Canada imported US$554.2 billion worth of products from foreign suppliers in 2024. That dollar amount results from a 36.6% increase in spending compared to $405.7 billion spent during 2020.

Year over year, the overall value of products imported into Canada flatlined via a -0.9% retreat from $559.2 billion in 2023.

Based on the average exchange rate for 2024, the Canadian dollar diluted by -1.5% against the US dollar from 2023 to 2024. Canada’s weaker local currency made its imports paid for in stronger US dollars relatively more expensive when converted starting from the Canadian loonie.

Canada’s Best International Trade Suppliers

The latest available country-specific data shows that 83.8% of products imported into Canada was furnished by exporters in: United States of America (49.5% of the Canadian total), mainland China (11.5%), Mexico (6.2%), Germany (3.1%), Japan (2.8%), South Korea (2.2%), Vietnam (1.9%), Italy (1.6%), Brazil (1.34%), France (1.28%), United Kingdom (1.25%) and India (1.05%).

From a continental perspective, 56.4% of Canada’s total imports by value in 2024 was purchased from fellow North American nations United States of America and Mexico. Asian trade partners furnished 24.4% of imported products bought by Canada while 13.6% worth originated from Europe.

Smaller percentages of Canadian imports came from suppliers in Latin America (3.8%) excluding Mexico but including the Caribbean, Africa (1.2%), then Oceania (0.5%) led by Australia and New Zealand.

Given Canada’s population of 41.1 million people, its total $554.2 billion worth of goods imported during 2024 translates to about $13,500 in yearly product demand from every person in the North American country. That per-capita average lags the $13,800 one year earlier in 2023.

Canada’s Top 10 Imports

The following product groups represent the highest dollar value in Canada’s import purchases during 2024. Also shown is the percentage share each product category represents in terms of overall imports into Canada.

1. Vehicles: US$90.4 billion (16.3% of total imports)
2. Machinery including computers: $82.7 billion (14.9%)
3. Electrical machinery, equipment: $52.1 billion (9.4%)
4. Mineral fuels including oil: $34.6 billion (6.2%)
5. Plastics, plastic articles: $19.5 billion (3.5%)
6. Gems, precious metals: $19.2 billion (3.5%)
7. Pharmaceuticals: $19 billion (3.4%)
8. Optical, technical, medical apparatus: $15.6 billion (2.8%)
9. Articles of iron or steel: $11.9 billion (2.1%)
10. Furniture, bedding, lighting, signs, prefab buildings: $9.3 billion (1.7%)

Canada’s top 10 imports generated almost three-fifths (63.9%) of the overall value of its product purchases from other countries.

Canada’s spending on imported optical, technical or medical apparatus increased at the fastest pace among the top 10 import categories, up 3.7% from 2023 to 2024.

In second place was plastics including materials and items made from plastic (up 1.2%) trailed by imports of pharmaceuticals (up 0.1%).

The strongest decliners among Canada’s most valuable import product categories were mineral fuels including oil (down -9.5% from 2023) and items made from iron or steel (down -6.2%).

At the more detailed four-digit Harmonized Tariff System code level, Canada’s 10 biggest export products by value in 2024 were cars (7.2% of the Canadian total), trucks (3.6%), automobile parts or accessories (3.4%), refined petroleum oils (2.8%), crude oil (2.5%), phone devices including smartphones (2.2%), computers including optical readers (1.9%), medication mixes in dosage (also 1.9%), gold then turbo-jets (1.4%).

Collectively, those major Canadian imports exceed one-quarter (28.6%) of the Canada’s overall import purchases.

For a more detailed view of imported goods at the four-digit HTS code level for the leading product categories, see the sections below.

Canada’s Top Vehicles Imports

In 2024, Canadian importers spent the most on the following 10 subcategories of vehicles.

1. Cars: US$39.9 billion (up 3.4% from 2023)
2. Trucks: $19.9 billion (down -3.4%)
3. Automobile parts/accessories: $18.8 billion (down -7.3%)
4. Tractors: $5.3 billion (down -11.8%)
5. Trailers: $2.6 billion (down -15.5%)
6. Special purpose vehicles: $1.4 billion (up 22.6%)
7. Public-transport vehicles: $816.4 million (up 28.8%)
8. Motorcycles: $735.4 million (down -7.2%)
9. Motorcycle parts/accessories: $262.6 million (down -7.8%)
10. Armored vehicles, tanks: $245.8 million (up 27.8%)

Among these import subcategories, Canadian purchases of public-transport vehicles (up 28.8%), armored vehicles and tanks (up 27.8%) then special purpose vehicles (up 22.6%) grew at the fastest pace from 2023 to 2024.

