7 Surprising Facts About Canada Imports in 2020
Canada is one of the world’s largest economies and trading nations, with a gross domestic product (GDP) of over 1.7 trillion US dollars in 2020. The country imports a wide range of goods and services from its trading partners, mainly the United States, China, Mexico, Germany and Japan. In this article, we will explore some of the surprising facts about Canada imports in 2020, based on the latest statistics from StatCan and Export Genius.
Fact 1: Canada imported $405 billion worth of goods in 2020, down by 8.6% from 2019.
The COVID-19 pandemic had a significant impact on Canada’s import activity in 2020, as the country faced lockdowns, border closures and reduced consumer demand. According to Canada import data, the country’s total imports of goods decreased by 8.6% from $443 billion in 2019 to $405 billion in 2020. This was the lowest value since 2016, when Canada imported $402 billion worth of goods.
Fact 2: Machinery was the top import category, accounting for 15.1% of the total imports.
Canada’s top import category in 2020 was machinery, which includes computers, engines, pumps, turbines, refrigerators, air conditioners and other mechanical appliances. The country imported $61 billion worth of machinery in 2020, down by 7.4% from $66 billion in 2019. Machinery accounted for 15.1% of Canada’s total imports of goods in 2020.
Fact 3: Vehicles was the second-largest import category, accounting for 13.8% of the total imports.
Canada’s second-largest import category in 2020 was vehicles, which includes cars, trucks, buses, motorcycles, bicycles and parts thereof. The country imported $56 billion worth of vehicles in 2020, down by 20.4% from $70 billion in 2019. Vehicles accounted for 13.8% of Canada’s total imports of goods in 2020.
Fact 4: Electrical machinery and equipment was the third-largest import category, accounting for 9.7% of the total imports.
Canada’s third-largest import category in 2020 was electrical machinery and equipment, which includes telephones, TVs, radios, cameras, computers, batteries, wires and cables. The country imported $39 billion worth of electrical machinery and equipment in 2020, down by 2.5% from $40 billion in 2019. Electrical machinery and equipment accounted for 9.7% of Canada’s total imports of goods in 2020.
Fact 5: Mineral fuels and oils was the fourth-largest import category, accounting for 4.9% of the total imports.
Canada’s fourth-largest import category in 2020 was mineral fuels and oils, which includes crude oil, natural gas, coal, petroleum products and electricity. The country imported $20 billion worth of mineral fuels and oils in 2020, down by 38.5% from $32 billion in 2019. Mineral fuels and oils accounted for 4.9% of Canada’s total imports of goods in 2020.
Fact 6: Pearls and precious stones was the fifth-largest import category, accounting for 4.2% of the total imports.
Canada’s fifth-largest import category in 2020 was pearls and precious stones, which includes diamonds, gold, silver, platinum and jewelry. The country imported $17 billion worth of pearls and precious stones in 2020, up by 11.8% from $15 billion in 2019. Pearls and precious stones accounted for 4.2% of Canada’s total imports of goods in 2020.
Fact 7: The United States was the top source of Canada’s imports, accounting for 51% of the total imports.
Canada’s top source of imports in 2020 was the United States, its neighbor and largest trading partner. The country imported $207 billion worth of goods from the US in 2020, down by 12% from $235 billion in 2019. The US accounted for 51% of Canada’s total imports of goods in 2020, followed by China with 12%, Mexico with 6%, Germany with 3% and Japan with 3%.
Canada Imports: Trends and Statistics
Canada is one of the world’s largest importers of goods and services, ranking 13th in the world in 2020. According to Canada import data, the country imported goods worth $405 billion in 2020, a decrease of 8.6% from 2019. This decline was mainly due to the impact of the COVID-19 pandemic on global trade and demand. In this article, we will look at some of the trends and statistics of Canada’s imports, based on the latest data from Statistics Canada and other sources.
Top Import Categories
Canada imports a wide range of products from various countries, but some categories stand out as the most important ones. According to Canada import data, Canada’s top 10 import categories in 2020 were:
- Machinery: $61.1 billion (15.1% of total imports)
- Vehicles: $55.9 billion (13.8% of total imports)
- Electrical machinery and equipment: $39.4 billion (9.7% of total imports)
- Mineral fuels and oils: $19.8 billion (4.9% of total imports)
- Pearls and precious stones: $17 billion (4.2% of total imports)
- Plastics and articles: $15.8 billion (3.9% of total imports)
- Pharmaceutical products: $14.2 billion (3.5% of total imports)
- Optical, photographic, medical equipment: $11.4 billion (2.8% of total imports)
- Articles of iron and steel: $8.5 billion (2.1% of total imports)
- Furniture, bedding, mattresses: $8.1 billion (2% of total imports)
These 10 categories accounted for 62% of Canada’s total imports in 2020, showing the high concentration of the country’s import basket.
Top Import Partners
Canada imports goods from many countries around the world, but some are more important than others. According to Canada import data, Canada’s top 10 import partners in 2020 were:
- United States: $200.1 billion (49.4% of total imports)
- China: $58.6 billion (14.5% of total imports)
- Mexico: $18 billion (4.4% of total imports)
- Germany: $13 billion (3.2% of total imports)
- Japan: $11.7 billion (2.9% of total imports)
- United Kingdom: $7.6 billion (1.9% of total imports)
- South Korea: $7 billion (1.7% of total imports)
- Italy: $6.5 billion (1.6% of total imports)
- France: $6 billion (1.5% of total imports)
- India: $5.7 billion (1.4% of total imports)
These 10 countries accounted for 83% of Canada’s total imports in 2020, showing the high dependence of the country on a few major trading partners.
Import Trends by Province
Canada is a federation of 10 provinces and three territories, each with its own economic profile and trade patterns. According to Canada import data, the top five provinces by import value in 2020 were:
- Ontario: $207 billion (51% of total imports)
- Quebec: $86 billion (21% of total imports)
- British Columbia: $54 billion (13% of total imports)
- Alberta: $31 billion (8% of total imports)
- Manitoba: $10 billion (2% of total imports)
These five provinces accounted for 95% of Canada’s total imports in 2020, showing the high concentration of the country’s import activity in a few regions.
References:
http://www.bankofcanada.ca/wp-content/uploads/2015/07/mpr-2015-07-15.pdf
http://www.bankofcanada.ca/wp-content/uploads/2010/11/inflation_control_target.pdf
https://pubs.usgs.gov/periodicals/mcs2021/mcs2021-gold.pdf
https://www.statcan.gc.ca/en/subjects-start/international_trade
https://www.exportgenius.in/export-import-trade-data/canada-import.php
https://www.importglobals.com/statistical/canada-Import-data
https://www.statcan.gc.ca/en/subjects-start/international_trade
https://www.exportgenius.in/export-import-trade-data/canada-import.php
https://www.importglobals.com/statistical/canada-Import-data
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