Similarly, the further to the right the industry bubble is on the chart, the more vulnerable it is to international supply shocks. Think of supply chains as streams: any closures or shocks to suppliers upstream will impact the manufacturers making products and the consumers using them downstream. These events combined with the repercussions of COVID-19 led to a decrease of 6.4% in March for exports by rail. World Economic Outlook, April 2019. IMF Publications (2019). Overview In 2020, Ireland was the number 27 economy in the world in terms of GDP (current US$), the number 26 in total exports, the number 37 in total imports, the number 5 economy in terms of GDP per capita (current US$) and the number 16 most complex economy according to the Economic Complexity Index (ECI).. Exports The top exports of Ireland are Vaccines, blood, India Imports from China was US$87.54 Billion during 2021, according to the United Nations COMTRADE database on international trade. The Council of the European Union adopted the following additional measures. Due to the long travel times between shipping a product and its arrival, the maritime (by water) mode could be expected to have been the least affected of the 5 transport categories by the onset of the COVID-19 pandemic. The 25 most vulnerable industries and the 25 least vulnerable industries are discussed in turn. India. Both expanded more slowly than their annual average growth over the decade of 3.0% and 2.6%, respectively. Taiwan: -US$156.4 billion (country-specific trade deficit in 2021) Australia: -$92.6 billion; South Korea: -$58.7 billion For more details, seeThe Canada-United States-Mexico Agreement: Economic Impact Assessment. The export price for metal ores and non-metallic minerals also declined over the last decade. The finance and insurance sector either ranked first or second in terms of largest flows in every year of the decade. In May 2019, the unemployment rate in Canada reached its lowest level since 1976, which created challenges for those seeking qualified labour in many parts of the economy. On the import side, the energy sector registered a smaller but nevertheless significant contraction. The declining terms of goods trade over the past decade implies that Canada has had to sell more exports to acquire the same quantity of imports. Learn about Nestls brands and what were doing to make our products tastier and healthier. Growth in services imports has also been less volatile over the decade than growth in goods imports. The remainder of this chapter examines the relative vulnerability of various Canadian industries to international supply chain disruptions to determine those most likely to weather international shocks. In 2019, the volume of goods exports expanded 1.3%, and the volume of imports expanded 1.3%. )consumption: 3,616,169,000 cubic meters (2019 est. Switzerland, a country that espouses neutrality, is a prosperous and modern market economy with low unemployment, a highly skilled labor force, and a per capita GDP among the highest in the world. Canadian exports to Japan that were affected by the CPTPP showed strong growth, especially for products with large tariff reductions. Using data for 218 Canadian industries, the Office of the Chief Economist (OCE) first ranked each industry in question by constructing the international supply vulnerability index, an index that identifies the sensitivity of each industry to upstream supply shocks. )note: includes federal, cantonal, and municipal budgets, 41.8% of GDP (2017 est. ), total: 17 yearsmale: 17 yearsfemale: 16 years (2019), total: 8.6%male: 9.2%female: 8% (2020 est. At the same time, international demand for many goods and services produced in Canada fell as businesses closed, incomes were disrupted, and people around the world stayed at home. This chapter uses non-seasonally adjusted trade data on a customs basis under the Harmonized Commodity Description and Coding System (HS). Box 3.1: Do lawyers export? ), household consumption: 53.7% (2017 est. Exports of oil seeds were up 60% as canola seeds (71%) and soybeans (58%) both posted dramatic increases, and exports of vegetables rose 49%supported by pulses (62%) and potatoes (77%). That dollar amount reflects a 19.6% increase since 2017 and a 10.9% gain from 2020 to 2021. ), 38.739 million metric tonnes of CO2 (2019 est. Exports to China from Canada, Singapore, and United States suffered large year-over-year declines in February, and yet while Singapores exports to China increased year-over-year in March, exports to China from Canada and United States continued their respective year-over-year declines. While trade with the United States was on average mildly affected with declines of about 6% for both exports and imports, trade with some individual states was strongly affected due to the highly integrated supply chains in some industries. This article is a list of the countries of the world by gross domestic product (GDP) at purchasing power parity (PPP) per capita, i.e., the PPP value of all final goods and services produced within an economy in a given year, divided by the average (or mid-year) population for the same