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.

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Canada Imports

Actual Previous Highest Lowest Dates Unit Frequency
49783.50 51004.00 52433.30 1112.00 1971 - 2019 CAD Million Monthly

Calendar GMT Actual Previous Consensus TEForecast
2019-10-04 12:30 PM Aug C$51.54B C$51.05B C$49.2B
2019-11-05 01:30 PM Sep C$50.8B C$51.65B C$50.98B C$52.3B
2019-12-05 01:30 PM Oct C$50.99B C$50.8B C$50.35B C$51B
2020-01-07 01:30 PM Nov C$49.78B C$51B C$51.02B C$50.9B
2020-02-05 01:30 PM Dec C$49.78B C$51B

News Stream
Canada Imports Increase 0.5% MoM in October
Imports to Canada increased 0.5 percent to CAD 50.99 billion in October 2019, above market expectations of CAD 50.35 billion. Imports of energy products were up 8.9 percent in October, mainly on higher imports of crude oil and crude bitumen (+8.5 percent), which increased largely due to higher prices. Also, imports advanced for natural gas (+46.2 percent) and refined petroleum products (+6.8 percent). On the other hand, imports of motor vehicles and parts fell for the fifth consecutive month (-3.3 percent), mainly due to passenger cars and light trucks (-4.7 percent) and motor vehicle engines and parts (-12.9 percent).

Canada Imports Drop 1.7% in September
Imports to Canada fell 1.7 percent month-over-month to CAD 50.76 billion in September, below market expectations of CAD 50.98 billion. Declines were observed in 7 of 11 product sections. Imports declined for metal and non-metallic mineral products (-9.2 percent), mainly due to gold; other transportation equipment and parts (-27.7 percent) amid lower imports of parts for other transportation equipment from Belgium; and metal ores and non-metallic minerals (-20.5 percent), on lower imports of gold and copper ores. Since the beginning of the year, imports rose 1.7 percent compared with the same period of 2018.

Canada Imports Rise 1.0% MoM in August
Imports to Canada rose 1.0 percent month-over-month to CAD 51.54 billion in August 2019 from an upwardly revised CAD 51.05 billion in the previous month. Higher imports of metal and non-metallic mineral products (9.4 percent) were the main contributor to the overall gain, mainly on imports of gold, which reached their highest level in more than two years. Also, imports advanced for energy products (9.7 percent) and metal ores and non-metallic minerals (8.8 percent). Meanwhile, these increases were partially offset by a 2.5 percent decrease in imports of consumer goods.

Canada Imports Rise 1.2% MoM in July
Imports to Canada rose 1.2 percent month-over-month to CAD 50.9 billion in July 2019 from a downwardly revised CAD 50.28 billion in the previous month but below market expectations of CAD 51.8 billion. Imports of consumer goods (2.4 percent) drove the increase, primarily pharmaceutical products (19.7 percent), which hit a record high in July, mainly from Switzerland and Germany. Also, purchases went up for aircraft and other transportation equipment and parts (10.2 percent), namely locomotive cars used to transport crude oil, and parts for armoured vehicles. Imports of metal ores and non-metallic minerals rebounded (12.6 percent vs -13.6 percent in June), namely bauxite and aluminum oxide used in aluminum production, as activities at certain aluminum smelters resumed. Gold imports also rose, driven mainly by increased shipments from Japan and Peru. Imports from the US rose 1.6 percent and those from countries other than the US advanced 0.5 percent.

Canada Imports Drop 4.3% MoM in June
Imports to Canada dropped 4.3 percent month-over-month to CAD 50.2 billion in June 2019, from an upwardly revised CAD 52.43 billion in the previous month and against market expectations of CAD 51.8 billion. Purchases of aircraft and other transportation equipment and parts slumped 25.8 percent to CAD 1.7 billion while imports of energy products went down 14.8 percent to CAD 2.7 billion, contributing to the overall decline in June.

