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).

Exporting to Canada? Contact our local experts


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Country Profile

Capital Canada Flag Motto:A Mari Usque Ad Mare(Latin)(English: "From Sea to Sea") Anthem:"O Canada" Royal anthem:"God Save the Queen" Ottawa
Population
Area 9,984,670  km2 (3,855,100 sq mi)
km2 (2nd)
Currency Canadian dollar (CAD)
GDP
LanguagesEnglish, French

Canada: Imports Profile

Imports from Canada

Imports from Canada: $416.6 billion
Import commodities:Machinery and equipment, motor vehicles and parts, crude oil, chemicals, electricity, durable consumer goods
Top import destinations:United States 52.2%  China 12.1%  European Union 11.4%  Mexico 6.2%  Japan 3% Other 15.1%
GDP growth (annual %)

Exporting to Canada: What is trade finance?

Export finance is a revolving facility which some banks and specialist lenders offer - it enables SMEs to purchase stock and can help ease working capital issues.

Often, a trade finance bank will fund up to 100% of the cost of the product, including charges (e.g. VAT charges).

Trade finance offers advantages over more traditional bank finance such as invoice finance or business loans. Trade finance provides quick funding without affecting existing relationships with banks.

How does it work?

If you're an SME importing or exporting inventory internationally, then a trade finance facility would allow you to fund this through offering a letter of credit (LC) or some form of cash advance.

I’m looking to export to Canada, how can Trade Finance Global help, and how does it work?

If you are looking to export goods to other countries, you may need export finance, which is a commercial agreement between yourself (the exporter), and the foreign importer. A alternative financier would advance you the cost of producing the inventory that you’re exporting (as a debt instrument), either once you have sent the goods, or before manufacturing them. Once the importer has received the goods and pays you for the import, you will repay the advance loan from the funder over an agreed period of time.

Read the TFG Exporters Guide here.

Importing from Canada? Contact our local experts

Country Profile

Capital Canada Flag Motto:A Mari Usque Ad Mare(Latin)(English: "From Sea to Sea") Anthem:"O Canada" Royal anthem:"God Save the Queen" Ottawa
Population
Area 9,984,670  km2 (3,855,100 sq mi)
km2 (2nd)
Currency Canadian dollar (CAD)
GDP
LanguagesEnglish, French

0.34

Econ Complexity 29th of 89
1980
2016

$387B

Exports 12th of 120
1980
2016

$399B

Imports 9th of 120
1980
2016

$44k

GDP Per Capita 13th of 89
1990
2016
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