year. The new Agreement preserves key elements of NAFTA, modernizes disciplines to address modern trade challenges, reduces red tape at the border, and provides enhanced predictability and stability for workers and businesses across the integrated North American market. Exports to New York, Texas and Washington also declined significantly in March 2020. Free trade agreements, such as the Canada-European Union Comprehensive Economic and Trade Agreement (CETA), Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP), and CanadaUnited StatesMexico Agreement (CUSMA), also known as the new NAFTA, expand and diversify market opportunities. The United Kingdom ranked second for CDIA in 2019 while Switzerland was the second-largest source of FDI. )0.9627 (2014 est. Additional listings: Additional individuals and entities have been sanctioned.This targets those involved in Russia's occupation, illegal annexation, and sham referenda in the occupied territories/oblasts of Donetsk, Luhansk, Kherson, and Zaporizhzhia regions. Rice Imports into Saudi Arabia In addition, this industry potentially imports 589 products from the limited number of suppliers, another component contributing to its high supply vulnerability score. (French)L'Almanacco dei fatti del mondo, l'indispensabile fonte per le informazioni di base. And they can find unique products and services not readily available at home. GDP (PPP) means gross domestic product based on purchasing power parity.This article includes a list of countries by their forecast estimated GDP (PPP). Switzerland, a country that espouses neutrality, is a prosperous and modern market economy with low unemployment, a highly skilled labor force, and a per capita GDP among the highest in the world. As Figure 1.5 shows, both CDIA and FDI flows can be quite volatile, since 1 or 2 large transactions can greatly influence the results for a given year. The COVID-19 health crisis has prompted Statistics Canada to postpone the publication of the 2019 stock of direct investment to and from Canada. This is in addition to the hundreds of tons of food supplies and significant financial assistance that we have already contributed to support the people in Ukraine and refugees in neighboring countries. International Mail Manual; Summary of Changes; Transmittal Letter; 1 International Mail Services U.S. Supreme Court's Barrett again declines to block Biden student debt relief (Reuters) -U.S. Supreme Court Justice Amy Coney Barrett on Friday again declined to block President Joe Biden's plan to cancel billions of dollars in student debt, this time in a challenge brought by two Indiana borrowers, even as a lower court considers whether to lift a freeze it imposed on the program Although the U.S. share of flows in both directions fluctuated over the last decade, the United States remains Canadas main investment partner. As we work toward our economic recovery, we will continue to work with our international partners and take a leadership role to keep supply chains open, strengthen and diversify trade relationships, and support rules-based trade for the 21st century. The automotive industry in Japan is one of the most prominent and largest industries in the world.Japan has been in the top three of the countries with most cars manufactured since the 1960s, surpassing Germany. United Kingdom. This chapter looks at why Canadian industries more engaged in global value chains are often more vulnerable to international trade shocks than other industries. By April 2019, however, the data started reflecting this slowdown, and the IMF revised its estimate for 2019 growth down to 3.3%0.4 percentage point lower than its October 2018 estimate. It can also be thought of as the number of units of exports required to purchase a single unit of imports. Similarly, that export country doesnt necessarily post a negative trade balance with each individual partner with which it exchanges exports and imports. Plunging crude oil prices were behind the 9.5% decline in crude oil exports in March 2020 (Figure 2.1). Canadian imports of energy products, which declined in 2019, were the only goods imports to decline over the last decade. While we do not expect to make a profit in the country this year, any profit will be donated to humanitarian relief organizations. The services trade deficit with the European Union has also increased over the last decade, as growth in services imports (5.0%) has outpaced growth in services exports (4.6%). Its high score illustrates the extent to which automobile manufacturing depends on international supply chains. And these efforts will continue. Comparing trade data for March 2020 with the results for the first quarter overall allows us to distinguish the global effects of COVID-19 from other events that might have affected trade during the first quarter. The GPI ranks 163 independent states and territories (collectively accounting for 99.7 per cent of the world's population) according to their levels of peacefulness. Data analysis by trade economists from the Office of the Chief Economist (OCE) came to the service of deal brokering by trade commissioners from the Canadian Trade