Overview In 2020, Canada was the number 9 economy in the world in terms of GDP (current US$), the number 12 in total exports, the number 11 in total imports, the number 22 economy in terms of GDP per capita (current US$) 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.

July, 2022

Historical Data

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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).

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Fastest Growing Export Markets (2019 - 2020)

Fastest Growing Import Markets (2019 - 2020)

Canada Exports Services (2019): $103B

Canada Imports Services (2019): $120B

In 2019, Canada exported $103B worth of services. The top services exported by Canada in 2019 were Other business services ($28.2B), Personal travel ($24.5B), Transportation ($14B), Computer and information services ($10.3B), and Financial services ($9.14B).

The top services imported by Canada in 2019 were Personal travel ($31.4B), Transportation ($24.4B), Other business services ($23.9B), Royalties and license fees ($12.4B), and Financial services ($8.86B).

Economic Complexity

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Comparison Map

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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).

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Most Specialized Products by RCA Index

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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.

Export Opportunities by Relatedness

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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.

Relatedness Space

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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.

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.

Economic Complexity Ranking

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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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