lundi 14 décembre, 2020

canada imports and exports 2019


Between 2000 and 2017, Canadian overseas goods and services exports grew 4.3% per year. Incidentally, some sixteen American cities are projected to be among the top 40 cities worldwide for Canadian business opportunities by 2030. GDP grew 40.5% at an annualized pace, bolstered by large gains in consumer spending on goods, housing investment and exports. Typically, the price differential is between US$10 and US$20. The international trade literature shows that even though larger and more productive firms have a higher likelihood of exporting (Bernard et al., 2007), there is also evidence of positive spillovers from participating in global markets, where exporters can enhance their productivity and innovation through learning-by-doing. Scarffe (2019a) finds that Canada’s exports are the fourth most concentrated by destination out of 113 countries.Footnote 19 Based on the HHI, in 2017, only Kuwait, Bermuda, and Mexico had a higher geographic concentration of exports than Canada.Footnote 20 Moreover, compared to countries thought to have similar dependence issues, such as Hong Kong SAR with its dependence on China, and New Zealand with its dependence on Australia, Canada’s exports are much more concentrated (Scarffe, 2019b). While Canadian exports of petroleum and other exports stayed in the same range, U.S. imports into Canada increased nearly five-fold since 2010 (see figures 1 & 2). Given that agreement has only been in effect since December 30, 2018, not enough data was available to produce a meaningful analysis of the impact of the CPTPP on Canada’s trade. A greater geographic diversification of exports can also be beneficial to the Canadian economy in ensuring that Canadian exporters do not miss out on opportunities in emerging, fast-growing economies, and that Canadian exports are not overly focused on slower growing developed economies. This sector comprised 37% of the overall stock of CDIA in 2018. Exports . Defined by the United Nations Conference on Trade and Development (UNCTAD) and Statistics Canada as “services that have the possibility to be delivered remotely over ICT networks, but that could also be delivered otherwise.”. Source: Bank of Canada; retrieved on 21-06-2019. Additionally, lowering barriers to exporting for small and medium firms will help them grow and prosper, while providing support for women-owned or Indigenous-owned enterprises to export will make the gains from trade more inclusive. Commercial services exports continued to be the central component of services exports, accounting for over 60% of total services exports. This can be observed for products that benefited from tariff reductions of over 10 pp. As stated in the FES, “The Export Diversification Strategy will invest $1.1 billion over the next six years, starting in 2018-19, to help Canadian businesses access new markets. producers and exporters. Canada exported 2.8 MMb/d (452.1 thousand m³/d) of heavy crude oil and 0.9 MMb/d (140.0 thousand m³/d) of light crude oil. Includes NAICS codes 3341 to 3344, 4173, 5112, 5171, 5172, 5174, 5179, 5182, 5415 and 8112. Source: U.S. Bureau of Economic Analysis, May 30, 2019; retrieved on 20-06-2019. As a result, Mexican exports surpassed those of Canada, causing the two countries to switch rank (12th to 13th for Canada and 13th to 12th for Mexico) among the largest merchandise exporters to the world. © Her Majesty the Queen in Right of Canada, as represented by Global Affairs Canada, 2019. Explore the catalogue to find British Columbia's agrifood and seafood producers that export to countries around the world. The Conference Board of Canada’s forecast points to a 5.2% per year growth in Canadian overseas exports, thus reaching $283 billion by 2025, just slightly below the target. The World Trade Organization identifies three types of goods that might benefit more from digital technologies’ enabling effect: time-sensitive, certification-intensive and contract-intensive goods. However, these gains were partially offset by the combination of a widening income deficit and the services trade balance moving sideways. Source: Statistics Canada, Table 14-10-0064-01 and Table 14-10-0327-01; retrieved on 21-06-2019. Figure 20 shows three scenarios of extended historical growth using different historical growth periods. Canada exports for 2019 was $549.48B, a 0.19% decline from 2018. The third category includes services that are not likely to be exported over the Internet (e.g. On the import side, travel imports rose 5.1% to $43 billion, with imports of both business and personal travel growing at roughly the same rate. In contrast, inward FDI flows to developing economies remained resilient, advancing 2%, or US$15 billion, to reach an estimated US$706 billion. SMEs comprise the majority of Canadian companies and make a substantial contribution to the economy. Slowing global growth, supply factors such as the temporary waiver of U.S. sanctions on Iranian oil exports to certain countries, and record high U.S. crude oil production were the main reasons for the decline. However, annual world merchandise