Canada

Trade

On BoP basis, goods exports were valued at US$549.5 billion (up 5.4 percent) in 2017. Energy sector, valued at US$ 95.1 billion (32.8 percent increase), was the largest contributor (20.1 percent share). Motor vehicles, valued at US$ 92.8 billion, were the second largest sector, despite a 4.8 percent decrease in values. Consumer goods (US$ 69.9 billion, 5.3 percent decrease), metal and mineral products (US$ 62.7 billion, up 3.3 percent), forestry, building and packaging (US$ 42.8 billion, up 3.9 percent), chemicals, plastics and rubber (US$ 34.9 billion), and industrial machinery and equipment (US$ 34.6 billion, up 6.8 percent) followed. Imports of goods, on the other hand, rose to US$ 26.1 billion, over 4.8 percent than 2016. Total imports were up to US$ 573.4 billion. The largest import category was consumer goods, which displayed a growth of 3.3 percent (up US$4.0 billion), driven by 4.0 percent volume growth and import prices decrease of 0.6 percent. Consumer goods was followed by motor vehicles (4.9 percent growth; up US$ 5.2 billion), metal ores and minerals (19.4 percent increase), metal and mineral products (down by 1.3 percent), and energy products (16.4 percent increase).

Service exports were valued at US$ 112.8 million, an increase by 3.6 percent. Commercial services sector was the largest sector, valued at US$ 67.8 million but only increase by 0.7 percent. The second largest sector was travel sector, valued at US$ 26.4 million and had the highest increase by 10.3 percent. Transportation sector (US$ 17.0 million, 5.9 percent increase) and government services (US$ 1.6 million, 0.3 percent increase) comprised the rest of the service exports. Service imports increased by 4.3 percent, having a total value of US$ 137.9 million. Commercial services were also the largest contributor, valued at US$ 66.9 million (0.9 percent increase). Travel services followed at US$ 41.5 million (8.9 percent increase). Transportation and government services were valued at US$ 28.2 million (6.3 percent increase) and US$ 1.2 million (1.1 percent increase) respectively.

Top merchandise exports destinations include USA (76 percent), ROW (13 percent), China (4 percent), UK (3 percent), Japan (2 percent), and Mexico (1 percent). Imports sources, on the other hand, include USA (51 percent), ROW (23 percent), China (13 percent), Mexico, (6 percent), Germany (3 percent), and Japan (3 percent).

Investment

Canadas FDI was valued at US$ 824.0 million in 2017, a 1.9 percent increase from 2016. The largest industry was manufacturing with a value of US$ 176.2 million (21.4 percent share), although it had decreased by 0.3 percent. Management of companies and enterprises came at US$ 170.9 million (20.7 percent share, 2.1 percent increase), followed by mining and oil and gas extraction at US$ 162.2 million (19.7 percent share, down by 7.4 percent) and finance and insurance at US$ 137.0 million (16.6 percent share, 8 percent increase).

Canadas immediate investors include US (48.0 percent), Netherlands (12.0 percent), Luxembourg (6.3 percent) and UK (5.5 percent). Ultimate investors include US (52.2 percent), UK (6.0 percent), Japan (5.0 percent, and Brazil (4.1 percent).

References:

Minister of Public Works and Government Services Canada (2018). 2018 Canadas State of Trade, Trade and Investment Update. Catalogue no. FR2-8/2018.