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Steel Exports Report: Canada
Background
Canada is the world’s nineteenth-largest steel exporter. In 2017, Canada exported 6.7 million metric tons of steel, a 9 percent increase from 6.1 million metric tons in 2016. Canada’s exports represented about 1.3 percent of all steel exported globally in 2016, based on available data. By volume, Canada’s 2017 steel exports represented roughly one-tenth the volume of the world’s largest exporter, China. In value terms, steel represented 1.5 percent of the total goods Canada exported in 2017.
Canada exports steel to over 125 countries and territories. The United States and Mexico represent the top markets for Canada’s exports of steel, receiving more than 400 thousand metric tons each and accounting for 97 percent of Canada’s steel exports in 2017.
With the exception of three quarters, Canada has maintained a moderate trade deficit in steel products since 2005. Rising exports in the first half of 2008 and a spike in exports in Q4 2012 (resulting from a bulk shipment of semifinished steel to Egypt) caused the deficit to briefly become a surplus. Since their recent low points in 2009, imports grew 44 percent by 2017, while exports grew 31 percent. In 2017, Canada’s steel trade deficit amounted to –2.08 million metric tons — a 32 percent increase from -1.57 million metric tons in 2016.
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