Commissioner Service (TCS). It was below the average for Germany, the United Kingdom, and Italy. The modernized NAFTA entered into force on July 1, 2020. The modernized NAFTA entered into force on July 1, 2020. Trading Economics welcomes candidates from around the world. From a labour perspective, CUSMA secures nearly 38,000 jobs that would otherwise be lost while preserving real wage gains for Canadian workers, particularly machinery operators, manual labourers and sales workers. The Canada-United States-Mexico Agreement: Economic Impact Assessment, Canadian International Merchandise Trade Database, https://www.bankofcanada.ca/2020/01/mpr-2020-01-22, https://www.international.gc.ca/gac-amc/assets/pdfs/publications/State-of-Trade-2019_eng.pdf, https://www.international.gc.ca/trade-commerce/economist-economiste/analysis-analyse/merchandise_trade-commerce_marchandises.aspx?lang=eng, https://www.international.gc.ca/trade-commerce/assets/pdfs/economist-economiste/analysis-analyse/products_limited_international_supply-Canada-produits_nombre_limite_internationaux-eng.pdf, https://www.imf.org/en/Publications/WEO/Issues/2018/09/24/world-economic-outlook-october-2018, https://www.imf.org/en/Publications/WEO/Issues/2019/03/28/world-economic-outlook-april-2019, https://www.imf.org/en/Publications/WEO/Issues/2019/10/01/world-economic-outlook-october-2019, https://www.imf.org/en/Publications/WEO/Issues/2020/04/14/weo-april-2020, https://unctad.org/en/PublicationsLibrary/diaeiainf2020d1_en.pdf, https://www.wto.org/english/news_e/pres20_e/methodpr855_e.pdf, https://www.wto.org/english/news_e/pres20_e/pr855_e.htm, https://www.international.gc.ca/trade-commerce/economist-economiste/analysis-analyse/countries-invest-dev-pays.aspx?lang=eng, Canadian Goods Exports Volume Index (2010 = 100), Canadian Goods Imports Volume Index (2010 = 100), Canadian Goods Exports Price Index (2010 = 100), Canadian Goods Imports Price Index (2010 = 100), Aircraft, and other transportation equipment and parts, Basic and industrial chemical, plastic and rubber products, Electronic and electrical equipment and parts, Farm, fishing and intermediate food products, Forestry products and building and packaging materials, Industrial machinery, equipment and parts, Metals ores and non-metallic mineral products, Flows of Canadian Direct Investment Abroad ($ Millions), Flows of Foreign Direct Investment into Canada ($ Millions), Automobile and light-duty motor vehicle manufacturing, Motor vehicle gasoline engine and engine parts, Semiconductor and other electronic component, Motor vehicle transmission and power train parts, Resin, synthetic rubber, and artificial and synthetic fibres, Sugar and confectionery product manufacturing, Veneer, plywood and engineered wood product, Oil and gas extraction (except oil sands), Motor vehicle electrical and electronic equipment, Other general-purpose machinery manufacturing, Motor vehicle body and trailer manufacturing, Alumina and aluminum production and processing, Electric lighting equipment manufacturing, Resin, synthetic rubber, and artificial and synthetic fibres and filaments manufacturing, Motor vehicle gasoline engine and engine parts manufacturing, Motor vehicle steering and suspension components (except spring) manufacturing, Grant-making, civic, and professional and, Offices of real estate agents and brokers and. Microsoft is quietly building a mobile Xbox store that will rely on Activision and King games. ), 10.36 births/1,000 population (2022 est. The 25 Canadian industries at the bottom end of the combined demand and supply index are more domestically focused with little or no exposure to international markets for either demand or supply (Table 3.2). This is in addition to the hundreds of tons of food supplies and significant financial assistance that we have already contributed to support the people in Ukraine and refugees in neighboring countries. )from coal and metallurgical coke: 319,000 metric tonnes of CO2 (2019 est. By contrast, Canadian exports to China, Canadas third most important trading partner, had a much different pattern in 2019. The basic products that are exported from Switzerland are gold, pharmaceutical goods and watches.The first place in Switzerlands exports is occupied by gold with almost 20% and the second place is occupied by pharmaceuticals that represent almost 11.5% of the countrys total exports.With a share of 5% of all the Swiss exports, watches represent the third most traded Exports are equivalent to 86% of the industrys output, and its exports are highly concentrated geographically, with 96% of the industrys exports destined to the United States. The mode of transport of imports capture the last mode before the goods clear customs. Exports of Canadian goods to European countries such as Germany, France and Italy recorded significant growth in Q1 2020 and in March 2020 (Table 2.2). ), number of registered air carriers: 6 (2020)inventory of registered aircraft operated by air carriers: 179annual passenger traffic on registered air carriers: 28,857,994 (2018)annual freight traffic on registered air carriers: 1,841,310,000 (2018) mt-km, total: 40over 3,047 