Canada Imports Slide on Sharp Drop in Metals and Pharmaceuticals

Canada’s imports edged down 0.1% month-over-month to C$66.14 billion in November, paring a 3.4% rise in October. Declines were recorded in seven of the eleven product categories. Imports of motor vehicles and parts fell 4.5%, led by lower imports of passenger cars and light trucks (-4.8%). Imports of energy products fell 10.6%, with crude oil and crude bitumen plunging 30.2%. Offsetting some of the weakness, imports of consumer goods rose 6.2%, supported by a 14.8% increase in pharmaceutical and medicinal products and a 12.8% gain in clothing, footwear and accessories.

Canada’s imports rose 3.4% month-over-month to C$66.2 billion in October, rebounding from a 4.3% decline in September. Gains were recorded in eight of the eleven product categories. Imports of electronic and electrical equipment and parts climbed 10.2%, with increases across all subgroups. After plunging 27.9% in September, imports of metal and non-metallic mineral products rebounded 9.5%, largely driven by a 55.3% surge in unwrought gold, silver, and platinum group metals and their alloys. Imports of industrial machinery, equipment, and parts increased 5.7%, supported by higher purchases of general-purpose machinery (5.6%), logging, construction, mining, and oil and gas field equipment (14.7%), and parts of industrial machinery (7.1%). Partly offsetting the overall rise, imports of basic and industrial chemicals, plastics, and rubber products fell 7.5%, reaching their lowest level since July 2023.

Canada’s imports fell 4.1% month-on-month to C$64.1 billion in September 2025, accelerating from a 1% decline in August, with decreases in seven of eleven product sections. Imports of metal and non-metallic mineral products dropped 27.8%, driven by a 72.5% plunge in unwrought gold, silver, and platinum group metals after unusually high-value gold shipments from South Africa and Switzerland in August failed to repeat. Consumer goods imports fell 6%, with broad declines across subcategories. After two monthly gains, pharmaceutical and medicinal products slumped 13.8%, the largest negative contribution, mainly due to lower imports from Europe.