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2022
Exports $9.85BWorld Rnk 14 / 217
Flag Rnk 10 / 1210
2022
Destination $442M United States
2021 - 2022
FASTEST GROWING MARKET $442MNetherlands
2022
PRODUCT COMPLEXITY IN Packaged Medicaments0.67Rnk 291 / 1025
2022
Imports $9.6BWorld Rnk 12 / 224
Flag Rnk 7 / 1213
2022
Origin $697M United States
2021 - 2022
FASTEST GROWING ORIGIN $697MIreland
2022
ECONOMIC COMPLEXITY of Canada0.92Rnk 31 / 133

About

Exports In 2022, Canada exported $9.85B in Packaged Medicaments, making it the 14th largest exporter of Packaged Medicaments in the world. At the same year, Packaged Medicaments was the 10th most exported product in Canada. The main destination of Packaged Medicaments exports from Canada are: United States ($6.11B), Netherlands ($604M), Japan ($537M), Australia ($399M), and Italy ($318M).

The fastest growing export markets for Packaged Medicaments of Canada between 2021 and 2022 were Netherlands ($442M), Australia ($338M), and United States ($326M).

Imports In 2022, Canada imported $9.6B in Packaged Medicaments, becoming the 12th largest importer of Packaged Medicaments in the world. At the same year, Packaged Medicaments was the 7th most imported product in Canada. Canada imports Packaged Medicaments primarily from: United States ($3.04B), Germany ($1.2B), Ireland ($1.06B), Switzerland ($757M), and Denmark ($631M).

The fastest growing import markets in Packaged Medicaments for Canada between 2021 and 2022 were Ireland ($697M), Germany ($367M), and Denmark ($218M).

Latest Trends

July 2024

About

Overview In July 2024 Canada's Packaged Medicaments exports accounted up to C$937M and imports accounted up to C$1.39B, resulting in a negative trade balance of C$455M. Between July 2023 and July 2024 the exports of Canada's   Packaged Medicaments have increased by C$205M (28.1%) from C$731M to C$937M, while imports increased by C$195M (16.3%) from C$1.2B to C$1.39B.

Destinations In July 2024, Packaged Medicaments were exported mostly to United States (C$732M), Japan (C$74.8M), Belgium (C$14.2M), Italy (C$13.7M), and Netherlands (C$7.71M), and were imported mostly from United States (C$579M), Germany (C$130M), Sweden (C$120M), Switzerland (C$95M), and India (C$56.4M).

Growth In July 2024, the increase in Packaged Medicaments's year-by-year exports was explained primarily by an increase in exports to United States (C$73.1M or 18.6%), Japan (C$20.8M or 43.1%), and China (C$16.6M or 165%). In July 2024, the increase in Packaged Medicaments's year-by-year imports was explained primarily by an increase in imports from Sweden (C$70M or 235%), Denmark (C$54.9M or 122%), and Germany (C$47.3M or 48.3%).

Subnational Monthly Trade

Time Scale
Flow
Color
EXPORT GROWTH (July 2023 - July 2024)C$205M(28.1%)
IMPORT GROWTH (July 2023 - July 2024)C$195M(16.3%)
MAIN EXPORTER (July 2024)OntarioC$768M
MAIN DESTINATION (July 2024)United StatesC$732M

This section shows Packaged Medicaments'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 Packaged Medicaments over time.

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Historical Data

Trade Balance

Color
EXPORTS (2022)$9.85B
IMPORTS (2022)$9.6B
NET TRADE (2022)$247M

In 2022, Canada exported $9.85B in Packaged Medicaments. The main destinations of Canada exports on Packaged Medicaments were United States ($6.11B), Netherlands ($604M), Japan ($537M), Australia ($399M), and Italy ($318M).

In 2022, Canada imported $9.6B in Packaged Medicaments, mainly from United States ($3.04B), Germany ($1.2B), Ireland ($1.06B), Switzerland ($757M), and Denmark ($631M).

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Export Destinations (2022)

Import Origins (2022)

Market Growth

Flow
THE FASTEST GROWING Packaged Medicaments EXPORT MARKETS FOR Canada WERE (2021 - 2022):
Netherlands$442M (272%)
Australia$338M (560%)
United States$326M (5.64%)
THE FASTEST DECLINING MARKETS FOR THE EXPORT OF Packaged Medicaments BY Canada WERE (2021 - 2022):
China-$127M (-39.2%)
Japan-$102M (-16%)
Germany-$33.6M (-30.1%)
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Change in Exports by Market (2021 - 2022)

Market Concentration

View
Flow
Type
In 2022, Canada's main exporting competitors in Packaged Medicaments were:
Germany $74.8B
Switzerland $45.4B
United States $38.2B
In 2022, Canada's main importing competitors in Packaged Medicaments were:
United States $91.3B
Switzerland $32.9B
Germany $32B

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Trade Value of Packaged Medicaments by Exporters

Potential Exports

Potential Exports

Flow
View
TOP EXPORT POTENTIALUnited States+ $2.54B
TOP IMPORT POTENTIALUnited States+ $1.05B

Packaged Medicaments’s highest export potential is United States. With an export gap of $2.54B.   Packaged Medicaments’s highest import potential is United States with an import gap of $1.05B.

See methodology.

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