m: 32,438 to 3,047 m: 21,524 to 2,437 m: 12914 to 1,523 m: 6under 914 m: 17 (2021), 1,800 km gas, 94 km oil (of which 60 are inactive), 17 km refined products (2017), total: 5,466 km (2015) (includes 19 km in neighboring countries)standard gauge: 3,836 km (2015) 1.435-m gauge (3,634 km electrified)narrow gauge: 1,630 km (2015) 1.200-m gauge (2 km electrified) (includes 19 km in neighboring countries), total: 71,557 km (2017)paved: 71,557 km (2017) (includes 1,458 of expressways), 1,292 km (2010) (there are 1,227 km of waterways on lakes and rivers for public transport and 65 km on the Rhine River between Basel-Rheinfelden and Schaffhausen-Bodensee for commercial goods transport), total: 20by type: bulk carrier 16, general cargo 1, other 3 (includes Liechtenstein) (2021), Swiss Armed Forces: Land Forces, Swiss Air Force (Schweizer Luftwaffe) (2022), 0.7% of GDP (2021 est. )$1,930,819,000,000 (2018 est. 2 Data as of January 1, 2021. Supporting businesses owned by visible minorities and other underrepresented groups is therefore a priority for the department. In 2019, for example, Typhoon Hagibis in Japan forced many Japanese firms, including Subaru, to halt production for as long as 10 days. For the latest, please read State of Trade 2022: The Benefits of Free Trade Agreements. However, this sector also provides value-added services to the exports of other sectors, and it is these indirect exports that account for another 9% of the sectors output. )arable land: 10.2% (2018 est. The top export opportunities for Switzerland according to the relatedness index, are Developed Exposed Photographic Material (0.23), Artificial Textile Machinery (0.22), Non-optical Microscopes (0.22), Halides (0.22), and Nickel Sheets (0.22). )proven reserves: 0 cubic meters (2021 est. As with its goods trade, Canadas services trade is concentrated on the U.S. market, which accounted for just over 50% of Canadas overall services trade in 2019. This setback was, however, far from being representative of Chinas trade relationship with Canada over the 2010s. Below are the 15 countries that spent the most on imported palm oil during 2021. In 2019, the value of Canadian services exports grew for all major sectors, although growth in transportation services was slightly slower (3.9%) than the others (Table 1.3). So has the CPTPP supported Canadian trade? Understanding the key characteristics of SMEs owned by visible minorities helps decision makers develop policies and programs that support the trade ambitions of these business owners and complements the past analysis on women exporters and Indigenous exporters highlighted in the 2019 edition of Canadas State of Trade. India was the lone top country to experience a decline in the value of rice supplied to Filipino importers thanks to its -8.4% reduction. Growth in imports of motor vehicles and parts declined in the past 2 years compared to their annual average growth rate in the last decade. However, in many advanced economies, this option was limited by interest rates that were already low, which left little room for conventional monetary stimulus. )crude oil estimated reserves: 0 barrels (2021 est. Energy exports and imports were hit hard by COVID-19 while energy prices plummeted: exports declined by 21% and imports by 13% in March 2020. Countries are sorted by GDP (PPP) forecast estimates from financial and statistical institutions that calculate using market or government official exchange rates.The data given on this page are based on the international Broadly speaking, SME importers are more exposed to international disruptions than SME exporters; in 2018, some 162,280 SMEs imported goods into Canadaalmost 4 times the number of SMEs that exported goods. The modernized NAFTA entered into force on July 1, 2020. International Mail Manual > Individual Country Listings, United Kingdom of Great Britain and Northern Ireland, USPS Marketing Mail Eligibility Decision Tree, 121 General Information for Mail Preparation, 123 Customs Forms and Online Shipping Labels, 137 Firearms, Knives, and Sharp Instruments, 211 Description and Physical Characteristics, 221 Description and Physical Characteristics, 231 Description and Physical Characteristics, 241 Description and Physical Characteristics, 250 First-Class Package International Service, 251 Description and Physical Characteristics, 260 Direct Sacks of Printed Matter to One Addressee (M-bags), 271 Description and Physical Characteristics, 292 International Priority Airmail (IPA) Service, 293 International Surface Air Lift (ISAL) Service, 312 Bulk Quantities Certificate of Mailing, 322 Priority Mail Express International Insurance, 323 Priority Mail International Insurance, 370 International Money Transfer Services, 441 Item Containing Nonmailable, Hazardous, or Perishable Material, 452 Registered Mail Found With Ordinary Mail, 510 Office of Foreign Assets Control (OFAC) Regulations U.S. Department of the Treasury, 512 Prohibited Destinations, Specially Designated Nationals, and Blocked Persons, 520 Foreign Trade Regulations U.S. Census Bureau, 523 Mailpieces Sent to APOs, FPOs, and DPOs, 527 Placement of ITN, AES Downtime