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Steel Exports Report: Canada
Background
Canada was the world’s eighteenth-largest steel exporter in 2019. In 2019, Canada exported 5.8 million metric tons of steel, a 12 percent decrease from 6.5 million metric tons in 2018. Canada’s exports represented about 1.5 percent of all steel exported globally in 2019, based on available data. By volume, Canada’s 2019 steel exports represented over one-tenth the volume of the world’s largest exporter, China. In value terms, steel represented 1.1 percent of the total goods Canada exported in 2019.
Canada exports steel to over 130 countries and territories. The United States and Mexico represent the top markets for Canada’s exports of steel, receiving more than 350 thousand metric tons each. All of Canada’s top ten export destination countries are labeled in the map below, accounting for 99% of Canada’s steel exports in 2019.
With the exception of three quarters, Canada has maintained a moderate trade deficit in steel products since 2005. Rising exports in the first half of 2008 and a spike in exports in Q4 2012 (resulting from a bulk shipment of semi-finished steel to Egypt) caused the deficit to briefly become a surplus. Between 2009 and 2019, annual exports have grown 14 percent, while imports have grown 12 percent. In 2019, Canada’s steel trade deficit amounted to –1.1 million metric tons, a 56 percent decrease from –2.4 million metric tons in 2018.
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