Canada’s Top Commodity Imports & Exports Overview Canada is the 12th largest export economy in the world but it currently has a negative trade balance of $11.3 billion when you deduct its annual import total of $399 billion from its export total of $387 billion. Canada’s GDP is $1.3 trillion, which equates to a GDP per capita figure of $44,000. Export numbers have decreased over the last five years at an annualized rate of 4.8%, falling from $435 billion to $387 billion in the latest year of that period. Canada’s Top 5 Commodity Exports Commodity Amount (Annually) Crude Petroleum $39.5 billion Gold $12.5 billion Wheat $4.5 billion Aluminum $5.04 billion Rapeseed $4.28 billion Canada’s Other Notable Exports Cars – $48.8 billion Vehicle Parts – $10.6 billion Sawn Wood – $7.74 billion Gas Turbines – $5.21 billion Iron Ore – $2.8 billion The United States is the top export destination of Canada with $296 billion of its annual exports, followed by China at $15.8 billion and the United Kingdom at $12.9 billion. Canada’s Top 5 Commodity Imports Commodity Amount (Annually) Refined Petroleum $11.1 billion Gold $5.6 billion Coffee $1.19 billion Silver $1.27 billion Aluminum $1.41 billion Canada’s Other Notable Imports Cars – $26.4 billion Vehicle Parts – $20.4 billion Computers – $8.76 billion Packaged Medicaments $- 7.23 billion Seats – $3.53 billion More Information on Canada’s Commodities Crude Petroleum Canada is the fourth largest exporter in the world with a 5.8% share of an annual global export market worth $678 billion. The global value of shipments has fallen by 59.4% over a five year period, although Canada is not one of the countries that has posted the sharpest decline in export volumes. The United States takes 98% of all Canada’s refined petroleum exports. Gold Canada ranks 7th in the global league table of gold exporting countries and controls 3.8% of the market. The United Kingdom is the biggest importer of Canadian gold and takes 68% of the annual total, followed by the United States who account for 25% of Canada’s yearly gold export total. Ontario is the largest gold-producing region in Canada. Wheat Canada is the 2nd largest wheat exporting country in the world with a 12.4% market share, and competes with the United States (14.8%) and Russia (11.6%) for pole position. Canada has improved its market share in the last five years as the United States’ wheat exports declined by 34.4% during that period. Aluminum Canada has a 2% share of the annual global aluminum export market which is worth $56.4 billion. The United States is a major importer of Canadian aluminum, taking 85% of its total annual exports of this product. China dominates global aluminium production with a 54% share of global primary output, a similar figure to its control of steel production (51.5%). Rapeseed Canada is the leading exporter of rapeseed with a 48% share of the annual market. Their closest rival is Australia, which exports 10% of the yearly total. China takes 34% of Canada’s rapeseed exports, with Japan, Mexico and Pakistan being other notable export destinations. Did you know? Canada is the 2nd largest exporter of radioactive chemicals, just behind the market-leaders, Kazakhstan. A Few Interesting Facts About Canada Canada is officially the most educated country in the world with half of its residents having college degrees. The country has more lakes than the rest of the world combined. There are fewer people in the whole of Canada than in Tokyo’s metropolitan area. All figures based on OEC/IMF 2016 projections unless otherwise stated.
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