trade still grew faster than at any time between 2012 and 2016, and global commercial services trade expanded by 7.4% in 2018, a little more than an extra one percentage point over 2017. Canada’s Need to Diversify Stronger than Ever. Diversity thus exists within the exporting community and this diversity is slowly growing. Of Canada’s major non-U.S. trading partners, imports from India recorded the fastest growth at 30% in 2018, followed by imports from South Korea (+12%) and the EU (+12%). Total Exports (2018) $449,141,101,810. Moreover, the gains from trade can be spread more evenly throughout Canada, notably through diversification of exporter ownership. The numbers for small and medium-sized businesses (SMEs) exporting goods and services outside of Canada show the most potential for expansion. In 2019, the value of exports of goods from Canada amounted to about 446.93 billion U.S. dollars. Overview: In April 2020 Canada's Rapeseed exports accounted up to C$610M and imports accounted up to C$15.2M, resulting in a positive trade balance of C$595M. The U.S. expansion was broad-based, as personal consumption, investment, and exports all contributed to growth. For example, in the global economic and financial crisis of 2007–2009, the vast majority of developed countries saw their economies contract, thus lowering their demand for imports. See Imports, Exports and Mirror Data with UN COMTRADE for an explanation of discrepancies in world imports and exports. The deceleration in 2018 was fairly evenly spread between advanced economies and emerging economies. Leading the growth was the transportation category (4.7%), dominated by the gasoline (13%) and air transportation (15%) sub-categories. Tree-map of Canada's goods exports in 2017. International trade makes up a large part of the Canadian economy, particularly of its natural resources. It's critical to note that not all oil imports into Canada are the same; their nature differ when it comes to the west and east. Rising trade tensions, lower business confidence, tightening of financial conditions, higher policy uncertainty across many economies and waning cyclical forces were some of the factors behind the slowdown in global activities. Why we don’t get credit. World Trade Organization. The U.S. services trade surplus with Canada was $29.2 billion in 2019. Continued solid employment growth (1.6%) helped lower Ontario’s unemployment rate to 5.6%, the lowest since 1989, and supported wage growth of 2.9%. On the other hand, three of the top five countries under IIC ranking, such as the Netherlands and Luxembourg, play a smaller role in Canadian FDI under UIC ranking. On the other hand, resolving the issues that led to rising tensions in the first place could create a stronger trade relationship that would be beneficial for global trade. World merchandise exportsFootnote 5 grew 9.8% in 2018 to reach over US$19 trillion. Non-residential business investment made a very small positive contribution, while residential investment negatively impacted growth due to tighter mortgage guidelines. The CKFTA, which entered into force January 1, 2015, offers a longer period to assess the benefits of an FTA. Advanced economies” and “emerging markets and developing economies” are country groupings defined by the International Monetary Fund. The government can also help lower barriers faced by Canadian exporters and provide support and tools to aid Canadian firms looking to expand in markets abroad. By region, the Commonwealth of Independent States led growth in commercial services exports at 12%, followed by Asia and Africa at 9.9% each. The level of inward FDI stock from Europe (4.9%) and Asia and Oceania (4.2%) grew slightly slower. The contraction in Canadian exports matched the global trend in declining trade at the time,Footnote 17 and greater geographic diversification of Canadian exports would likely have been of little help in mitigating Canada’s vulnerability to this systematic risk. Canada’s natural gas producers supply natural gas to markets in Canada and export natural gas to the U.S. From 2014 to 2019, exports to the U.S. increased slightly, but overall exports to the U.S. have dropped 22% over the past … The author also looked at the destinations served by Indigenous-owned exporters and found that the most popular destination market of Indigenous-owned exporters, similar to non-Indigenous-owned Canadian exporters, was the United States, with 22% of Indigenous-owned SMEs selling goods or services to our southern neighbour. Agrifood & Seafood Export Catalogue. As mentioned above, diversity in who exports is also worth paying attention to. With the benefits of diversification established, an important question is: how diversified are Canadian exports? “Drivers of SME Internationalisation.” European Competitiveness Report (2014), 75‑114. Following the crisis, Canadian goods and services exports saw a significant decline, dropping 21% from 2008 to 2009. Most goods imported into Canada are subject to the federal GST, which is calculated at the rate of 5% of the duty-paid value of the shipment. Also important, there are no other