Biggest Importing Industries in Canada in 2025

• 1. Automobile & Light-Duty Motor Vehicle Manufacturing in Canada

  Imports for 2025: $69.8B

  Canadian automakers have faced severe volatility through the current period, especially given prominent offshoring trends over the past two decades. Higher labor costs, smaller markets and lower economies of scale have encouraged automakers in Canada to prioritize the United States and Mexico, leading to greater import exposure. Most notably, passenger vehicle production volumes have plummeted in Canada, with a majority of automakers instead prioritizing SUVs and light trucks. Regardless, tot...

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• 2. Oil Drilling & Gas Extraction in Canada

  Imports for 2025: $23.7B

  Oil drilling and gas extraction in Canada have grown tremendously, resulting from rising prices and additional investment in production. Oil and gas companies suffered significantly in 2020 amid the pandemic as prices drastically fell amid lockdowns. As the economy reopened, the need for oil and gas became apparent and prices skyrocketed, bolstering revenue. The Russia-Ukraine conflict further exacerbated this, causing exports to surge as foreign countries looked elsewhere to get oil and gas....

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• 3. Aircraft, Engine & Parts Manufacturing in Canada

  Imports for 2025: $21.4B

  Canadian airplane, engine and parts manufacturers develop and produce planes, rotorcraft, engines and related components for civil and defense markets. In particular, the Canadian industry is a leader in manufacturing business aircraft, commercial planes with less than 150 seats, civil helicopters, regional and small engines and various aerospace components. Bombardier leads this market, dominating business jet and charter jet markets. The industry displayed significant volatility through the...

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• 4. Petroleum Refining in Canada

  Imports for 2025: $20.1B

  Revenue for the Canadian Petroleum Refining industry has been volatile. Crude oil is the primary input into industry products, and therefore, its price is the primary driver of industry revenue. However, the pandemic's collapse in oil prices in 2020 drove refinancing revenue down. Subsequently, high demand and ongoing supply chain disruptions led crude oil prices to spike sharply, translating into an industry revenue boom in 2021 and 2022. However, tempering oil prices in 2024 and potentially...

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• 5. Auto Parts Manufacturing in Canada

  Imports for 2025: $16.0B

  Auto parts manufacturers build miscellaneous parts and equipment, including exhaust systems, airbags, heating, ventilation, air conditioning systems (HVAC) and filtration devices. Manufacturers have faced notable volatility throughout the current period, with the pandemic, climbing interest rates and supply chain disruptions creating uncertainty among buyers and suppliers. Specifically, pent-up demand for driving has driven robust car sales and improved production volumes, signaling greater h...

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• 6. Organic Chemical Manufacturing in Canada

  Imports for 2025: $14.6B

  Canadian organic chemical manufacturers have operated within a context defined by the expanding demand for downstream applications in the automotive, agrochemical and pharmaceutical sectors, as well as increased domestic infrastructure investment. Tight integration with Canada’s manufacturing supply chains has allocated growth potential to producers of organic intermediates such as methanol and acetic acid, both of which underpin key plastics and resins. The industry’s ...

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• 7. Generic Pharmaceutical Manufacturing in Canada

  Imports for 2025: $13.2B

  Generic pharmaceuticals account for nearly three-fourths of all prescription drugs dispensed yearly in Canada. Generic pharmaceutical manufacturers are critical to this supply and have an invaluable role in public health and saving patients and insurers millions. Rapid population growth, rising incomes and a growing population of over 65 in Canada in recent years have also contributed to jumps in prescription spending. Despite this importance, the industry's revenue growth hinges on federal a...

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• 8. Brand-Name Pharmaceutical Manufacturing in Canada

  Imports for 2025: $11.8B

  While smaller in scale than their US counterparts, brand-name pharmaceutical manufacturers in Canada play a pivotal role in the healthcare system. Canadians rely heavily on prescription medications, ranking among the highest globally in per capita drug spending. This positions manufacturers to benefit from strong consumer demand and public health initiatives. Recent drivers of increased spending on brand-name drugs include an aging population, broader health coverage through provincial plans,...

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• 9. Iron & Steel Manufacturing in Canada

  Imports for 2025: $11.8B

  The Canadian steel industry is currently facing a challenging period marked by a projected 12.4% contraction in 2025, with total revenues falling to $15.2 billion. Although the industry posted a 2.5% CAGR over the current period, this figure is largely due to strong gains in 2021, followed by subsequent declines. This downturn is primarily driven by the imposition of a 25% US tariff on Canadian steel imports, which has sharply reduced export volumes and reduced the profit margin, leading to l...

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• 10. Medical Device Manufacturing in Canada

  Imports for 2025: $11.6B

  Canadian medical device manufacturers have endured volatility. Given the essential nature of medical devices, higher total health expenditure and the Canadian dollar's depreciation were boons for manufacturers. While steady demand from the healthcare sector and an aging population often insulates manufacturers from large economic fluctuations, the pandemic created notable disruptions; healthcare providers shifted resources to battle the pandemic, contributing to an overall drop in revenue. Su...

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