Imports to Canada jumped 21.8 percent from a month earlier to CAD 42.9 billion, following an upwardly revised 4.6 percent slump in May and above market expectations of CAD 41.3 percent gain. Purchases of motor vehicles & parts led the increase (215.8 percent), especially passenger cars and light trucks and also motor vehicle engines & parts, mostly from the US, considering that June was the first full month of production at motor vehicle assembly plants in North America since February. Also, a sharp rise was recorded in imports of aircraft & other transportation equipment and parts (96.2 percent). Imports from the US were up 28 percent to CAD 26.4 billion partly on imports of motor vehicles and parts. Meanwhile, purchases from non-US countries rose 13 percent to CAD 16.5 billion, with Mexico (motor vehicles and parts), Belgium (parts for other transportation equipment) and Germany (passenger cars and light trucks) contributing the most to the increase.
Imports in Canada averaged 21546.94 CAD Million from 1971 until 2020, reaching an all time high of 52875.70 CAD Million in March of 2019 and a record low of 1112 CAD Million in January of 1971. This page provides the latest reported value for - Canada Imports - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news. Canada Imports - data, historical chart, forecasts and calendar of releases - was last updated on August of 2020. source: Statistics Canada
Imports in Canada is expected to be 43500.00 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 50100.00 in 12 months time. In the long-term, the Canada Imports is projected to trend around 51300.00 CAD Million in 2021 and 51000.00 CAD Million in 2022, according to our econometric models.