Canada2020 Economic Complexity : 0.93, Rank 29 of 127
2020 Product Exports | Imports: $371B | $395B, 12 of 226 | 11 of 226
2020 Per Capita Product Exports | Imports: $9.75k | $10.4k, 20 of 219 | 24 of 219
2020 Service Exports | Imports : $62.1B | $71.7B, 11 of 65 | 9 of 65
Overview In 2020, Canada was the number 9 economy in the world in terms of GDP (current US$), the number 12 in total exports, the number 11 in total imports, the number 25 economy in terms of GDP per capita (current US$) and the number 29 most complex economy according to the Economic Complexity Index (ECI).
Exports The top exports of Canada are Crude Petroleum ($47.2B), Cars ($31.8B), Gold ($14.4B), Motor vehicles; parts and accessories (8701 to 8705) ($9.06B), and Sawn Wood ($7.69B), exporting mostly to United States ($264B), China ($19.3B), United Kingdom ($13.2B), Japan ($9.44B), and Mexico ($5.26B).
In 2020, Canada was the world's biggest exporter of Sawn Wood ($7.69B), Raw Aluminium ($5.48B), Potassic Fertilizers ($4.85B), Rapeseed ($4.7B), and Dried Legumes ($3.21B)
Imports The top imports of Canada are Cars ($21.7B), Motor vehicles; parts and accessories (8701 to 8705) ($14.6B), Delivery Trucks ($11.6B), Broadcasting Equipment ($9.74B), and Gold ($8.98B), importing mostly from United States ($218B), China ($49.5B), Mexico ($16.1B), Germany ($10.9B), and Japan ($8.14B).
In 2020, Canada was the world's biggest importer of Tanks and Armored vehicles ($924M), Aqueous Paints ($537M), Other Large Iron Pipes ($506M), Cabbages ($454M), and Railroad Ties ($124M)
Location Canada borders United States by land and Greenland and Saint Pierre and Miquelon by sea.
November, 2022
Overview In November 2022 Canada exported C$59.7B and imported C$62.5B, resulting in a negative trade balance of C$2.8B. Between November 2021 and November 2022 the exports of Canada have increased by C$5.84B (10.8%) from C$53.9B to C$59.7B, while imports increased by C$7.58B (13.8%) from C$55B to C$62.5B.
Trade In November 2022, the top exports of Canada were Crude Petroleum (C$11.6B), Cars (C$2.97B), Petroleum Gas (C$2.77B), Gold (C$2.06B), and Refined Petroleum (C$1.65B). In November 2022 the top imports of Canada were Cars (C$3.41B), Delivery Trucks (C$2.24B), Motor vehicles; parts and accessories (8701... (C$2.2B), Refined Petroleum (C$2.06B), and Commodities not elsewhere specified (C$1.93B).
Origins In November 2022 the exports of Canada were mainly from Ontario (C$19.1B), Alberta (C$16.7B), Quebec (C$9.41B), Saskatchewan (C$5.09B), and British Columbia (C$4.44B), while imports destinations were mainly Ontario (C$37.9B), Quebec (C$8.85B), British Columbia (C$6.25B), Alberta (C$3.31B), and Manitoba (C$2.31B).
Destinations In November 2022, Canada exported mostly to United States (C$44.1B), China (C$3.16B), United Kingdom (C$1.59B), Japan (C$1.25B), and Mexico (C$807M), and imported mostly from United States (C$31.3B), China (C$8.03B), Mexico (C$3.51B), Germany (C$1.91B), and Japan (C$1.37B).
Growth In November 2022, the increase in Canada's year-by-year exports was explained primarily by an increase in exports to China (C$519M or 32.2%), Saudi Arabia (C$263M or 101%), and Switzerland (C$156M or 125%), and product exports increase in Sawn Wood (C$701M or 129%), Petroleum Gas (C$429M or 40.7%), and Iron Ore (C$355M or 74.2%). In November 2022, the increase in Canada's year-by-year imports was explained primarily by an increase in imports from China (C$899M or 16.1%), Vietnam (C$166M or 27.9%), and South Korea (C$122M or 18.7%), and product imports increase in Computers (C$261M or 27.4%), Telephones (C$254M or 29.2%), and Gold (C$221M or 29.2%).
EXPORT GROWTH (November 2021 - November 2022): C$5.84B, (10.8%)
IMPORT GROWTH (November 2021 - November 2022): C$7.58B, (13.8%)
MAIN EXPORTER (November 2022): Ontario, C$19.1B
MAIN DESTINATION (November 2022): United States, C$44.1B
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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Top Export (2020): Crude Petroleum, $47.2B
Top Destination (2020): United States, $218B
In 2020, Canada exported a total of $371B, making it the number 12 exporter in the world. During the last five reported years the exports of Canada have changed by -$26.9B from $398B in 2015 to $371B in 2020.
The most recent exports are led by Crude Petroleum ($47.2B), Cars ($31.8B), Gold ($14.4B), Motor vehicles; parts and accessories (8701 to 8705) ($9.06B), and Sawn Wood ($7.69B). The most common destination for the exports of Canada are United States ($264B), China ($19.3B), United Kingdom ($13.2B), Japan ($9.44B), and Mexico ($5.26B).
Fastest Growing Export Markets (2019 - 2020)
Fastest Growing Import Markets (2019 - 2020)
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).
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 (0.13), Quebec (0.0056), and British Columbia (-0.14).
In 2020, the principal exporters of Canada were Ontario (C$187B), Alberta (C$91.5B), and Quebec (C$84.2B).
The same year, the principal importers of Canada were Ontario (C$338B), Quebec (C$76.5B), and British Columbia (C$53.3B).
Canada has a high level of specialization in Semi chemical Woodpulp (23.9), Aircraft Launch Gear (23.5), Oats (22.4), Rapeseed (19.4), and Chlorates and Perchlorates (17.2). Specialization is measured using RCA, an index that takes the ratio between Canada observed and expected exports in each product.
The highest complexity exports of Canada according to the product complexity index (PCI) are Fork-Lifts (1.6), Rubberworking Machinery (1.53), Metal Molds (1.49), Titanium Oxides (1.14), and Newsprint (1.09). PCI measures the knowledge intensity of a product by considering the knowledge intensity of its exporters.
The top export opportunities for Canada according to the relatedness index, are Refined Petroleum (0.29), Scrap Lead (0.29), Raw Iron Bars (0.29), Bran (0.28), and Milk (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.
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.
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.
During the last 20 years Canada's economy has become relatively less complex, moving from the 12th to the 29th 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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