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2022
Economic Complexity
Trade 0.92Rank 31 of 133
2021
Economic Complexity
Technology 1.2Rank 11 of 96
2022
Economic Complexity
Research 2.26Rank 3 of 135
2022
Product
Exports | Imports $587B | $548B9 of 226 |  12 of 226
2022
Per Capita Product
Exports | Imports $15.1k | $14.1k31 of 220 |  41 of 220

About

Overview In 2022, Canada was the number 9 economy in the world in terms of GDP (current US$), the number 9 in total exports, the number 12 in total imports, the number 14 economy in terms of GDP per capita (current US$) and the number 31 most complex economy according to the Economic Complexity Index (ECI) .

Exports The top exports of Canada are Crude Petroleum ($123B), Cars ($29.4B), Petroleum Gas ($24.3B), Refined Petroleum ($17.2B), and Gold ($14.7B), exporting mostly to United States ($438B), China ($25.4B), Japan ($14.3B), United Kingdom ($12.9B), and Mexico ($7.39B).

In 2022, Canada was the world's biggest exporter of Potassic Fertilizers ($13.4B), Sawn Wood ($11B), Raw Aluminium ($9.37B), Rapeseed Oil ($4.86B), and Particle Board ($3.38B)

Imports The top imports of Canada are Cars ($31.9B), Refined Petroleum ($19.8B), Motor vehicles; parts and accessories (8701 to 8705) ($17.4B), Delivery Trucks ($17.3B), and Crude Petroleum ($16.8B), importing mostly from United States ($308B), China ($62.1B), Mexico ($22.2B), Germany ($14.1B), and Japan ($9.87B).

In 2022, Canada was the world's biggest importer of Aluminium Oxide ($1.75B), Aqueous Paints ($663M), Carbon-based Electronics ($603M), Railway Freight Cars ($581M), and Iron Radiators ($564M)

Location Canada borders United States by land and Greenland and Saint Pierre and Miquelon by sea.

Latest Trends

September, 2024

About

Overview In September 2024 Canada exported C$59.7B and imported C$62.7B, resulting in a negative trade balance of C$3.07B. Between September 2023 and September 2024 the exports of Canada have increased by C$281M (0.47%) from C$59.4B to C$59.7B, while imports decreased by C$-913M (-1.43%) from C$63.7B to C$62.7B.

Trade In September 2024, the top exports of Canada were Crude Petroleum (C$12.5B), Cars (C$3.36B), Gold (C$2.78B), Refined Petroleum (C$1.45B), and Planes, Helicopters, and/or Spacecraft (C$1.42B). In September 2024 the top imports of Canada were Cars (C$4.14B), Delivery Trucks (C$3.01B), Commodities not elsewhere specified (C$2.6B), Motor vehicles; parts and accessories (8701... (C$2.1B), and Refined Petroleum (C$1.76B).

Origins In September 2024 the exports of Canada were mainly from Ontario (C$20.5B), Alberta (C$15.1B), Quebec (C$10.6B), British Columbia (C$4.67B), and Saskatchewan (C$3.58B), while imports destinations were mainly Ontario (C$38.8B), Quebec (C$8.17B), British Columbia (C$6.33B), Alberta (C$3.31B), and Manitoba (C$2.44B).

Destinations In September 2024, Canada exported mostly to United States (C$45.6B), China (C$2.52B), United Kingdom (C$2.31B), Japan (C$1.35B), and Mexico (C$585M), and imported mostly from United States (C$31.3B), China (C$7.67B), Mexico (C$3.64B), Germany (C$1.86B), and Japan (C$1.75B).

Growth In September 2024, the increase in Canada's year-by-year exports was explained primarily by an increase in exports to United Kingdom (C$1.31B or 131%), Singapore (C$265M or 286%), and Japan (C$204M or 17.8%), and product exports increase in Crude Petroleum (C$761M or 6.48%), Planes, Helicopters, and/or Spacecraft (C$332M or 30.4%), and Gold (C$297M or 11.9%). In September 2024, the decrease in Canada's year-by-year imports was explained primarily by an decrease in imports from China (C$-776M or -9.19%), United States (C$-351M or -1.11%), and Mexico (C$-227M or -5.88%), and product imports decrease in Cars (C$-638M or -13.4%), Motor vehicles; parts and accessories (8701... (C$-491M or -18.9%), and Vaccines, blood, antisera, toxins and cultures (C$-239M or -25.4%).

Latest Trade

Time Scale
Flow
Color
Depth
EXPORT GROWTH (September 2023 - September 2024)C$281M(0.47%)
IMPORT GROWTH (September 2023 - September 2024)C$-913M(-1.43%)
MAIN EXPORTER (September 2024)OntarioC$20.5B
MAIN DESTINATION (September 2024)United StatesC$45.6B

This section shows exports and imports data at subnational level for Canada. Click any date in the line plot, any subnational region in the geomap, or any product, destination or origin country to explore the exports or imports behavior of Canada over time.

