canada WERE (2022 - 2023):
Italy-$1.04M (-48.8%)
Indonesia-$970k (-65.4%)
New Zealand-$537k (-84.9%)
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Change in Exports by Market (2022 - 2023)

Market Concentration

View
Flow
Type
In 2023, Canada's main exporting competitors in Electric Furnaces were:
China $1.28B
Germany $988M
Italy $638M
In 2023, Canada's main importing competitors in Electric Furnaces were:
United States $739M
China $650M
Indonesia $304M

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Trade Value of Electric Furnaces by Exporters

Potential Exports

Potential Exports

Flow
View
TOP EXPORT POTENTIALUnited States+ $13.9M
TOP IMPORT POTENTIALUnited States+ $7.53M

Electric Furnaces’s highest export potential is United States. With an export gap of $13.9M.   Electric Furnaces’s highest import potential is United States with an import gap of $7.53M.

See methodology.

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