Exporting to Canada

Canada Export Guide | Trade Finance Global

Exporting to Canada

With the 12th largest economy in the world Canada imports about $440 billion annually. Favourable growth conditions since the 2008 GFC and some of the world’s largest reserves of oil, gas and minerals are contributing to a stable economy with a $2 trillion GDP or per capita GDP of nearly $56,000.

Canada has negotiated 10 free trade agreements with different countries, including the CETA Agreement with the EU which will eliminate about 98% of tariffs between the two bodies. Top imports to Canada are cars ($26.1 billion), crude petroleum ($24.3 billion) and vehicle parts ($21.4 billion) while major importing partners are the United States ($230 billion), China ($48.9 billion), Mexico ($23.6 billion) and Germany ($13.9 billion).

Canada Country Profile

Official Name (Local Language)Canada
CapitalOttawa
Population35,362,905
CurrencyCanadian Dollar
GDP$1,532 billion
LanguagesEnglish, French
Telephone Dial In1

Canada Exports Profile

Exports ($m USD)

420,632

Number of Export Products

4,378

Number of Export Partners

222

Top 5 export partners

Country

Trade

%

United States

319,067

75.85

China

18,187

4.32

United Kingdom

13,636

3.24

Japan

9,118

2.17

Mexico

6,052

1.44

Top 5 Export Products at HS 6 digit level

Export Product

Number

Petroleum oils and oils obtained from bituminou

12.8%

Automobiles with reciprocating piston engine di

11.1%

Automobiles with reciprocating piston engine di

3.1%

Gold in unwrought forms non-monetary

2.7%

Petroleum oils, etc, (excl. crude); preparation

2.5%

Chart Showing GDP Growth Compared to rest of world

GDP Composition for Canada

Agriculture

%

Product List

1.6%

Wheat, barley, oilseed, tobacco, fruits, vegetables; dairy products; fish; forest products

Industry

%

Industry List

27.7%

Transportation equipment, chemicals, processed and unprocessed minerals, food products, wood and paper products, fish products, petroleum, natural gas

Services

%

Service List

70.7%

Exporting to Canada: What is trade finance?

Stock finance is a revolving facility which some banks and specialist lenders offer – it enables firms to purchase stock supplies and can help ease working capital problems.

Generally, a trade financier will fund all of the cost of the products, including charges (e.g. fees).

Trade finance offers upsides over more traditional bank finance such as bridging mortgages or loans. Trade finance provides up front funding without affecting existing bank relationships.

How does it work?
If you’re a business importing or exporting goods around the world, then a trade finance facility would allow you to fund this through offering a letter of credit or some form of cash advance.

I’m looking to import from Canada, how can Trade Finance Global help, and how does it work?
If you are looking to import inventory from other international markets, you may require import finance, which is an agreement between yourself (the importer) and the foreign exporter. A alternative finance bank will act as the intermediary, paying the foreign exporter on your behalf until you receive the stock supplies and have then sold them to your customer. Repaying the lender then occurs over an agreed period of time.

information

Exporting to Canada? Contact our local experts

Canada Economic Statistics

Government Website

https://www.canada.ca/

Sovereign Ratings

https://countryeconomy. com/ratings/canada

Central Bank

Bank of Canada

Currency USD Exchange Rate

1331

Unemployment Rate

7.1%

Population below poverty line

9.4%

Inflation Rate

1.6%

Prime Lending Rate

0,01

GDP

$1,532 billion

GDP Pro Capita (PPP)

$46,200

Currency Name

Canadian Dollar

Currency Code

CAD

World Bank Classification

High Income

Competitive Industrial Performance

15/138

Corruption Perceptions Index

8/180

Ease of Doing Business

22/190

Enabling Trade Index

24/136

Currency in Canada

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