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Historical Data

Yearly Trade

Flow
Color
Depth
Top Export (2022)Crude Petroleum$123B
Top Destination (2022)United States$438B

In 2022, Canada exported a total of $587B, making it the number 9 exporter in the world. During the last five reported years the exports of Canada have changed by $181B from $406B in 2017 to $587B in 2022.

The most recent exports are led by Crude Petroleum ($123B), Cars ($29.4B), Petroleum Gas ($24.3B), Refined Petroleum ($17.2B), and Gold ($14.7B). The most common destination for the exports of Canada are United States ($438B), China ($25.4B), Japan ($14.3B), United Kingdom ($12.9B), and Mexico ($7.39B).

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Exports (2022)
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Destinations (2022)
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Market Growth

Flow
View
Growth
Fastest Growing Export Markets (2021 - 2022)
United States$81.2B (+ 22.8%)
China$2.9B (+ 12.9%)
Japan$2.39B (+ 20.1%)
Fastest Growing Import Markets (2021 - 2022)
United States$43.9B (+ 16.6%)
China$4.88B (+ 8.52%)
Mexico$4.49B (+ 25.3%)

Total Export Growth by Market (2021 - 2022)

Potential Exports

Potential Exports

Type
Flow
Depth
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Service Trade

Service Trade

Canada Exports Services (2020)$62.1B
Canada Imports Services (2020)$71.7B

In 2020, Canada exported $62.1B worth of services. The top services exported by Canada in 2020 were Travel ($13.5B), Computer and information services ($10.5B), Transportation ($10.2B), Financial services ($10B), and Royalties and license fees ($7.21B).

The top services imported by Canada in 2020 were Transportation ($17.3B), Royalties and license fees ($13.7B), Travel ($12.1B), Financial services ($9.86B), and Computer and information services ($6.63B).

Service Exports (2020)

Service Imports (2020)

Economic Complexity

Overview

Economic Complexity (Trade)0.92Rank 31 of 133
Economic Complexity (Technology)1.2Rank 11 of 96
Economic Complexity (Research)2.26Rank 3 of 135

Comparison Map

Color

This section shows exports, imports and economic complexity data at the subnational level for Canada. Click any of the Province in the geomap to visit the specific subnational profile.

The top territories of Canada according to its Economic Complexity Index are Ontario (0.088), Quebec (-0.022), and British Columbia (-0.12).

The principal exporters of Canada were Ontario (C$251B), Alberta (C$189B), and Quebec (C$115B).

The same year,  the principal importers of Canada were Ontario (C$456B), Quebec (C$103B), and British Columbia (C$73.7B).

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Most Specialized Products by RCA Index

Canada has a high level of specialization in Semi chemical Woodpulp (20.9), Aircraft Launch Gear (18.5), Potassic Fertilizers (16.5), Oats (15.5), and Sulfite Chemical Woodpulp (14.5). Specialization is measured using RCA, an index that takes the ratio between Canada observed and expected exports in each product.

Most Complex Products by PCI

The highest complexity exports of Canada according to the product complexity index (PCI) are Machinery; for working rubber or plastics or for the manufacture of products... (1.71), Fork-lift and other works trucks; fitted with lifting or handling equipment (1.5), Navigational instruments and appliances; direction finding compasses (1.45), Moulding boxes for metal foundry, moulding patterns, moulds for metals (excluding ingot... (1.36), and Liquid crystal devices not constituting articles provided for more specifically in other... (1.21). PCI measures the knowledge intensity of a product by considering the knowledge intensity of its exporters.

Export Opportunities by Relatedness

The top export opportunities for Canada according to the relatedness index, were Nitrogenous Fertilizers (0.3), Refined Petroleum (0.28), Scrap Lead (0.28), Concentrated Milk (0.28), and Fermented Milk Products (0.28). Relatedness measures the distance between a country's current exports and each product. The barchart show only products that Canada is not specialized in.

Product Space

The product space is a network connecting products that are likely to be co-exported. The product space can be used to predict future exports, since countries are more likely to start exporting products that are related to current exports. Relatedness measures the distance between a product, and all of the products a country currently specializes in.

Relatedness Space

This network shows the products most related to the production structure of Canada. These are products that tend to be co-exported with the products that Canada exports. Higher relatedness values ​​indicate greater knowledge, which predicts a greater probability of exporting that product in the future.

Relatedness Space (2022)

Diversification Frontier

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Depth

The Complexity-Relatedness diagram compares the risk vs strategic value of a country's potential export oppotunities. Relatedness is predictive of the probability that a country increases its exports in a product. Complexity, is associated with higher levels of income, economic growth, less income inequality, and lower greenhouse emissions.

Diversification Frontier

Economic Complexity Ranking

Methodology
Scale

During the last 20 years Canada's⁩ ⁨economy has become relatively less complex, moving from the ⁩⁨19th to the 31st⁩ position in the ECI rank.

These economic complexity rankings use 6 digit exports classified according to the HS96 classification. We consider only countries with population of at least 1 million and exports of at least $1 billion, and products with world trade over $500 million. To explore different rankings and vary these parameters visit the custom rankings section.

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ECI (Trade) Ranking by Country

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