Question

In: Economics

In a well worded paragraph answer, What has been Canada's main imports and exports over the...

In a well worded paragraph answer, What has been Canada's main imports and exports over the past ten years?

Solutions

Expert Solution

Canada is the world's twelfth largest export market, and according to the Economic Complexity Index (ECI), the 24th most complex market. Canada exported $377B in 2017, and imported $326B, resulting in a $51.2B positive trade balance. Canada's GDP was $1.65 T in 2017 and its per-capita GDP was $46.7k.

Canada's main exports are Crude Petroleum ($54.1B), Vehicles ($46.5B), Refined Petroleum ($11.5B), Vehicle Parts ($10.4B), and Natural Gas ($10.2B), using the 1992 revision of the classification HS (Harmonized System).

Its top imports are Cars ($28.5B), Distribution Trucks ($15.6B), Crude Petroleum ($12.1B) and Computers ($7.19B). Canada's main export destinations are the United States ($274B), China ($18.4B), Japan ($9.7B), Mexico ($8.1B) and Great Britain ($7.47B). The top sources of imports are the USA ($149B), China ($50B), Mexico ($22B), Germany ($12.3B) and Japan ($11.7B).Canada shares on land with the United States, and by sea Greenland and Saint Pierre and Miquelon.


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