Canada Imports Edge Lower in May

Canada's goods imports edged down 0.2% month-over-month to CAD 72.86 billion in May 2026 after reaching a record high in April. Imports of metal and non-metallic mineral products fell 18.2%, led by a 33.0% decline in unwrought gold, silver, and platinum group metals and their alloys. Imports of basic and semi-finished iron and steel products dropped 22.7%, while waste and scrap metal (-20.0%) and non-ferrous metals and alloys (-21.2%) also recorded sharp declines. The decrease was partly offset by a 3.5% increase in consumer goods imports, driven by a 10.0% rise in miscellaneous goods and supplies, mainly reflecting higher imports of batteries and battery chargers from China.

Canada’s imports edged up 0.3% month-on-month to a record C$72.4 billion in April 2026, with gains recorded in 6 of the 11 product categories. Imports of basic and industrial chemical, plastic, and rubber products rose 16.9%, providing the largest contribution to the increase. Purchases of lubricants and other petroleum refinery products jumped 49.0%, mainly due to higher imports of crude oil diluents from the US. Imports of electronic and electrical equipment and parts increased 4.2%, while imports of computers and computer peripherals rose 13.2% to a record high, driven by higher shipments of processing units from Ireland for use in data centres. Partially offsetting these gains was a 12.9% decline in imports of metal and non-metallic mineral products, largely reflecting a 27.5% drop in purchases of unwrought gold, silver, platinum group metals, and their alloys.

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%.