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2023
Exports $122MWorld Rnk 12 / 95
Flag Rnk 348 / 1212
2023
Destination $9.49M United States
2022 - 2023
FASTEST GROWING MARKET $9.49MUnited States
2023
PRODUCT COMPLEXITY IN Steel Ingots0.44Rnk 392 / 1025
2023
Imports $192MWorld Rnk 5 / 166
Flag Rnk 393 / 1211
2023
Origin $50.8M Romania
2022 - 2023
FASTEST GROWING ORIGIN $50.8MRomania
2023
ECONOMIC COMPLEXITY of Canada0.9Rnk 30 / 132

About

Exports In 2023, Canada exported $122M in Steel Ingots, making it the 12th largest exporter of Steel Ingots in the world. At the same year, Steel Ingots was the 348th most exported product in Canada. The main destination of Steel Ingots exports from Canada are: United States ($94.3M), South Korea ($6.85M), India ($5.35M), China ($5.22M), and Portugal ($2.49M).

The fastest growing export markets for Steel Ingots of Canada between 2022 and 2023 were United States ($9.49M), India ($3.68M), and Brazil ($996k).

Imports In 2023, Canada imported $192M in Steel Ingots, becoming the 5th largest importer of Steel Ingots in the world. At the same year, Steel Ingots was the 393rd most imported product in Canada. Canada imports Steel Ingots primarily from: Romania ($50.8M), Argentina ($37.6M), Italy ($32.1M), United States ($28M), and Brazil ($23.3M).

The fastest growing import markets in Steel Ingots for Canada between 2022 and 2023 were Romania ($50.8M), Italy ($32M), and Mexico ($15.6M).

Latest Trends

December 2024

About

Overview In December 2024 Canada's Steel Ingots exports accounted up to C$11M and imports accounted up to C$43.9M, resulting in a negative trade balance of C$32.9M. Between December 2023 and December 2024 the exports of Canada's   Steel Ingots have increased by C$2.43M (28.2%) from C$8.6M to C$11M, while imports increased by C$24.8M (130%) from C$19.1M to C$43.9M.

Destinations In December 2024, Steel Ingots were exported mostly to United States (C$6.52M), China (C$1.16M), South Korea (C$1.1M), India (C$776k), and Portugal (C$695k), and were imported mostly from Italy (C$21.3M), Argentina (C$20.5M), United States (C$2.04M), Mexico (C$58.3k), and Japan (C$7.92k).

Growth In December 2024, the increase in Steel Ingots's year-by-year exports was explained primarily by an increase in exports to South Korea (C$1.03M or 1.77k%), India (C$73.7k or 27.8%), and United Kingdom (C$46k or 51.1%). In December 2024, the increase in Steel Ingots's year-by-year imports was explained primarily by an increase in imports from United States (C$659k or 33.3%), Mexico (C$145k or 662%), and China (C$132k or 991%).

Subnational Monthly Trade

Time Scale
Flow
Color
EXPORT GROWTH (December 2023 - December 2024)C$2.43M(28.2%)
IMPORT GROWTH (December 2023 - December 2024)C$24.8M(130%)
MAIN EXPORTER (December 2024)
MAIN DESTINATION (December 2024)United StatesC$6.52M

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 (2023)$122M
IMPORTS (2023)$192M
NET TRADE (2023)-$70.4M

In 2023, Canada exported $122M in Steel Ingots. The main destinations of Canada exports on Steel Ingots were United States ($94.3M), South Korea ($6.85M), India ($5.35M), China ($5.22M), and Portugal ($2.49M).

In 2023, Canada imported $192M in Steel Ingots, mainly from Romania ($50.8M), Argentina ($37.6M), Italy ($32.1M), United States ($28M), and Brazil ($23.3M).

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Export Destinations (2023)

Import Origins (2023)

Market Growth

Flow
THE FASTEST GROWING Steel Ingots EXPORT MARKETS FOR Canada WERE (2022 - 2023):
United States$9.49M (11.2%)
India$3.68M (220%)
Brazil$996k (163%)
THE FASTEST DECLINING MARKETS FOR THE EXPORT OF Steel Ingots BY Canada WERE (2022 - 2023):
Mexico-$1.56M (-54.4%)
Italy-$662k (-48.7%)
United Kingdom-$178k (-11.4%)
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Change in Exports by Market (2022 - 2023)

Market Concentration

View
Flow
Type
In 2023, Canada's main exporting competitors in Steel Ingots were:
Brazil $1.1B
Mexico $714M
Germany $409M
In 2023, Canada's main importing competitors in Steel Ingots were:
United States $2.26B
Italy $376M
Germany $328M

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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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