Canada Imports Rise 1.0% MoM in May
Imports to Canada increased 1.0 percent month-over-month to CAD 52.3 billion in May 2019, from an upwardly revised CAD 51.8 billion in April and against market expectations of CAD 52.1 billion. Purchases increased for aircraft & other transportation equipment (14.2 percent to CAD 2.2 billion) and motor vehicles & parts (1.6 percent to CAD 9.8 billion). On the other hand, imports fell for basic & industrial chemical, plastic and rubber products (-2.2 percent to CAD 3.8 billion). Imports rose from Mexico (4.4 percent) and Germany (6.4 percent) while those decreased from the US (-0.5 percent) and China (-2.6 percent).

Canada Imports
In 2018, Canada imported mainly: consumer goods (20 percent of total imports); motor vehicles and parts (19 percent); electronic and electrical equipment and parts (12 percent); industrial machinery, equipment and parts (11 percent); basic and industrial chemical, plastic and rubber products (8 percent); metal and non-metallic mineral products (7 percent) and energy products (6 percent). Canada's major import partners were: the US (64 percent of total imports); the EU (10 percent), of which Germany (3 percent); China (8 percent); Mexico (3 percent) and Japan (2 percent).

Canada Trade Last Previous Highest Lowest Unit
Balance of Trade -1088.90 -1606.80 8524.80 -4953.10 CAD Million [+]
Current Account -9855.00 -6740.00 12492.00 -20035.00 CAD Million [+]
Current Account to GDP -2.60 -2.80 2.70 -4.20 percent [+]
Imports 49783.50 51004.00 52433.30 1112.00 CAD Million [+]
Exports 48694.60 49397.20 52554.20 1366.00 CAD Million [+]
External Debt 2694641.00 2736179.00 2736179.00 795408.00 CAD Million [+]
Terms of Trade 92.50 91.50 108.50 79.10 points [+]
Foreign Direct Investment 13386.00 23066.00 50326.00 -8640.00 CAD Million [+]
Capital Flows 0.00 0.00 4632.00 -672.00 CAD Million [+]
Gold Reserves 0.00 0.00 46.20 0.00 Tonnes [+]
Crude Oil Production 4390.00 4320.00 4520.00 955.00 BBL/D/1K [+]
Terrorism Index 3.59 3.53 3.59 0.65 [+]
Tourist Arrivals 2432630.00 3145532.00 7006165.00 1138895.00 [+]
Weapons Sales 84.00 64.00 473.00 38.00 USD Million [+]

Canada Imports by Category Last Previous
(bop) - Total of All Merchandise 49783.50 50991.80 CAD Million Nov/19
(bop) - Consumer Goods 10130.40 10337.50 CAD Million Nov/19
(bop) - Motor Vehicles and Parts 9255.40 9254.60 CAD Million Nov/19
(bop) - Passenger Cars and Light Trucks 4198.70 4110.10 CAD Million Nov/19
(bop) - Energy Products 3182.20 3466.20 CAD Million Nov/19
(bop) - Building and Packaging Materia 1866.70 1899.10 CAD Million Nov/19
(bop) - Intermediate Metal Products 1828.20 1910.90 CAD Million Nov/19
(bop) - Crude Oil and Crude Bitumen 1638.10 1718.30 CAD Million Nov/19
(bop) - Miscellaneous Goods and Suppli 1525.70 1555.30 CAD Million Nov/19
(bop) - Farm and Fishing Products 1451.90 1508.50 CAD Million Nov/19
(bop) - Plastic and Rubber Products 1402.20 1456.50 CAD Million Nov/19
(bop) - Electronic and Electrical Parts 1373.50 1497.10 CAD Million Nov/19
(bop) - Metal Ores and Concentrates 1174.20 1086.00 CAD Million Nov/19
(bop) - Refined Petroleum Energy Produ 1106.20 1147.50 CAD Million Nov/19
(bop) - Electrical Components 915.20 942.90 CAD Million Nov/19
(bop) - Special Transactions Trade 860.10 966.50 CAD Million Nov/19
(bop) - Fruits, Nuts and Vegetables 821.40 819.90 CAD Million Nov/19
(bop) - Fabricated Metal Products 724.30 711.60 CAD Million Nov/19
(bop) - Furniture and Fixtures 697.20 724.70 CAD Million Nov/19
(bop) - Basic Chemicals 686.30 762.70 CAD Million Nov/19

United Nations Comtrade Database
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