Packaged Medicaments in Canada | The Observatory of Economic Complexity

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Exports In 2022, Canada exported $9.85B in Packaged Medicaments, making it the 14th largest exporter of Packaged Medicaments in the world. At the same year, Packaged Medicaments was the 10th most exported product in Canada. The main destination of Packaged Medicaments exports from Canada are: United States ($6.11B), Netherlands ($604M), Japan ($537M), Australia ($399M), and Italy ($318M).

The fastest growing export markets for Packaged Medicaments of Canada between 2021 and 2022 were Netherlands ($442M), Australia ($338M), and United States ($326M).

Imports In 2022, Canada imported $9.6B in Packaged Medicaments, becoming the 12th largest importer of Packaged Medicaments in the world. At the same year, Packaged Medicaments was the 7th most imported product in Canada. Canada imports Packaged Medicaments primarily from: United States ($3.04B), Germany ($1.2B), Ireland ($1.06B), Switzerland ($757M), and Denmark ($631M).

The fastest growing import markets in Packaged Medicaments for Canada between 2021 and 2022 were Ireland ($697M), Germany ($367M), and Denmark ($218M).

Latest Trends

February 2024

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Overview In February 2024 Canada's Packaged Medicaments exports accounted up to C$1.13B and imports accounted up to C$1.14B, resulting in a negative trade balance of C$12.2M. Between February 2023 and February 2024 the exports of Canada's Packaged Medicaments have increased by C$193M (20.6%) from C$935M to C$1.13B, while imports increased by C$29M (2.61%) from C$1.11B to C$1.14B.

Destinations In February 2024, Packaged Medicaments were exported mostly to United States (C$897M), Japan (C$67.5M), China (C$24.5M), Netherlands (C$22.8M), and United Kingdom (C$11.9M), and were imported mostly from United States (C$306M), Denmark (C$145M), Germany (C$109M), Ireland (C$102M), and Switzerland (C$81.1M).

Growth In February 2024, the increase in Packaged Medicaments's year-by-year exports was explained primarily by an increase in exports to United States (C$73.1M or 18.6%), Japan (C$20.8M or 43.1%), and China (C$16.6M or 165%). In February 2024, the increase in Packaged Medicaments's year-by-year imports was explained primarily by an increase in imports from Sweden (C$70M or 235%), Denmark (C$54.9M or 122%), and Germany (C$47.3M or 48.3%).

Subnational Monthly Trade

Time Scale

Year

Quarter

Month

Flow

Exports

Imports

Color

Trade Value

Growth

Growth (%)

EXPORT GROWTH (February 2023 - February 2024)C$193M(20.6%)

IMPORT GROWTH (February 2023 - February 2024)C$29M(2.61%)

MAIN EXPORTER (February 2024)OntarioC$768M

MAIN DESTINATION (February 2024)United StatesC$897M

This section shows Packaged Medicaments's exports and imports data at subnational level for Canada. Click any date in the line plot, any subnational region in the geomap, or any destination or origin country to explore the exports or imports behavior of Packaged Medicaments over time.

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