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2022
Exports $105MWorld Rnk 8 / 100
Flag Rnk 385 / 1210
2022
Destination $73.5M United States
2021 - 2022
FASTEST GROWING MARKET $73.5MUnited States
2022
PRODUCT COMPLEXITY IN Magnesium0.95Rnk 193 / 1025
2022
Imports $477MWorld Rnk 2 / 168
Flag Rnk 232 / 1213
2022
Origin $204M China
2021 - 2022
FASTEST GROWING ORIGIN $204MChina
2022
ECONOMIC COMPLEXITY of Canada0.92Rnk 31 / 133

About

Exports In 2022, Canada exported $105M in Magnesium, making it the 8th largest exporter of Magnesium in the world. At the same year, Magnesium was the 385th most exported product in Canada. The main destination of Magnesium exports from Canada are: United States ($99.6M), Brazil ($2.12M), United Kingdom ($1.09M), Poland ($636k), and China ($322k).

The fastest growing export markets for Magnesium of Canada between 2021 and 2022 were United States ($73.5M), Brazil ($2.11M), and United Kingdom ($994k).

Imports In 2022, Canada imported $477M in Magnesium, becoming the 2nd largest importer of Magnesium in the world. At the same year, Magnesium was the 232nd most imported product in Canada. Canada imports Magnesium primarily from: China ($406M), United States ($34.1M), Israel ($24.4M), Germany ($2.8M), and Mexico ($2.33M).

The fastest growing import markets in Magnesium for Canada between 2021 and 2022 were China ($204M), Israel ($5.21M), and Mexico ($2.29M).

Latest Trends

August 2024

About

Overview In August 2024 Canada's Magnesium exports accounted up to C$4.56M and imports accounted up to C$28.9M, resulting in a negative trade balance of C$24.3M. Between August 2023 and August 2024 the exports of Canada's   Magnesium have decreased by C$-1.35M (-22.8%) from C$5.91M to C$4.56M, while imports increased by C$1.47M (5.35%) from C$27.4M to C$28.9M.

Destinations In August 2024, Magnesium were exported mostly to United States (C$4.51M) and China (C$50.7k), and were imported mostly from China (C$27.1M), United States (C$785k), United Kingdom (C$440k), Canada (C$385k), and South Korea (C$124k).

Growth In August 2024, the decrease in Magnesium's year-by-year exports was explained primarily by a decrease in exports to United States (C$-2.56M or -29.6%). In August 2024, the increase in Magnesium's year-by-year imports was explained primarily by an increase in imports from South Korea (C$85.1k or 53.8%), Canada (C$25.6k or 176%), and India (C$439 or 152%).

Subnational Monthly Trade

Time Scale
Flow
Color
EXPORT GROWTH (August 2023 - August 2024)C$-1.35M(-22.8%)
IMPORT GROWTH (August 2023 - August 2024)C$1.47M(5.35%)
MAIN EXPORTER (August 2024)OntarioC$6.43M
MAIN DESTINATION (August 2024)United StatesC$4.51M

This section shows Magnesium'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 Magnesium over time.

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Historical Data

Trade Balance

Color
EXPORTS (2022)$105M
IMPORTS (2022)$477M
NET TRADE (2022)-$372M

In 2022, Canada exported $105M in Magnesium. The main destinations of Canada exports on Magnesium were United States ($99.6M), Brazil ($2.12M), United Kingdom ($1.09M), Poland ($636k), and China ($322k).

In 2022, Canada imported $477M in Magnesium, mainly from China ($406M), United States ($34.1M), Israel ($24.4M), Germany ($2.8M), and Mexico ($2.33M).

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Export Destinations (2022)

Import Origins (2022)

Market Growth

Flow
THE FASTEST GROWING Magnesium EXPORT MARKETS FOR Canada WERE (2021 - 2022):
United States$73.5M (282%)
Brazil$2.11M (61k%)
United Kingdom$994k (1.02k%)
THE FASTEST DECLINING MARKETS FOR THE EXPORT OF Magnesium BY Canada WERE (2021 - 2022):
Argentina-$212k (-91.7%)
Slovakia-$208k (-100%)
Italy-$78.2k (-100%)
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Change in Exports by Market (2021 - 2022)

Market Concentration

View
Flow
Type
In 2022, Canada's main exporting competitors in Magnesium were:
China $2.46B
Israel $231M
Turkey $152M
In 2022, Canada's main importing competitors in Magnesium were:
United States $877M
Germany $211M

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Trade Value of Magnesium by Exporters

Potential Exports

Potential Exports

Flow
View
TOP EXPORT POTENTIALUnited States+ $12.2M
TOP IMPORT POTENTIALUnited States+ $5.91M

Magnesium’s highest export potential is United States. With an export gap of $12.2M.   Magnesium’s highest import potential is United States with an import gap of $5.91M.

See methodology.

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