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2022
Exports $8.54BWorld Rnk 17 / 226
Flag Rnk 13 / 21
2022
Destination $556M United States
2021 - 2022
FASTEST GROWING MARKET $556MUnited States
2022
PRODUCT COMPLEXITY IN Instruments2.12Rnk 3 / 1025
2022
Imports $15.5BWorld Rnk 14 / 226
Flag Rnk 12 / 21
2022
Origin $587M United States
2021 - 2022
FASTEST GROWING ORIGIN $587MUnited States
2022
ECONOMIC COMPLEXITY of Canada0.92Rnk 31 / 133

About

Exports In 2022, Canada exported $8.54B in Instruments, making it the 17th largest exporter of Instruments in the world. At the same year, Instruments was the 13th most exported product in Canada. The main destination of Instruments exports from Canada are: United States ($4.99B), China ($469M), Germany ($342M), United Kingdom ($290M), and Japan ($208M).

The fastest growing export markets for Instruments of Canada between 2021 and 2022 were United States ($556M), Poland ($83.1M), and United Kingdom ($79M).

Imports In 2022, Canada imported $15.5B in Instruments, becoming the 14th largest importer of Instruments in the world. At the same year, Instruments was the 12th most imported product in Canada. Canada imports Instruments primarily from: United States ($8.3B), China ($1.39B), Mexico ($1.04B), Germany ($696M), and Switzerland ($512M).

The fastest growing import markets in Instruments for Canada between 2021 and 2022 were United States ($587M), Mexico ($193M), and Denmark ($55.4M).

COMPANIES In 2023, leading companies such as Celebrity Cruises (20), Walmart (5), and UPM-Kymmene (2) were at the forefront of shipping Instruments from Canada to the United States.

Latest Trends

June 2024

About

Overview In June 2024 Canada's Instruments exports accounted up to C$864M and imports accounted up to C$1.91B, resulting in a negative trade balance of C$1.04B. Between June 2023 and June 2024 the exports of Canada's   Instruments have increased by C$68.8M (8.65%) from C$795M to C$864M, while imports increased by C$1.98M (0.1%) from C$1.9B to C$1.91B.

Destinations In June 2024, Instruments were exported mostly to United States (C$529M), China (C$51.4M), Germany (C$30.9M), Turkey (C$27.5M), and Japan (C$20.5M), and were imported mostly from United States (C$789M), China (C$177M), Mexico (C$154M), Germany (C$121M), and Switzerland (C$90.9M).

Growth In June 2024, the increase in Instruments's year-by-year exports was explained primarily by an increase in exports to United States (C$50.5M or 12.9%), Poland (C$8.9M or 208%), and China (C$7.02M or 28.6%). In June 2024, the increase in Instruments's year-by-year imports was explained primarily by an increase in imports from United States (C$112M or 19.9%), Germany (C$26.5M or 33.6%), and Mexico (C$26.5M or 24.6%).

Subnational Monthly Trade

Time Scale
Flow
Color
EXPORT GROWTH (June 2023 - June 2024)C$68.8M(8.65%)
IMPORT GROWTH (June 2023 - June 2024)C$1.98M(0.1%)
MAIN DESTINATION (June 2024)United StatesC$529M

This section shows Instruments'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 Instruments over time.

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Historical Data

Trade Balance

Color
EXPORTS (2022)$8.54B
IMPORTS (2022)$15.5B
NET TRADE (2022)-$6.99B

In 2022, Canada exported $8.54B in Instruments. The main destinations of Canada exports on Instruments were United States ($4.99B), China ($469M), Germany ($342M), United Kingdom ($290M), and Japan ($208M).

In 2022, Canada imported $15.5B in Instruments, mainly from United States ($8.3B), China ($1.39B), Mexico ($1.04B), Germany ($696M), and Switzerland ($512M).

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Export Destinations (2022)

Import Origins (2022)

Market Growth

Flow
THE FASTEST GROWING Instruments EXPORT MARKETS FOR Canada WERE (2021 - 2022):
United States$556M (12.5%)
Poland$83.1M (281%)
United Kingdom$79M (37.4%)
THE FASTEST DECLINING MARKETS FOR THE EXPORT OF Instruments BY Canada WERE (2021 - 2022):
Netherlands-$78M (-45.1%)
Ukraine-$33.9M (-86.4%)
Russia-$28.1M (-88.8%)
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Change in Exports by Market (2021 - 2022)

Market Concentration

View
Flow
Type
In 2022, Canada's main exporting competitors in Instruments were:
United States $102B
China $91.6B
Germany $79.1B
In 2022, Canada's main importing competitors in Instruments were:
United States $123B
China $74.1B
Germany $49.9B

Explore Visualizations

Trade Value of Instruments by Exporters

Potential Exports

Potential Exports

Flow
View
TOP EXPORT POTENTIALUnited States+ $1.93B
TOP IMPORT POTENTIALUnited States+ $1.39B

Instruments’s highest export potential is United States. With an export gap of $1.93B.   Instruments’s highest import potential is United States with an import gap of $1.39B.

See methodology.

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