With a population of 37.6 million, Canada is the 10th largest import market in the world. Canada depends on foreign trade which is reflected in the many bilateral and multilateral trade agreements Canada has negotiated and continues to negotiate with countries around the world.
The top consumer markets are in three provinces: Ontario (Toronto), Quebec (Montreal) and British Columbia (Vancouver). Majority of importers are in the Toronto and Montreal areas. More than 85% of all imports are cleared in the provinces of Ontario and Quebec and then are distributed throughout Canada.
Growth in imports has been increasing steadily before the COVID -19 pandemic hit the country, like most other countries in the world. Before the pandemic, Canada’s GDP average yearly rate was approximately 2% and other economic indicators suggested a stable economy. It remains unclear what medium and long-term impact the pandemic will have on imports as well as the general economic conditions in the country.