Imports to Canada rose 1.6 percent month-over-month to CAD 50.9 billion in December 2018 from a downwardly revised CAD 50.1 billion in November. It was the first monthly gain since May, boosted by purchases of energy products (19.7 percent), namely refined petroleum energy products (33.2 percent) such as diesel and biodiesel fuels. This coincided with recent maintenance and turnaround work at some Canadian refineries. Also, imports went up for motor vehicles and parts (4 percent), led by purchases of passenger cars and light trucks (8.7 percent); and metal ores and non-metallic minerals (32.8 percent). Conversely, imports of aircraft and other transportation equipment and parts fell 24.9 percent, namely aircraft (-75.9 percent), mostly on lower imports of airliners from the US. In 2018, imports grew 5.7 percent from a year earlier to CAD 607.1 billion, led by consumer goods and industrial machinery, equipment and parts. Imports in Canada averaged 20695.29 CAD Million from 1971 until 2018, reaching an all time high of 51817.90 CAD Million in March of 2018 and a record low of 1112 CAD Million in January of 1971.
Imports in Canada is expected to be 52000.00 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 49000.00 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.