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2022
Exports $108MWorld Rnk 13 / 91
Flag Rnk 380 / 1210
2022
Destination $14.3M United States
2021 - 2022
FASTEST GROWING MARKET $14.3MUnited States
2022
PRODUCT COMPLEXITY IN Steel Ingots0.23Rnk 480 / 1025
2022
Imports $139MWorld Rnk 8 / 163
Flag Rnk 507 / 1213
2022
Origin $4.43M Argentina
2021 - 2022
FASTEST GROWING ORIGIN $4.43MUnited States
2022
ECONOMIC COMPLEXITY of Canada0.92Rnk 31 / 133

About

Exports In 2022, Canada exported $108M in Steel Ingots, making it the 13th largest exporter of Steel Ingots in the world. At the same year, Steel Ingots was the 380th most exported product in Canada. The main destination of Steel Ingots exports from Canada are: United States ($84.6M), South Korea ($6.24M), China ($4.59M), Mexico ($2.87M), and Italy ($2.01M).

The fastest growing export markets for Steel Ingots of Canada between 2021 and 2022 were United States ($14.3M), Mexico ($2.42M), and Italy ($1.1M).

Imports In 2022, Canada imported $139M in Steel Ingots, becoming the 8th largest importer of Steel Ingots in the world. At the same year, Steel Ingots was the 507th most imported product in Canada. Canada imports Steel Ingots primarily from: Argentina ($89.8M), United States ($30.8M), Brazil ($12.8M), Germany ($1.89M), and Mexico ($1.28M).

The fastest growing import markets in Steel Ingots for Canada between 2021 and 2022 were United States ($4.43M), Germany ($942k), and China ($356k).

Latest Trends

August 2024

About

Overview In August 2024 Canada's Steel Ingots exports accounted up to C$10.1M and imports accounted up to C$112M, resulting in a negative trade balance of C$102M. Between August 2023 and August 2024 the exports of Canada's   Steel Ingots have decreased by C$-5.48M (-35.1%) from C$15.6M to C$10.1M, while imports increased by C$67.7M (153%) from C$44.3M to C$112M.

Destinations In August 2024, Steel Ingots were exported mostly to United States (C$9.1M), China (C$713k), South Korea (C$225k), Poland (C$88.3k), and India (C$6.55k), and were imported mostly from Italy (C$46.2M), Argentina (C$35.3M), Romania (C$19.1M), Brazil (C$6.9M), and United States (C$4.17M).

Growth In August 2024, the decrease in Steel Ingots's year-by-year exports was explained primarily by a decrease in exports to China (C$-399k or -49.7%) and South Korea (C$-352k or -85.8%). In August 2024, the increase in Steel Ingots's year-by-year imports was explained primarily by an increase in imports from Germany (C$257k or 563%), India (C$15.9k or 21.2k%), and United Kingdom (C$3.36k or 230%).

Subnational Monthly Trade

Time Scale
Flow
Color
EXPORT GROWTH (August 2023 - August 2024)C$-5.48M(-35.1%)
IMPORT GROWTH (August 2023 - August 2024)C$67.7M(153%)
MAIN EXPORTER (August 2024)SaskatchewanC$11.2M
MAIN DESTINATION (August 2024)United StatesC$9.1M

This section shows Steel Ingots'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 Steel Ingots over time.

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Historical Data

Trade Balance

Color
EXPORTS (2022)$108M
IMPORTS (2022)$139M
NET TRADE (2022)-$31.3M

In 2022, Canada exported $108M in Steel Ingots. The main destinations of Canada exports on Steel Ingots were United States ($84.6M), South Korea ($6.24M), China ($4.59M), Mexico ($2.87M), and Italy ($2.01M).

In 2022, Canada imported $139M in Steel Ingots, mainly from Argentina ($89.8M), United States ($30.8M), Brazil ($12.8M), Germany ($1.89M), and Mexico ($1.28M).

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Export Destinations (2022)

Import Origins (2022)

Market Growth

Flow
THE FASTEST GROWING Steel Ingots EXPORT MARKETS FOR Canada WERE (2021 - 2022):
United States$14.3M (20.3%)
Mexico$2.42M (544%)
Italy$1.1M (120%)
THE FASTEST DECLINING MARKETS FOR THE EXPORT OF Steel Ingots BY Canada WERE (2021 - 2022):
China-$6.27M (-57.8%)
India-$2.4M (-58%)
South Korea-$2.22M (-26.3%)
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Change in Exports by Market (2021 - 2022)

Market Concentration

View
Flow
Type
In 2022, Canada's main exporting competitors in Steel Ingots were:
Brazil $811M
Germany $381M
Italy $359M
In 2022, Canada's main importing competitors in Steel Ingots were:
United States $1.68B
Germany $387M
Italy $358M

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Trade Value of Steel Ingots by Exporters

Potential Exports

Potential Exports

Flow
View
TOP EXPORT POTENTIALUnited States+ $30.8M
TOP IMPORT POTENTIALBrazil+ $3.56M

Steel Ingots’s highest export potential is United States. With an export gap of $30.8M.   Steel Ingots’s highest import potential is Brazil with an import gap of $3.56M.

See methodology.

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