Imports to Canada shrank 2.4 percent from a month earlier to CAD 49.78 billion in November 2019, after rising 0.6 percent in October and missing market expectations of CAD 51.02 billion. Main declines were seen in purchases of aircraft & other transportation equipment and parts (-13.8 percent), namely airliners from overseas, as well as aircraft engines and parts from the US. Lower imports of railcars also contributed to the decline in November, mainly tank cars for the transportation of crude oil. Meantime, purchases of energy products (-7.5 percent), in particular natural gas. Imports to the US fell 1.1 percent and those to countries other than the US slumped 4.7 percent, led by China and Mexico. Imports in Canada averaged 21269.17 CAD Million from 1971 until 2019, reaching an all time high of 52433.30 CAD Million in March of 2019 and a record low of 1112 CAD Million in January of 1971. source: Statistics Canada
Imports in Canada is expected to be 54300.00 CAD Million by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Imports in Canada to stand at 49800.00 in 12 months time. In the long-term, the Canada Imports is projected to trend around 49800.00 CAD Million in 2020, according to our econometric models.