Canada’s Top 10 Exports 2020




Basicby Flagpictures.orgNicknamed the Great White North, Canada exported a total US$390.8 billion worth of products around the globe in 2020. That dollar amount reflects a 0.1% increase since 2016 but a -12.5% dip from 2019 to 2020.

Based on the average exchange rate for 2020, the Canadian dollar has depreciated by -1.2% against the US dollar since 2016 and retreated by -1.1% from 2019 to 2020. Canada’s weaker local money made Canadian exports paid for in stronger US dollars comparatively less expensive for international buyers.

Canada’s biggest export products by value in 2020 were crude oil, cars, gold, automotive parts or accessories and sawn wood. In aggregate, those major exports explain over one quarter of the Canada’s overall exports sales. The commodities themselves suggest a modestly diversified range of exported goods.

Canada ranks among world-leading nations for exporting sawn wood, crude oil, cars and gold.

The latest obtainable country-specific data shows that 91.4% of products exported from Canada were bought by importers in: United States (73.5% of the global total), China (4.8%), United Kingdom (3.8%), Japan (2.4%), Germany (1.2%), Mexico (1.2%), Netherlands (1.0%), South Korea (0.9%), France (0.7%), Italy (0.7%), India (0.7%) and Norway (0.5%).

From a continental perspective, 74.6% of Canada’s exports by value were delivered to fellow North American countries while 12.3% were sold to Asian importers. Canada shipped another 10.1% worth of goods to Europe. Smaller percentages went to Latin America excluding Mexico but including the Caribbean (1.4%), Africa (1%) then Oceania led by Australia and New Zealand (0.5%).

Given Canada’s population of 38 million people, its total $390.8 billion in 2020 exports translates to approximately $10,300 for every resident.

Top 10

The following export product groups categorize the highest dollar value in Canadian global shipments during 2020. Also shown is the percentage proportion each export category represents in terms of overall exports from Canada.

  1. Mineral fuels including oil: US$69.1 billion (17.7% of total exports)
  2. Vehicles: $46.5 billion (11.9%)
  3. Machinery including computers: $28.9 billion (7.4%)
  4. Gems, precious metals: $23 billion (5.9%)
  5. Wood: $13.5 billion (3.4%)
  6. Plastics, plastic articles: $12.4 billion (3.2%)
  7. Electrical machinery, equipment: $11 billion (2.8%)
  8. Ores, slag, ash: $9.9 billion (2.5%)
  9. Aircraft, spacecraft: $9.7 billion (2.5%)
  10. Pharmaceuticals: $8.5 billion (2.2%)

Canada’s top 10 exports are worth about three-fifths (59.5%) of the overall value of Canadian global shipments.

Wood was the fastest grower among the top 10 export categories, up by 15% year over year since 2019. In second place for improving export sales was ores, slag and ash which rose 12.3% led by iron and copper. Canada’s shipments of gems and precious metals posted the third-fastest gain in value up by 8% year over year notably due to higher revenues for exported platinum and silver.

The leading decliner among Canada’s top 10 export categories was mineral fuels including oil which fell -29.8%, weighed down by shrinking revenues for petroleum oils and gases.

observe that the results listed above are at the categorized two-digit Harmonized Tariff System (HTS) code level. For a more granular view of exported goods at the four-digit HTS code level, see the section Searchable List of Canada’s Most Valuable Export Products further down near the bottom of this article.

Advantages

The following types of Canadian product shipments represent positive net exports or a trade balance surplus. Investopedia defines net exports as the value of a country’s total exports minus the value of its total imports.

In a nutshell, net exports represent the amount by which foreign spending on a home country’s goods or sets exceeds or lags the home country’s spending on foreign goods or sets.

  1. Mineral fuels including oil: US$49 billion (Down by -24.9% since 2019)
  2. Wood: $10.7 billion (Up by 21.8%)
  3. Ores, slag, ash: $7.1 billion (Up by 21.7%)
  4. Cereals: $6.8 billion (Up by 18.8%)
  5. Oil seeds: $6.6 billion (Up by 44.3%)
  6. Gems, precious metals: $5.6 billion (Down by -48.8%)
  7. Aluminum: $4.6 billion (Up by 6.8%)
  8. Woodpulp: $4.6 billion (Down by -18.1%)
  9. Meat: $4.1 billion (Up by 7.5%)
  10. Fertilizers: $3.7 billion (Down by -8.5%)

Canada has highly positive net exports in the international trade of crude oil, petroleum gas, coal and electricity. The positive cashflows indicate Canada’s strong competitive advantages under the mineral fuels-related category.

Opportunities

Overall Canada incurred a -$6.6 billion trade deficit for 2020, down by -27.8% from the -$9.1 billion in red ink one year earlier.

Below are exports from Canada that are negative net exports or product trade balance deficits. These negative net exports show product categories where foreign spending on home country Canada’s goods trail Canadian importer spending on foreign products.