alternatives for Canadian exports nearby as the United States is the only country adjacent to Canada by land. In 2019, export volumes were 60.4 TW.h, a decrease of 2% from the previous year. More details on the characteristics of Indigenous-owned SMEs can be found in the joint study, including what types of industries Indigenous-owned SMEs are involved in, how these SMEs differ by Canadian region and by Indigenous identity (First Nations, Métis, Inuit). Calculations done at the HS4 product level. The four largest export partners of the EU were the United States (18 %), the United Kingdom (15 %), China (9 … Further details on the products leading the gains in these categories can be found in the 2018 report posted on Global Affairs Canada’s website. Bélanger Baur (2019a) analyzed the characteristics and internationalization performance of Canadian exporting SMEs based on majority-gender ownership of the firm using data obtained from Statistics Canada’s Survey on Financing and Growth of Small and Medium Enterprises, 2017. However, in the period prior to the global financial crisis (2000–2008), Canada increased its overseas exports by 6.4% per year; if we apply this growth rate out until 2025, Canadian exports to overseas markets would be $311 billion, $27 billion higher than the target. Although some traditional destinations will remain, the ways firms can sell their goods and services are changing with the Internet and digital technologies. Results for several BOS survey questions in the spring 2019 edition were below historical averages. For both agreements, the report shows Canadian exports expanding after they came into force. This study also identifies various challenges and barriers associated with international activities that smaller and less productive firms are less likely to overcome, relative to large firms. CDIA fell 38% to $64 billion, with M&A decreasing by 48%, or $31 billion, and divestment in other flows growing to over $15 billion. Transportation services added $2.9 billion (10%) in 2018, with nearly two thirds of the increase coming from water transportation. The U.S. share of Canadian FDI by UIC is 51%, larger than its 46% share of FDI by IIC. Overview: In August 2020 Canada's Delivery Trucks exports accounted up to C$299M and imports accounted up to C$3.21B, resulting in a negative trade balance of C$2.91B. The economy roared back to life in the third quarter as pandemic-related restrictions on businesses and social activities eased. Overseas refers to non-U.S. destinations. Source: Statistics Canada, Table 36-10-0009-01; retrieved on 24-06-2019. While the benefits from CETA are already evident, the agreement has only been in force since October 2017, and it can often take time for the gains from FTAs to accrue. All regions except Africa increased their FDI stock in Canada in 2018. Having exporting firms dispersed across Canadian regions and communities will help economic benefits and opportunities distribute evenly throughout the country. *Export increases were calculated using EU imports data from Eurostat, Data: Eurostat, Office of the Chief Economist calculations. The large and fast-growing emerging economies of China and India saw high growth in commercial services imports, at 12% and 14%, respectively. Based on Western Canada Select (WCS) prices. The closer the index is to one, the more concentrated is Canada’s trade. Data: Statistics Canada, Survey on Financing and Growth of Small and Medium Enterprises, 2011, 2014, 2017. In 2017, there were about 1.2 million SMEs in Canada, representing more than 99% of all employer businesses.Footnote 42 SMEs were responsible for 89% of all private sector jobs in 2017, and they accounted for about 50% of GDP between 2012 and 2014. In contrast to last year, commercial services exports rose modestly in 2018, up 5.2%, or $3.6 billion, to reach $73 billion. Regionally, Asia and Oceania are expected to account for almost half of the top 100 cities. This backdrop coupled with global trade tensions, political uncertainty and U.S. tax reforms had an important impact on global foreign direct investment (FDI) flows. In 2019, Canada reported the largest export of weapons in its history, building on a previous record-high year in 2018. This objective requires an annual average growth rate of 5.2% from 2017, which is higher than the trend from recent years (2011-2017). The study uses a gravity model framework and preliminary results suggest that there are benefits to exporting to fast-growing economies; specifically over a five-year period, the study found that a 1 pp increase in the growth rate of a foreign country's product specific import market caused the level of Canadian exports to increase by 0.11%, and there was an additional gain of 0.16% if Canada was active in this market prior to its growth.Footnote 36 Based on these results, the study concluded that “considering the strong correlation between the growth of import markets and GDP growth, Canada should continue to encourage firms to trade with fast-growing emerging markets”. Potential negative impacts could include disruptions to global value chains, declines in