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Enhanced global steel trade monitoring
Steel Imports Report: Canada
Background
Canada was the world’s nineteenth-largest steel importer in 2019. In 2019, Canada imported 6.8 million metric tons of steel, a 24 percent decrease from 8.9 million metric tons in 2018. Canada’s imports represented about 2 percent of all steel imported globally in 2019. The volume of Canada’s 2019 steel imports was almost one-fourth that of the United States, the world’s largest steel importer. In value terms, steel represented about 2.0 percent of the total goods imported into Canada in 2018.
Canada imports steel from over 100 countries and territories. The ten countries abd territories labeled in the map below represent Canada’s top sources of steel in 2019, each sending more than 150 thousand metric tons and together accounting for 5.4 million metric tons of steel or 78 percent of Canada’s total steel imports.
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 caused the deficit to briefly become a surplus. Since their recent low point in 2009, imports grew 12 percent by 2019, while exports grew 14 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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