Sarah Chung (She/Her) is a digital marketing intern with Jenik Freight. She is currently a fourth year student at the University of Calgary in the process of completing her BA Honours in Communication and Media Studies.
In a fast-paced, interconnected world fueled by global trade, Canada stands tall as one of the world’s most influential trade leaders. With its vast resources, strategic geographic location, and unwavering commitment to cultivating trade relationships, Canada has emerged as a central hub for importers and exporters from around the globe. Whether it’s the export of natural resources or the import of cutting-edge technologies, Canada’s import/export sector plays a pivotal role in driving its economic growth and firmly connecting it to the global economy.
But have you ever wondered about the unsung heroes who work tirelessly behind the scenes to make this intricate dance of global trade possible? Enter the logistics and freight industry—the driving force behind Canada’s rise as a trade powerhouse.
Today, our Jenik Freight team will help you explore twelve captivating insights about import and export (2021-22) with statistics from the Observatory of Economic Complexity (OEC).
Overview of Import/Export in Canada
According to the Observatory of Economic Complexity (OEC),
As of 2021, Canada held the 9th position globally in terms of GDP (current US$), making it one of the top economies in the world.
It also ranked 9th in total exports and 12th in total imports, highlighting its significant participation in international trade.
Additionally, Canada stood as the 16th economy in terms of GDP per capita (current US$), reflecting its economic output relative to its population.
In terms of economic complexity, Canada ranked 32nd on the Economic Complexity Index (ECI), showcasing the level of diversification and sophistication in its economy.
The top imports of Canada are Cars ($27.2B), Car parts and accessories ($14.5B), Delivery Trucks ($14.2B), Refined Petroleum ($12.5B), and Crude Petroleum ($11.9B).
In December 2022, Canada experienced a significant increase in year-by-year exports.
The rise was primarily driven by higher exports to the United States (C$3.17 billion or 7.84%), China (C$559 million or 26%), and India (C$401 million or 121%).
Notably, there was an increase in exports of Wheat (C$558 million or 119%), Delivery Trucks (C$441 million or 343%), and Car parts and accessories (C$379 million or 35.7%).
The logistics and freight industry facilitates the global trade flow, ensuring seamless transportation and efficient supply chain management from Canada and beyond. As a leading freight forwarding company, our Jenik Freight team takes pride in being a part of this intricate dance of global trade, working tirelessly to ensure the smooth movement of goods across borders and, thus, aiding in Canada’s placement as one of the world’s leaders in global trade and contributing to the significant growth the Canadian market has witnessed in recent years.
Canada’s import and export landscape is dynamic and offers immense potential for businesses worldwide. At Jenik Freight, we are committed to supporting our clients in navigating this complex landscape, leveraging our expertise and networks to unlock new opportunities and optimize trade operations.
Whether you’re an importer seeking reliable transportation solutions or an exporter looking to reach new markets, Canada’s import and export landscape presents many possibilities. By partnering with a trusted freight forwarding company like Jenik Freight, you can unlock the full potential of Canada’s trade ecosystem and propel your business toward global success.
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