Industries with Biggest Decline in Exports in Canada in 2025

• 1. Organic Chemical Manufacturing in Canada

  Decline in Exports for 2025: -29.2%

  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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• 2. Iron & Steel Manufacturing in Canada

  Decline in Exports for 2025: -27.5%

  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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• 3. Ship Building in Canada

  Decline in Exports for 2025: -25.4%

  Shipbuilders design, build and repair ships and other vessels for military and commercial clients. Long project lead times, primarily for defense contracts, have led to a consistent flow of revenue, keeping shipyard revenue stable despite supply chain disruptions, climbing interest rates, geopolitical uncertainty and other exogenous shocks. Even so, the industry struggles with foreign competition, with both low-cost producers and maritime powerhouses threatening commercial, civil or defence m...

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• 4. Oil Drilling & Gas Extraction in Canada

  Decline in Exports for 2025: -11.6%

  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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• 5. Petrochemical Manufacturing in Canada

  Decline in Exports for 2025: -9.8%

  Revenue for petrochemical manufacturers closely tracks commodity price movements because crude oil and natural gas are essential feedstocks in petrochemical production. Manufacturers buy these commodities from suppliers and are subject to the market price. Since petrochemicals are essential for various downstream markets, companies can raise their prices accordingly to keep profitability from falling despite higher costs.

  High prices and limited supply drove Canadian chemical shipments...

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• 6. Plastic & Resin Manufacturing in Canada

  Decline in Exports for 2025: -5.3%

  Canadian plastic and resin manufacturers operate within an environment shaped by the country’s industrial output, construction activity and consumer goods manufacturing. Automotive assembly and packaging hold particular significance for underlying demand. The need for lightweight, durable materials has led to increased adoption across various sectors, ranging from electronics to infrastructure. Compliance requirements under the Canadian Environmental Protection Act, including regulations on s...

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• 7. Breweries in Canada

  Decline in Exports for 2025: -4.6%

  Canadian breweries have evolved in response to changing trends, yet its expansion has stagnated. While the industry has benefited from the popularity of craft beer from local microbreweries, consumers have shifted away from the traditional light and premium beer brands that currently represent most of industry brewers' sales. Navigating the challenging conditions of the COVID-19 pandemic, breweries saw sharp contractions across multiple years. Over the past five years, revenue has been fallin...

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• 8. Mining, Oil & Gas Machinery Manufacturing in Canada

  Decline in Exports for 2025: -4.4%

  Despite Canada being one of the world's largest producers of crude oil, natural gas and a range of other metals and mineral commodities, price fluctuations and volatility throughout the period ultimately pushed revenue down for mining, oil & gas machinery manufacturers. Revenue is closely tied to commodity prices and dictates the level of investment and activity by extraction companies. These prices have fluctuated greatly over time, especially with many goods seeing a sharp dip in price ...

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• 9. Ferrous Metal Foundry Products in Canada

  Decline in Exports for 2025: -3.6%

  The industry is facing significant challenges, marked by a decline during the current period at a CAGR of 4.1%, including an expected revenue drop of 19.4% in 2024 alone, bringing revenue down to $1.4 billion. This downturn is primarily driven by decreased domestic demand owing to a shift towards lighter, non-ferrous metals like aluminum, exacerbated by lingering pandemic disruptions and elevated interest rates. Additionally, the industry is grappling with sharply increased input prices and e...

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• 10. Iron Ore Mining in Canada

  Decline in Exports for 2025: -3.4%

  Iron ore miners have experienced massive shifts in revenue for most of the period since iron is used to produce steel, linking performance directly to the strength of the global economy and construction markets. Exports are a significant market for miners, and heightened demand from China, alongside expansions from other major trading partners, has been beneficial, as iron ore prices have spiked amid supply shortages. Nonetheless, prices came tumbling down starting in 2022 through 2025. This ...

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