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Canada-Italy Trade

Canada and Italy have a strong commercial relationship. The greatest potential lies in promoting two-way investment, as well as innovation and technology-based partnerships.

Important business and Science and Technology delegations in both directions between Canada and Italy have given new impetus for the advancement of innovative commercial opportunities and partnerships.

Bilateral trade

Between January and November 2018, total Canadian exports to Italy increased by +37.4% totaling C$2.895 billion compared to C$2.107 billion during the same time period in 2017.  Meanwhile, Italian supplies hit C$8.195 billion from January to November 2018, a 9.4%% hike from the same time period in 2017.

Italy ranks 8th largest in the world and 3rd largest in Europe, as a source of total imports to Canada. Source: Statistics Canada

PRODUCT TRADE and INVESTMENT (CDN$ million):

Statistics Canada

Canadian Exports: $ 2,895
Canadian Imports: $ 8,195
TOTAL TRADE: $ 11,090

From January to November 2018, Italy was Canada’s 13th largest export destination in the world and the 6th major EU destination.

Italian Direct Investment in Canada
$ 1,54 million (+7.25%)
Canadian Direct Investment to Italy
$ 795 million (+34.75%)

Canadian Top 10 Total Merchandise Exports (CDN$ million)

Source: Statistics Canada

Jan-Nov 2017  Jan-Nov 2018
Total Merchandise Exports: 2,106.55 2,849.78 (+37.4%)
Pharmaceutical products 422.40 902.29 (+113.6%)
Mineral fuels and oils 423.77 540.19 (+27.5%)
Boilers, machinery and mechanical appliances 214.72 217.88 (+1.5%)
Cereals 200.72 139.42 (-30.5%)
Grains, seeds, fruit 109.72 122 (+11.2%)
Aircrafts, spacecrafts 95.80 102.62 (+7.1%)
Vehicles, other than railway 21.37 98.60 (+361.2%)
Optical and medical instruments 81.70 96.68 (+18.3%)
Precious metals, stones and pearls 50.11 83.02 (+65.7%)
Electrical machinery and equipment 64.28 67.32 (4.7%)

Canadian Top 10 Total Merchandise Imports (CDN$ million)

Source: Statistics Canada

Jan-Nov 2017 Jan-Nov 2018
Total Merchandise Imports: 7,492.77 8,194.99 (+9.4%)
Boilers, machinery and mechanical appliances 1,796.11 1,946.42 (+8.4%)
Beverages, spirits and vinegar 593.07 624.98 (+5.4%)
Vehicles, other than railway 581.45 540.47 (-7%)
Pharmaceutical products 444.83 482.83 (+8.5%)
Electrical machinery and equipment 309.30 313.57 (+1.4%)
Furniture 279.05 289.01 (+3.6%)
Footwear 226.24 272.91 (+20.6%)
Perfumes and cosmetics 208.39 252.29 (+21.1%)
Optical and medical instruments 276.38 234.96 (-15%)
Leather articles 187.52 223.03 (+18.9%)

INNOVATION

Both the Italian and Canadian governments have recognized the importance of Science, Technology and Innovation partnering as a lever to prosperity. As a result, in January 2015, Canada and Italy signed the Canada-Italy Joint Action Plan in Science, Technology and Innovation.

The Action Plan is intended to encourage collaboration and R&D linkages between major Italian and Canadian research institutes and universities, innovative companies, and public and private sector laboratories in priority sectors, which will be regularly reviewed and assessed:

  • Aerospace
  • The Arctic
  • Agriculture and Agri-Food
  • Life Sciences
  • Marine Sciences

Source:
http://www.canadainternational.gc.ca/italy-italie/bilateral_relations_bilaterales/index.aspx?lang=eng
Industry Canada – Trade Data Online
Statistics Canada – Canadian International Merchandise Trade Database
http://tradecommissioner.gc.ca/italy-italie/market-facts-faits-sur-le-marche/61478.aspx?lang=eng

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