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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

In 2016, total Canadian exports to Italy increased by +2.6% totaling C$2.3 billion compared to C$2.27 billion the previous year. 2016 was a record year with Italian supplies hitting C$7.5 billion in 2016, a 2% hike over 2015. Italy ranks 8th largest in the world and 3rd largest in Europe, as a source of total imports to Canada. Source: TCS Offices in Italy.

PRODUCT TRADE and INVESTMENT (2015):

Statistics Canada

Canadian Exports: $ 2,276,903,508
Canadian Imports: $ 7,371,786,069
TOTAL TRADE: $ 9,648,689,577

In 2016, Italy was Canada’s 12th largest export destination in the world and the 6th major EU destination.

Italian Direct Investment in Canada
$ 1,300 (million)
Canadian Direct Investment to Italy
$ 1,400 (million)

Canadian Top 10 Total Merchandise Exports (CDN$ million)

Source: Global Trade Atlas

2015 2016
Total Merchandise Exports: 2,278.80 2,340.10
Pharmaceutical products 488.67 486.59
Cereals 538.90 395.83
Mineral fuels and oils 73.722 237.61
Machinery 235.44 227.13
Grains, seeds, fruit 98.121 108.83
Precious metals, stones and pearls 104.18 108.08
Aircrafts, spacecrafts 40.053 97.657
Optical and medical instruments 94.374 86.934
Electrical machinery and equipment 86.352 76.69
Pulp of wood 80.197 65.802

Canadian Top 10 Total Merchandise Imports (CDN$ million)

Source: Global Trade Atlas

2015 2016
Total Merchandise Imports: 7,370.10 7,538.90
Boilers, machinery and mechanical appliances 1,832.70 1,811.30
Beverages, spirits and vinegar 574.12 598.01
Vehicles, other than railway 575.40 536.22
Pharmaceutical products 489.64 467.35
Optical and medical instruments 285.26 306.61
Electrical machinery and equipment 314.09 298.39
Furniture 252.55 285.34
Footwear 197.79 242.64
Perfumes and cosmetics 152.72 213.99
Organic chemicals 159.22 210.40

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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