income and world demand, and the creation of competing trade blocs, all of which would harm Canadian exports. Prices were measured by the Paasche current weighted index and volumes were measured by the Laspeyres fixed weighted index. While trade agreements can be mostly effective in reducing tariffs and costs associated with non-tariff barriers, fixed costs such as advertisement and product distribution networks affect smaller firms disproportionately (OECD, 2018). To assess the level of diversification in Canada’s trade requires a proper measure. The gravity model of trade tells us that economic size and geographic proximity are the most important determinants of bilateral trade patterns. The other change in ranking among top merchandise exporters was France overtaking Hong Kong SARFootnote 6 and moving into 7th place. Footnote 49 The author further writes “Indigenous SMEs, based on these results, demonstrate a strong ability to access broader markets compared to non-Indigenous Canadian SMEs. Regionally, imports from the United States were up 5.4% to $391 billion in 2018, while imports from non-U.S. sources grew 6.5% to $216 billion. Log in. The survey lists the United States, Europe, the United Kingdom, Asia, India, Mexico, China, Latin America, Japan and Brazil as export destinations. Moreover, since exports outpaced imports in 2018, Canada’s goods trade deficit narrowed by $2.7 billion to $22 billion. Countries don’t trade, firms and people within countries do. While Canadian exports were found to be diversified by product, they are concentrated by geographic market. The analysis also looked at the impact of the elimination or reduction of tariffs on Canadian merchandise exports to the EU.Footnote 32 The analysis revealed that products that saw the largest declines in tariffs as a result of CETA also showed the largest trade gains. Defined here as the average percentage share of SMEs’ export sales in total SME sales. Concomitantly, average hourly wages grew by 2.9% in 2018, the highest growth since 2012 (2.9%), responding to tighter labour market conditions. Quality of western Canadian wheat exports 2019. Source: Bank of Canada, Business Outlook Survey, spring 2019; retrieved 28-06-2019. By sector, unlike in the previous year, Canadian investors diverted investment from every sector to energy and mining, and manufacturing, adding $13 billion and $10 billion, respectively. Data was extracted from UN Comtrade in August and September 2019. Trade Data is available on both product and industry-based versions. Moreover, investment in other industries nearly doubled. Exports of transportation services increased moderately, up 4.9% to $18 billion, with water transportation growing faster than air transportation. The IMF expects economic growth to slow to 3.3% in 2019, from 3.6% in 2018, before returning to 3.6% in 2020. Top 10 Canadian Exports to the US Canada's exports to the US amounted to $336.8 billion or 75.4% of its overall exports. Growth in emerging markets and developing economies also slowed slightly in 2018, dropping to 4.5% from 4.8% in 2017. Import and export. CDIA in Australia contracted slightly, but the stock of investment in other top Asian destinations grew faster the 10% average, as China, Hong Kong SAR, and Japan all recorded double-digit growth rates. Crude oil, the main component of this category, experienced large price fluctuations, as its average price rose steadily in the first five months of 2018 and then trended downward slightly until October, before falling sharply in November.Footnote 14 Other sectors that posted strong price increases were metal and mineral products (+5.9%) and chemical, plastic and rubber products (+5.4%). Source: Statistics Canada, Tables 36-10-0020-01, 12-10-0126-01 and 36-10-0023-01; retrieved on 24 06 2019. The ‘East’ includes Ontario, Quebec, Newfoundland and Labrador, New Brunswick, and Nova Scotia. Top Canada Exports 2019 ... Top Canada Exports. Moreover, digital technologies provide more and better information for both sellers (exporters) and buyers (importers) as the Internet makes it less costly to search, verify, track and translate information, which can potentially increase trust in cross-border transactions. In fact, data show that Canada’s exports are the fourth most concentrated by destination out of 113 countries, principally due to a large share of exports going to the United States. The United Kingdom, Japan, Switzerland and Brazil round off the rest of the top five UIC rankings, and all these countries rank higher under UIC than under IIC. Canada can also diversify by further expanding its exports to some developed overseas markets: the United Kingdom, Japan, France and Australia all have major cities predicted to be of importance to Canada in the future. While there is a great deal of heterogeneity among SMEs and opportunities to engage in global markets may not be perceived equally across sectors, the internationalization of SMEs as a policy objective can generate great benefits to the economy. Finally, the chapter investigated a new dimension of trade diversification, that of exporter ownership, summarizing