These amounts and the percentage gains within parenthesis clearly show where the strongest demand lies for different types of imported vehicles among Canadian businesses and consumers.

Canada’s Top Machinery Imports

In 2024, Canadian importers spent the most on the following 10 subcategories of machinery including computers.

1. Computers, optical readers: US$10.6 billion (up 5.5% from 2023)
2. Turbo-jets: $7.8 billion (up 14.9%)
3. Piston engines: $4.7 billion (down -7.2%)
4. Taps, valves, similar appliances: $3.92 billion (up 0.4%)
5. Heavy machinery (bulldozers, excavators, road rollers): $3.91 billion (down -17.9%)
6. Transmission shafts, gears, clutches: $3.4 billion (down -2.1%)
7. Centrifuges, filters and purifiers: $3.3 billion (down -6%)
8. Liquid pumps and elevators: $3.14 billion (up 1.3%)
9. Machinery parts: $3.07 billion (down -4.6%)
10. Miscellaneous machinery: $2.4 billion (up 8.8%)

Among these import subcategories, Canadian purchases of turbo-jets (up 14.9%), miscellaneous machinery (up 8.8%) then computers including optical readers (up 5.5%) grew at the fastest pace from 2023 to 2024.

These amounts and the percentage gains within parenthesis clearly show where the strongest demand lies for different types of imported machinery among Canadian businesses and consumers.

Canada’s Top Electrical Imports

In 2024, Canadian importers spent the most on the following 10 subcategories of electrical goods including consumer electronics.

1. Phone devices including smartphones: US$12.4 billion (down -2.7% from 2023)
2. Insulated wire/cable: $4.1 billion (down -4.7%)
3. Electric storage batteries: $3.7 billion (up 39.63%)
4. Electrical converters/power units: $2.9 billion (up 4.5%)
5. Lower-voltage switches, fuses: $2.5 billion (up 4.1%)
6. Electrical/optical circuit boards, panels: $2.4 billion (up 6.8%)
7. TV receiver/transmit/digital cameras: $1.92 billion (down -4.4%)
8. Electric water heaters, hair dryers: $1.91 billion (up 0.5%)
9. TV receivers/monitors/projectors: $1.86 billion (down -9.9%)
10. Electric motors, generators: $1.7 billion (up 0.7%)

Among these import subcategories, Canadian purchases of electric storage batteries (up 39.6%), electrical or optical circuit boards and panels (up 6.8%) then electrical converters and power units (up 4.5%) grew at the fastest pace from 2023 to 2024.

These amounts and the percentage gains within parenthesis clearly show where the strongest demand lies for different types of imported electrical goods among Canadian businesses and consumers.

Canada’s Top Mineral Fuels Imports

In 2024, Canadian importers spent the most on the following 10 subcategories of mineral fuels-related products.

1. Processed petroleum oils: US$17.5 billion (down -13.5% from 2023)
2. Crude oil: $14.5 billion (down -12.4%)
3. Petroleum gases: $2.5 billion (down -46.1%)
4. Electrical energy: $1.2 billion (up 60.9%)
5. Coal, solid fuels made from coal: $1.1 billion (up 8.1%)
6. Petroleum oil residues: $623.7 million (down -12.6%)
7. Coke, semi-coke: $401.1 million (up 5.5%)
8. Petroleum jelly, mineral waxes: $300.1 million (down -25.4%)
9. Distilled tar: $71.4 million (up 12.3%)
10. Coal tar oils (high temperature distillation): $68.5 million (down -3.4%)

Among these import subcategories, Canadian purchases of electrical energy (up 60.9%), distilled tar (up 12.3%) then coal including solid fuels made from coal (up 8.1%) grew at the fastest pace from 2023 to 2024.

These amounts and the percentage gains within parenthesis clearly show where the strongest demand lies for different types of imported mineral fuels-related goods among Canadian businesses and consumers.
 

 

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

Research Sources:
Central Intelligence Agency, The World Factbook Country Profiles. Accessed on February 24, 2025

Forbes Global 2000 rankings, The World’s Biggest Public Companies. Accessed on February 24, 2025

Imported Consumer Products, Canada’s Top 100 Imported Consumer Products. Accessed on June 19, 2024

International Monetary Fund, World Economic Outlook Database (GDP based on Purchasing Power Parity). Accessed on February 24, 2025

International Trade Centre, Trade Map. Accessed on February 24, 2025

X-rates.com, Exchange Rates: Canadian Dollar to US Dollar (monthly average 2024). Accessed on February 25, 2025