Imports to Canada dropped 3.9% from a month earlier to CAD 35.29 billion in May 2020, the lowest since November of 2010 and below market estimates of CAD 38.1 billion, reflecting supply challenges at a time when various economies around the world were progressively re-opening. Purchases fell mostly for basic and industrial chemical, plastic and rubber products (-14.4%); and motor vehicles and parts (-14.8%), namely passenger cars (-96.5%). On the other hand, imports of consumer goods increased 3.4 percent, led by miscellaneous goods and supplies (+27.1%) and carpets, textile furnishings and other textile products (+42.5%). Imports from the US advanced 1.2% to CAD 20.4 billion, while purchases from non-US countries plunged 10.1%, with the UK (refined gold), South Korea (motor vehicles) and Japan (motor vehicles) contributing the most to the decline.
Imports in Canada averaged 21511.42 CAD Million from 1971 until 2020, reaching an all time high of 52875.70 CAD Million in March of 2019 and a record low of 1112 CAD Million in January of 1971. This page provides the latest reported value for - Canada Imports - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news. Canada Imports - data, historical chart, forecasts and calendar of releases - was last updated on July of 2020. source: Statistics Canada
Imports in Canada is expected to be 43500.00 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 50100.00 in 12 months time. In the long-term, the Canada Imports is projected to trend around 51300.00 CAD Million in 2021 and 51000.00 CAD Million in 2022, according to our econometric models.