Imports to Canada rose 1.2 percent month-over-month to CAD 50.9 billion in July 2019 from a downwardly revised CAD 50.28 billion in the previous month but below market expectations of CAD 51.8 billion. Imports of consumer goods (2.4 percent) drove the increase, primarily pharmaceutical products (19.7 percent), which hit a record high in July, mainly from Switzerland and Germany. Also, purchases went up for aircraft and other transportation equipment and parts (10.2 percent), namely locomotive cars used to transport crude oil, and parts for armoured vehicles. Imports of metal ores and non-metallic minerals rebounded (12.6 percent vs -13.6 percent in June), namely bauxite and aluminum oxide used in aluminum production, as activities at certain aluminum smelters resumed. Gold imports also rose, driven mainly by increased shipments from Japan and Peru. Imports from the US rose 1.6 percent and those from countries other than the US advanced 0.5 percent. Imports in Canada averaged 21065.60 CAD Million from 1971 until 2019, reaching an all time high of 52400.10 CAD Million in May of 2019 and a record low of 1112 CAD Million in January of 1971.
Imports in Canada is expected to be 51000.00 CAD Million by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Imports in Canada to stand at 51600.00 in 12 months time. In the long-term, the Canada Imports is projected to trend around 49800.00 CAD Million in 2020, according to our econometric models.