Canada imported US$558.7 billion worth of products from foreign suppliers in 2023. That dollar amount results from a 23.2% increase compared to $453.7 billion spent during 2019.

Year over year, the overall value of products imported into Canada retreated by -2% from $570.2 billion in 2022.

Based on the average exchange rate for 2023, the Canadian dollar diluted by -1.7% against the US dollar since 2019 and declined by -3.7% from 2022 to 2023. 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 91.3% of products imported into Canada were furnished by exporters in: United States (75.6% of the Canadian total), mainland China (4.6%), United Kingdom (2.6%), Japan (2.3%), Mexico (1.3%), Germany (1.1%), South Korea (0.9%), Netherlands (0.8%), France (0.64%), Belgium (0.59%), Hong Kong (0.56%) and Norway (0.49%).

From a continental perspective, 56.5% of Canada’s total imports by value in 2023 were purchased from fellow North American nations United States of America and Mexico. Asian trade partners furnished 24.2% of imports bought by Canada while 14.1% worth originated from Europe.

Smaller percentages of Canadian imports came from Latin America (3.3%) excluding Mexico but including the Caribbean, Africa (1.4%), then Oceania (0.6%) led by Australia and New Zealand.

Given Canada’s population of 40.5 million people, its total $558.7 billion in goods imported during 2023 translates to about $13,800 in yearly product demand from every person in the North American country. That per-capita average lags the $14,600 one year earlier in 2022.

Canada’s Top 10 Imports

The following product groups represent the highest dollar value in Canada’s import purchases during 2023. Also shown is the percentage share each product category represents in terms of overall imports into Canada.

1. Vehicles: US$91.9 billion (16.5% of total imports)
2. Machinery including computers: $84.1 billion (15.1%)
3. Electrical machinery, equipment: $52.9 billion (9.5%)
4. Mineral fuels including oil: $38.4 billion (6.9%)
5. Gems, precious metals: $19.6 billion (3.5%)
6. Plastics, plastic articles: $19.3 billion (3.5%)
7. Pharmaceuticals: $18.9 billion (3.4%)
8. Optical, technical, medical apparatus: $15.1 billion (2.7%)
9. Articles of iron or steel: $12.7 billion (2.3%)
10. Furniture, bedding, lighting, signs, prefabricated buildings: $9.6 billion (1.7%)

Canada’s top 10 imports accounted for almost three-fifths (64.9%) of the overall value of its product purchases from other countries.

Canada’s spending on imported vehicles increased at the fastest pace among the top 10 import categories, up 14% from 2022 to 2023.

In second place was machinery including computers (up 4.6%) trailed by imports of optical, technical and medical apparatus (up 16.9%), electrical machinery and equipment (up 14.8%), machinery including computers (up 13.3%), optical, technical or medical apparatus (up 3.8%), then the gems and precious metals category (up 3.2%).

The strongest decliners among Canada’s most valuable import product categories were mineral fuels including oil (down -14.7% from 2022) and plastics both as materials and items made from plastic (down -14.2%).

At the more detailed four-digit Harmonized Tariff System code level, Canada’s 10 biggest export products by value in 2023 were cars, trucks, automobile parts or accessories, refined petroleum oils, crude oil, phone devices including smartphones, computers, gold, medication mixes in dosage, then turbo-jets. 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 2023, Canadian importers spent the most on the following 10 subcategories of vehicles.

1. Cars: US$38.4 billion (up 17.8% from 2023)
2. Trucks: $20.6 billion (up 10.2%)
3. Automobile parts/accessories: $20.2 billion (up 19.5%)
4. Tractors: $6 billion (up 26.7%)
5. Trailers: $3.1 billion (down -25.5%)
6. Special purpose vehicles: $1.1 billion (up 34%)
7. Motorcycles: $792.1 million (down -17.1%)
8. Public-transport vehicles: $633.4 million (up 35.3%)
9. Motorcycle parts/accessories: $284.6 million (down -22.7%)
10. Bicycles, other non-motorized cycles: $217.3 million (down -49.3%)

Among these import subcategories, Canadian purchases of public-transport vehicles (up 35.3%), special purpose vehicles (up 34%) then tractors (up 26.7%) grew at the fastest pace from 2022 to 2023.

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 2023, Canadian importers spent the most on the following 10 subcategories of machinery including computers.

1. Computers, optical readers: US$10 billion (down -12.3% from 2023)
2. Turbo-jets: $6.7 billion (up 16%)
3. Piston engines: $5 billion (up 35.6%)
4. Heavy machinery (bulldozers, excavators, road rollers): $4.8 billion (up 17.5%)
5. Taps, valves, similar appliances: $3.9 billion (up 0%)
6. Centrifuges, filters and purifiers: $3.5 billion (up 6.5%)
7. Transmission shafts, gears, clutches: $3.4 billion (up 4.7%)
8. Temperature-change machines: $3.22 billion (up 9.6%)
9. Machinery parts: $3.21 billion (down -2.9%)
10. Liquid pumps and elevators: $3.1 billion (up 5%)

Among these import subcategories, Canadian purchases of piston engines (up 35.6%), heavy machinery including bulldozers, excavators and road rollers (up 17.5%) then turbo-jets (up 16%) grew at the fastest pace from 2022 to 2023.

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 2023, Canadian importers spent the most on the following 10 subcategories of electrical goods including consumer electronics.

1. Phone devices including smartphones: US$12.7 billion (down -1.1% from 2023)
2. Insulated wire/cable: $4.3 billion (down -2.4%)
3. Electrical converters/power units: $2.8 billion (up 6.52%)
4. Electric storage batteries: $2.7 billion (up 35.1%)
5. Lower-voltage switches, fuses: $2.4 billion (up 0.5%)
6. Electrical/optical circuit boards, panels: $2.3 billion (up 16.6%)
7. TV receivers/monitors/projectors: $2.1 billion (down -18%)
8. TV receiver/transmit/digital cameras: $2 billion (up 21.5%)
9. Integrated circuits/microassemblies: $1.9 billion (down -28%)
10. Electric water heaters, hair dryers: $1.9 billion (down -11%)

Among these import subcategories, Canadian purchases of electric storage batteries (up 35.1%), television receivers, transmitters and digital cameras (up 21.5%) then electrical or optical circuit boards and panels (up 16.6%) grew by double-digit percentages from 2022 to 2023.

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 2023, 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 2022)
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 2022 to 2023.

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 March 19, 2024

Forbes Global 2000 rankings, The World’s Biggest Public Companies. Accessed on March 19, 2024

Imported Consumer Products, Canada’s Top 100 Imported Consumer Products. Accessed on June 19, 2023

International Monetary Fund, Exchange Rates selected indicators (Domestic Currency per U.S. dollar, period average). Accessed on March 19, 2024

International Monetary Fund, World Economic Outlook Database (GDP based on Purchasing Power Parity). Accessed on March 19, 2024

International Trade Centre, Trade Map. Accessed on March 19, 2024