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Apr 14, 2021 · Canada's international trade in services falls in 2020. As was the case for Canada's international trade in goods, Canada's international trade in services was affected by the pandemic in 2020. On an annual basis, Canada's international imports of services declined 24.0% to $122.3 billion, and exports were down 17.7% to $114.7 billion.
- Measuring Canadian Export Diversification
Canada exports over $500 billion worth of merchandise trade...
- Measuring Canadian Export Diversification
- Message from The Minister
- Acronyms
- Executive Summary
- Chapter 1: 2019 in Review
- Chapter 2: Early Impacts of Covid-19 on Canada’s International Trade
- Bibliography
As Canada’s Minister of Small Business, Export Promotion and International Trade, I am pleased to present the Canada’s State of Trade 2020 report on behalf of the Government of Canada. This report gives Canadians a snapshot of our economic activities in 2019 while recognizing the unprecedented global uncertainty of 2020 amid the COVID-19 pandemic. ...
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1. Billion dollars
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1. Million dollars
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1. Canadian dollar
Economic events thus far into 2020 are being dictated by the COVID-19 pandemic. The resulting downturn marks the end to the economic expansion that began in mid-2009 following the 2007-2008 global financial crisis. However, even before the pandemic took hold in countries around the world, 2019 was shaping up to be a rough year for the global econom...
1.1 Global economic, trade and investment environment
Even before the worldwide spread of the COVID-19 virus, the year 2019 promised to be a rough year for the global economy. Trade tensions and disputes, geopolitical tensions, rising social unrest in several countries and more frequent and more intense weather-related disasters weighed on business confidence, investment decisions, industrial production and global trade—and in turn created challenging conditions for Canadian trade. As the events of 2019 unfolded amid rising and intensifying glob...
1.3 Canadian foreign investment performance
In 2019, Canada’s foreign investment performanceFootnote 5was good despite the global context, with flows of foreign direct investment (FDI) and Canadian direct investment abroad (CDIA) increasing. The United Nations Conference on Trade and Development (UNCTAD) estimated a slight decline in world FDI flows (1%) for 2019 due to weaker global macroeconomic performance and general uncertainty for investors. In contrast, for Canada both FDI and CDIA flows increased from the previous year and were...
The year 2020 started with what at first appeared to be a localized health crisis caused by a viral disease. During the first 3 months of 2020, however, this disease—eventually named COVID-19—would spread, provoking profound effects on the global economy and trade. At the end of February, the World Health Organization reported cases in almost 60 co...
Bank of Canada. “Monetary Policy Report, January 2020.” Bank of Canada Publications (2020). https://www.bankofcanada.ca/2020/01/mpr-2020-01-22 Blanchet, Nancy and Julia Sekkel (2020). "COVID-19 Intensifies Challenges for Canadian Exporters: Trade by Exporter Characteristics." Global Affairs Canada, Office of the Chief Economist. Working paper Boile...
Jun 24, 2020 · Lower shipments of motor vehicles and parts accounted for more than one-third of the overall decline in Canadian exports. Similarly, imports of motor vehicles and parts, down almost 80% in April, accounted for more than one-half of the overall decline in Canadian imports. Data table for Chart 4
- Annual Canadian Merchandise Trade, 2005-2020 ($ Billions) Figure 1: Text version. Export. Import. 2005. 436.35. 380.86. 2006. 440.37. 397.04. 2007. 450.32. 407.30.
- Monthly Canadian Merchandise Trade, 2020 ($ Billions) Figure 2: Text version. Export. Import. Jan. 47.38. 48.52. Feb. 48.62. 48.15. Mar. 45.83. 46.73. Apr. 32.92. 35.26.
- Monthly Canadian Merchandise Trade by Products, 2020. Figure 3: Text version. Motor vehicles and parts, Index (Feb 2020=100) Jan. Feb. Mar. Apr. May. Jun. Jul.
- Monthly Canadian Services Trade by Category, 2020. Figure 4: Text version. Export, Index (Feb 2020=100) Jan. Feb. Mar. Apr. May. Jun. Jul. Aug. Sep. Oct. Nov. Dec. Commercial services.
Feb 5, 2021 · For the year 2020, Canada's trade deficit totalled $36.2 billion, more than double the deficit observed in 2019. Total merchandise exports fell 12.3% in 2020, while imports were down 8.6%. By comparison, during the last major economic downturn, in 2009, annual merchandise exports dropped 24.6% and imports fell 15.7%.
Feb 7, 2006 · In 2020, goods and services imports equalled 33 per cent of Canada’s gross domestic product (GDP). Some 165,000 firms in Canada imported goods from countries around the world. Some 165,000 firms in Canada imported goods from countries around the world.
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On the import side, after falling by 9.8% in 2020, overall Canadian merchandise imports rebounded by 13.0% or $70 billion in 2021 to $614 billion in value—also a new record high. Unlike exports, merchandise import volumes also rose significantly in 2021, advancing by 9.2% compared to 2020, but still remained 0.5% below their pre-pandemic levels in 2019 (see Figure 4).