two reports on women-owned exporters and Indigenous-owned exporters, respectively. Canada’s Top Commodity Imports Canada’s five most imported commodities are: Canada’s Other Notable Imports At the same time, most companies export only a few products, with 75% of exporters exporting five or fewer products. Imports increased in all sectors, led by metal ores and minerals, energy products, and aircraft and other transportation equipment—all of which posted double-digit growth rates. Government programs that help and support these SMEs could be a further means to diversify Canadian exports, not just along the geographic and product dimensions, but also in spreading the gains of exporting across Canada and among all Canadians. Accessing new and fast-growing markets also provides a feedback effect of further diversifying Canadian exports; OCE research shows that entering fast-growing markets earlier gives an additional positive boost to exports in those markets. The lower trade deficit was mainly due to a narrowing of the goods trade deficit by $2.7 billion. Along with greater exports, they also have higher output, employ more workers and pay higher wages than firms of similar size and in similar industries that export to fewer markets or export fewer products. Get in early on fast growth markets - Emerging market and developing economies grew annually by 9.1% between 2000 and 2018, far outpacing advanced economies. Imports in Canada averaged 21730.71 CAD Million from 1971 until 2020, reaching an all time high of 52759.20 CAD Million in March of 2019 and a record low of 1112 CAD Million in January of 1971. However, investment from Africa declined by 12%. Unlike the previous year, the growth of Canadian exports was driven more by an expansion in volumes than in export prices, as volumes were up 4.1% compared to a 2.2% growth in prices. Data: Statistics Canada Table 36-10-0014-01, Oxford Economics Global Forecast November 2018, Conference Board Forecast March 2018. To estimate the value of exports to U.S. and overseas destinations, 2017 shares were applied to total export growth. the risk of a negative shock to a specific or small subset of exported products. Needless to say, it will be a double (double) celebration for me! If this growth trend is extended out to 2025, Canadian overseas exports would reach $264 billion, $20 billion short of the $284 billion target. Three key take-aways can be gleaned from this city-level analysis for Canada’s export diversification strategy. Motor Vehicles, aircraft, coal, and fertilizers are some of the top exports of Canada, one of the world’s wealthiest nations. In 2016, coal made up 26.5% of the world's energy supply. The study also indicated that, from 2014 to 2015, and without gaining a larger proportion of all SMEs in the domestic Canadian economy, women-owned SMEs increased their propensity to export such that they are no longer underrepresented among exporter SMEs. And in any case, low-carbon exports don’t relieve us of the responsibility for cutting our own emissions. Measuring FDI according to the ultimate investor country (UIC) attempts to rectify this problem. Soft economic conditions persisted into early 2019, but the Bank of Canada expects activity to pick up later in 2019, resulting in an economy forecasted to grow by 1.2% for the year (April 2019 Monetary Policy Report). Top 10 Canadian Imports from the US. Statistics Canada provides the following internationally accepted guidelines: Moderately concentrated products or markets: 0.15 ≤. As Canada’s Minister of International Trade Diversification, I am delighted to present the 20th annual edition of the State of Trade Report for 2019. Canadian imports and exports videos and latest news articles; GlobalNews.ca your source for the latest news on Canadian imports and exports . Only 30% of first-time exporters are still exporting four years later, on average. Furthermore, new technologies facilitate more efficient route planning and allow exporters to make real-time adjustments en route. In addition, the chapter describes various potential paths for further diversification, by summarizing the numerous research and analyses undertaken by the Office of the Chief Economist at Global Affairs Canada and elsewhere. Canada’s merchandise trade is most commonly reported using the Harmonized System (HS) of Trade Classification, an international system for codifying traded commodities. 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For diversification and increasing wages will support consumption growth, but that declined. For Aboriginal Business ( 2019b ) also help abate risks from shocks Canada. Share of nominal exports at time t and i can be market or product a detailed... Foods, and a somewhat larger number begin to diversify into other markets listed! At 6.5 % in 2018, with water transportation of Global FDI inflows declined marginally this... International goods and services to the Agreement into consideration the future economic growth to the overall stock CDIA!, 5112, 5171, 5172, 5174, 5179, 5182, 5415 and 8112 from are.

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