Canada Imports Surge to Record C$72.1 Billion in February

Canada’s imports fell 1.6% month-on-month to C$72.8 billion in March 2026, with declines in 8 of 11 product categories. Consumer goods imports dropped 3.9%, led by a 9.3% fall in pharmaceuticals after a 14.4% surge in February. Decreases were also seen in clothing, shoes and accessories (-4.2%), other food products (-4.1%), miscellaneous goods (-2.7%), and meat products (-9.3%). Imports of aircraft and other transportation equipment plunged 12.8% after a 13.0% jump in February, driven by a 64.4% drop in aircraft purchases, as February’s elevated imports from the US were not repeated. Despite the monthly decline, total imports rose 4.6% in Q1 2026, with over two-thirds of the increase driven by metal and non-metallic mineral products, which surged 38.1%.

Canada's imports surged 8.4% month-on-month to a record C$72.1 billion in February 2026, with all but one product section increasing. Metal and non-metallic mineral products led gains at 45.6%, with unwrought gold, silver, and platinum group metals more than doubling on higher US purchases. Motor vehicles and parts rose 5.9%, driven by motor vehicle engines and parts up 7.5%, coinciding with a rebound in Canadian motor vehicle production. Energy products surged 20.1%, with crude oil and bitumen up 35.3% on higher US shipments, and refined petroleum products up 31.0%. Canada's merchandise trade deficit widened to C$5.7 billion in February from C$4.2 billion in January, the largest deficit since August 2025.

Canada’s imports decreased 1.1% month-on-month to C$66.1 billion in January 2026, with declines recorded in 7 of 11 product categories. Imports of motor vehicles and parts decreased 4.5%, led by an 8.3% decline in motor vehicle engines and parts, coinciding with lower motor vehicle production in Canada due to atypical production stoppages. Purchases of consumer goods rose 0.4%, while imports of industrial machinery, equipment and parts climbed 3.4%, supported by a 53.1% surge in other industry-specific manufacturing machinery driven by liquefied natural gas infrastructure construction. These changes were partly offset by declines in electronic and electrical equipment and parts (-3.6%), primarily due to lower smartphone imports.