  1. Machinery including computers: -US$32.3 billion (Down by -6.2% since 2019)
  2. Electrical machinery, equipment: -$28.6 billion (Down by -6.6%)
  3. Vehicles: -$9.7 billion (Down by -25.2%)
  4. Pharmaceuticals: -$5.8 billion (Up by 7.1%)
  5. Optical, technical, medical apparatus: -$5.1 billion (Down by -6.4%)
  6. Articles of iron or steel: -$4.4 billion (Down by -17.5%)
  7. Fruits, nuts: -$4.2 billion (Up by 3.1%)
  8. Knit or crochet clothing, accessories: -$4 billion (Down by -17.1%)
  9. Beverages, spirits, vinegar: -$3.7 billion (Down by -2%)
  10. Clothing, accessories (not knit or crochet): -$3.6 billion (Down by -5%)

Canada has highly negative net exports and consequently thorough international trade deficits for products including computers spanning myriad types and sizes. Red ink under the machinery including computer category also encompasses bulldozers and similar heavy construction equipment.

These cashflow deficiencies clearly indicate Canada’s competitive disadvantages in the international machinery market including computer-related goods, but also represent meaningful opportunities for Canada to enhance its position in the global economy by targeted innovations.

Companies

Wikipedia lists many of the larger international trade players from Canada.

  • Barrick Gold (diversified metals, mining)
  • Bombardier Inc. (aerospace, transit vehicles)
  • Cameco (uranium)
  • Canadian Natural Resources (oil, gas)
  • Encana (oil, gas)
  • Magna International (automotive parts)
  • Potash Corporation of Saskatchewan (specialized chemicals)
  • Saputo (dairy products)
  • Suncor Energy (oil, gas)

According to global trade intelligence firm Zepol, the following smaller companies are also examples of leading Canadian exporters.

  • Interex Forest Products (wood, strand board)
  • West Fraser Mills (wood, chemical woodpulp)
  • Weyerhaeuser (wood, chemical woodpulp)

 

Searchable List of Canada’s Most Valuable Export Products

At the more granular four-digit HTS code level, the following searchable table displays 100 of the most in-need goods shipped from Canada during 2020. Shown beside each product label is its total export value then the percentage increase or decline since 2019.

