Canadian Market Development-Tendata 2024
1. Overview of Canada
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.
2. Canadian imports and exports
OVERVIEW
In March 2024 Canada exported C$59.8B and imported C$64.5B, resulting in a negative trade balance of C$4.69B. Between March 2023 and March 2024 the exports of Canada have decreased by C$-3.81B (-5.99%) from C$63.6B to C$59.8B, while imports decreased by C$-1.83B (-2.76%) from C$66.4B to C$64.5B.
TRADE
In March 2024, the top exports of Canada were Crude Petroleum (C$10.8B), Cars (C$3.63B), Gold (C$2.68B), Refined Petroleum (C$1.83B), and Motor vehicles; parts and accessories (8701... (C$1.51B). In March 2024 the top imports of Canada were Cars (C$5.14B), Motor vehicles; parts and accessories (8701... (C$2.35B), Delivery Trucks (C$2.24B), Crude Petroleum (C$1.82B), and Commodities not elsewhere specified (C$1.62B).
领英推荐
ORIGINS
In March 2024 the exports of Canada were mainly from Ontario (C$21.3B), Alberta (C$14.2B), Quebec (C$10.1B), British Columbia (C$5.18B), and Saskatchewan (C$3.77B), while imports destinations were mainly Ontario (C$39.9B), Quebec (C$8.34B), British Columbia (C$6.08B), Alberta (C$3.34B), and Manitoba (C$2.87B).
DESTINATIONS
In March 2024, Canada exported mostly to United States (C$45.1B), China (C$2.64B), United Kingdom (C$1.95B), Japan (C$1.35B), and Mexico (C$657M), and imported mostly from United States (C$33B), China (C$6.9B), Mexico (C$4.03B), Germany (C$1.97B), and Japan (C$1.86B).
GROWTH
In March 2024, the decrease in Canada's year-by-year exports was explained primarily by an decrease in exports to United States (C$-3.01B or -6.25%), China (C$-429M or -14%), and Brazil (C$-311M or -57.5%), and product exports decrease in Potassic Fertilizers (C$-568M or -44.9%), Wheat (C$-446M or -33.7%), and Petroleum Gas (C$-416M or -24.4%). In March 2024, the decrease in Canada's year-by-year imports was explained primarily by an decrease in imports from United States (C$-823M or -2.43%), China (C$-361M or -4.97%), and Canada (C$-294M or -41.2%), and product imports decrease in Other Heating Machinery (C$-618M or -74.7%), Refined Petroleum (C$-359M or -18.3%), and Petroleum Gas (C$-262M or -51.4%).
3. How to find Canadian importers and exporters
In the Tendata database, you can view transaction details for each deal using product keywords or HS codes. You can analyze competitors' and sellers' prices, scale, and other information, as well as check transaction details.
After identifying suitable buyers for our business, it's crucial to analyze their purchasing habits. By evaluating the quantity and weight of their purchases each time, we can determine if they fit our business segment. Often, it's impractical to work with buyers that are too large or too small, as the former might be unmanageable and the latter not worth the effort. This is a very practical consideration.