Clearit.ca's Blog on Customs Brokerage and News Updates
If you’re an American, that cell phone you’re using was probably manufactured in another country—and this is despite the fact that cell phones made in America rank 7th in the United States’ exports. It’s a similar situation for gas, vehicles, computers, and more. In fact, 6 out of 10 of the top imports into America are part of their top 10 exports. Americans, it seems, crave goods exported from outside the country.
If you’re Canadian, this sounds like good news for exporting, especially for anyone exporting personal and commercial vehicles. Despite Americans manufacturing and selling domestically, there is still a healthy market for Canadian goods. Exporters should be happy—especially since Canada is the 12th largest export economy in the world.
However, America is not unique in their overlapping exports and imports. Canadians import goods they manufacture as well: mineral fuels, computers, precious metals, plastics, and electrical machinery all rank on both Canada’s top 10 exports and imports. Canada’s market for imports has room for Non Resident Importers alongside locally produced goods just as America’s market does. Canada’s import market is, in fact, even larger than its exports; in 2016, Canada overall exported $387 billion worth of goods while importing $399 billion.
Imports of oil and vehicles into Canada have risen, even with oil as Canada’s top export. The market for imported gems and precious metals, though, is falling. Gems and precious metals imported into Canada might soon find their spot is no longer in the top 10, but with plastics, plastic articles, steel, and iron imports also on the rise, Canada’s import market is still ripe for business by Non Resident Importers.
Non Resident Importers of Canada’s top 10 imports and more have access to a population of 33 million ready to receive American and international goods. For more information on Non Resident Importers, click here.