RankCanada’s Export Product2020 Value (US$)Change1Crude oil$47,785,246,000-29.8%2Cars$32,289,722,000-20.7%3Gold (unwrought)$16,092,664,000+4.9%4Automobile parts/accessories$9,157,323,000-15.9%5Sawn wood$7,770,332,000+21.9%6Medication mixes in dosage$7,517,142,000+2%7Processed petroleum oils$7,223,993,000-40.6%8Petroleum gases$7,102,946,000-22.5%9Wheat$6,287,210,000+16.7%10Aircraft, spacecraft$6,224,974,000-7%11Iron ores, concentrates$5,732,279,000+15.8%12Aluminum (unwrought)$5,453,162,000+1.9%13Rape/colza seeds$4,686,869,000+44.6%14Turbo-jets$4,630,614,000-27.3%15Potassic fertilizers$4,499,988,000-9.2%16Ethylene polymers$3,537,403,000-8.1%17Chemical woodpulp (non-dissolving)$3,458,452,000-19.1%18Coal, substantial fuels made from coal$3,384,193,000-34.8%19Copper ores, concentrates$3,230,415,000+13.9%20Dried shelled vegetables$3,193,855,000+37.9%21Swine meat$3,151,671,000+21.5%22Bread, biscuits, cakes, pastries$3,138,774,000+1.6%23Rape/colza/mustard oil$2,818,668,000+8.3%24Aircraft parts$2,615,118,000-25.4%25Crustaceans (including lobsters)$2,578,218,000-16.6%26Miscellaneous furniture$2,405,308,000-17%27Piston engines$2,064,674,000-14%28Particle board, other ligneous materials$2,004,945,000+40.6%29Soya beans$1,956,555,000+26.4%30Plastic packing goods, lids, caps$1,902,336,000+3.1%31Electrical energy$1,896,249,000-0.7%32Fresh or chilled beef$1,805,994,000+2%33Precious metal waste, fragment$1,687,012,000+26.2%34Machinery parts$1,631,513,000-23.4%35Trucks$1,614,068,000-66%36Chocolate, other cocoa preparations$1,611,016,000+1%37Phone system devices$1,594,804,000-14.3%38Nickel (unwrought)$1,512,511,000-1.4%39Radioactive chemical elements$1,479,485,000+11.8%40Coins$1,479,251,000+90.9%41Computers, optical readers$1,470,224,000-11.2%42Plastic plates, sheets, film, tape, strips$1,463,580,000+1.8%43Centrifuges, filters and purifiers$1,441,615,000+0.9%44Seats (excluding barber/dentist chairs)$1,414,368,000-15.1%45Miscellaneous oil cakes$1,399,863,000+10.2%46Miscellaneous machinery$1,399,156,000-8%47Rubber tires (new)$1,371,630,000-19.7%48Iron or steel fragment$1,342,658,000-2.4%49Miscellaneous iron and steel structures$1,281,877,000-3.2%50Wood carpentry, builders’ joinery$1,256,916,000+2.1%51Other food preparations$1,254,618,000+8.7%52Other precious metal items$1,249,614,000+76.8%53Zinc (unwrought)$1,242,857,000-17.8%54Uncoated paper for writing/printing$1,239,597,000-13.6%55Liquid pumps and elevators$1,236,489,000-16.4%56Miscellaneous plastic items$1,168,889,000+0.3%57Armored vehicles, tanks$1,097,741,000-48.1%58Other prepared/preserved vegetables (frozen)$1,069,153,000-2.3%59Beauty/makeup/skin care preparations$1,068,654,000-17.2%60perfected copper, unwrought alloys$1,030,345,000+13.9%61Moulding boxes/base$1,008,090,000-15.6%62Electro-medical equip (e.g. xrays)$1,007,708,000-12%63Lifting/loading machinery$1,000,437,000-8.7%64Transmission shafts, gears, clutches$999,395,000-21%65Miscellaneous animal satisfy preparations$998,654,000+16.7%66Nickel matte, oxide sinters$979,799,000-4.6%67Copper wire$975,640,000-14.4%68Electrical/optical circuit boards, panels$962,856,000-7.2%69Newsprint (rolls or sheets)$960,668,000-31.5%70Other measuring/testing machines$953,189,000-9.9%71Silver (unwrought)$935,052,000+24%72Semi-chemical woodpulp$921,976,000-7.8%73Taps, valves, similar appliances$915,062,000-22.1%74Diamonds (unmounted/unset)$894,015,000-45.5%75Live bovine cattle$891,989,000-8.9%76Electrical converters/strength units$890,306,000-9.8%77Flat-rolled iron or non-alloy steel products (plated/coated)$889,453,000-3.7%78Paper containers, cellulose wadding$866,909,000-2.2%79Petroleum oil residues$862,703,000-23.4%80Other diagnostic/lab reagents$852,130,000+29.2%81Aircraft set afloat gear, ground fly trainer$846,245,000-20.3%82Miscellaneous fresh/chilled vegetables$828,660,000+12.4%83Base metal mountings, fittings$822,785,000-19.3%84TV receiver/transmit/digital cameras$797,216,000-24%85Acyclic alcohols$785,155,000-18.1%86Lamps, lighting, illuminated signs$781,906,000-15.7%87Acyclic hydrocarbons$777,747,000-20.6%88Miscellaneous iron or steel items$776,342,000-12.1%89Hot-rolled iron or non-alloy steel products$766,587,000-15.2%90Integrated circuits/microassemblies$763,668,000-49.9%91Air conditioners$762,690,000+20.7%92Rubber/plastic article making machines$743,284,000-17.9%93Piston engine parts$710,531,000-30.2%94Temperature-change machines$709,286,000-15.8%95Physical/chemical examination tools$709,139,000+1.4%96Miscellaneous iron or steel tubes, pipes$700,202,000+7.1%97Insulated wire/cable$697,443,000-14%98Sanitary towels, baby napkins/liners$683,233,000+2.9%99Whole fish (fresh)$675,624,000-11.5%100Uncoated paper$667,442,000+1.8%
These 100 exported goods were worth a subtotal of US$285.8 billion or 73.1% by value for all products exported from Canada during 2020.

In macroeconomic terms, Canada’s total exported goods represent 21.6% of its overall Gross Domestic Product for 2020 ($1.809 trillion valued in Purchasing strength Parity US dollars). That 21.6% for exports to overall GDP per PPP in 2020 compares to 23.5% one year earlier. This seems to indicate a decreasing reliance on products sold on international markets for Canada’s total economic performance, albeit based on a limited timeframe.

Another meaningful indicator of a country’s economic performance is its unemployment rate. Canada’s unemployment rate was 9.4% for 2020 according to the International Monetary Fund, approaching double the average 5.825% in 2019.

See also Canada’s Top 10 Imports, Canada’s Top Trading Partners, Top Canadian Trade Balances and Canada’s Top 10 Major Export Companies

Research supplies:
Central Intelligence Agency, The World Factbook Country Profiles. Accessed on April 28, 2021

Forbes Global 2000 rankings, The World’s Biggest Public Companies. Accessed on April 28, 2021

International Monetary Fund, Exchange Rates chosen indicators (National money per U.S. dollar, period average). Accessed on April 28, 2021

International Monetary Fund, World Economic Outlook Database (GDP based on Purchasing strength Parity). Accessed on April 28, 2021

International Trade Centre, Trade Map. Accessed on April 28, 2021

Investopedia, Net Exports Definition. Accessed on April 28, 2021

Richest Country Reports, meaningful Statistics Powering Global Wealth. Accessed on April 28, 2021

Wikipedia, Cosmetic industry. Accessed on April 28, 2021

Wikipedia, Gross domestic product. Accessed on April 28, 2021

Wikipedia, Purchasing strength parity. Accessed on April 28, 2021

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