Citation, or AES Exemption, 531 Scope and Applicability of Export Licensing Requirements, 540 Munitions (Defense Articles) and Related Technical Data, 590 Exporting Wildlife and Protected Plants, 591 Special Requirements for Wildlife and Certain Plant Exports, 593 Export Licenses and Inspection Requirements for Commercial Wildlife Exports, 594 Marking Requirements for Wildlife Exports, 595 Permit Requirements for Wildlife and Plant Exports, 596 Obtaining and Using Permits for Wildlife and Protected Plant Exports, 620 Global Direct Entry Wholesaler Program, 711 Customs Examination of Mail Believed to Contain Dutiable or Prohibited Articles, 713 Treatment of Dutiable Mail at Delivery Office, 720 Plant and Animal Quarantine Inspection, 723 Agriculture Inspection Stations and Offices, 732 Shortpaid Letters and Cards From Canada, 743 Parcels Addressed Through Banks or Other Organizations, 780 Items Mailed Abroad by or on Behalf of Senders in the United States, 932 General Exceptions to Payment Registered Mail and Priority Mail International Parcels, 933 Payments for Priority Mail International Parcels, 935 Payments for Priority Mail Express International, 941 Postage Refunds for First-Class Mail International, First-Class Package International Service, and Priority Mail International, 942 Postage Refunds for Priority Mail Express International Items. Switzerland. For the full quarter, overall Canadian goods exports to China were down 14%, mainly due to lower exports of wood pulp, wood, automotive products, cereals, and machinery. China incurred the highest trade deficits with the following countries. The legal services sector is focused mainly on the domestic market: direct exports account for only 5% of output. In the first 2 months of 2020, Canadian exports to China fell by 13% YoY, likely from depressed domestic demand in China. Many of the leading GDP-per-capita (nominal) jurisdictions are tax havens whose economic data is artificially inflated by tax-driven corporate accounting entries.. For instance, the Irish GDP data above is subject to material distortion by the tax planning activities of foreign multinationals in Ireland. The United Nations Conference on Trade and Development (UNCTAD) estimated a slight decline in world FDI flows (1%) for 2019 due to weaker global macroeconomic performance and general uncertainty for investors. 3 Sheskin and Dashefsky figures. ), total petroleum production: 300 bbl/day (2021 est. Terms of trade representsthe ratio betweena countrysexportprices and itsimportprices. Sorry, you need to enable JavaScript to visit this website. This is in addition to the hundreds of tons of food supplies and significant financial assistance that we have already contributed to support the people in Ukraine and refugees in neighboring countries. In late April 2020, the difficulty and the high cost of storing an oversupply of crude oil pushed prices down even further. In March, the decline had reached 9.3% YoY. Good food, good life that is what we stand for. )industry: 25.6% (2017 est. 1 DellaPergola figures, which include an undercount of 1.3 million U.S. Jews. The breakdown for non-U.S. countries is only available since 2012. Industries that rely on international supply chains were also hit especially hard as demonstrated by declines of exports and imports of automotive products (23% and 18%, respectively), machinery (11% and 10%, respectively), and electronics (26% and 13%, respectively). The decline for maritime imports was the largest among imports by transport mode for the first 3 months of 2020, down 8.3% YoY. This strong annual growth was the result of the growth between 2010 and 2016, which was then followed by negative growth between 2016 and 2018. The United Kingdom ranked second for CDIA in 2019 while Switzerland was the second-largest source of FDI. Of particular note were exports of products with reductions in tariffs of more than 10 percentage points, mainly frozen and fresh beef, which showed exceptionally strong growth of 162%. crude oil and lease condensate imports: 60,900 barrels/day (2018 est.) International Mail Manual; Summary of Changes; Transmittal Letter; 1 International Mail Services While we do not expect to make a profit in the country this year, any profit will be donated to humanitarian relief organizations. For the purpose of this analysis, these valued-added services are considered indirect exports. Together, trade economists and trade commissioners were able to identify sources of this life-saving equipment to help meet Canadas needs. Indonesia. )0.5% (2017 est. The United Kingdom was ranked second as a destination of CDIA every year over the last decadeFootnote 6 except for 2013. The least vulnerable group are dominated by retail as well as professional, education, and other service industries. Overall, the value of Filipino rice imports increased by an average 38.9% from all supplying countries since 2020 when rice purchases were valued at $862 million. Following the release of March 2020 goods trade data,Footnote 8 the early impacts of COVID-19 and the effect of the worldwide shutting down of factories and businesses and stay-home measures on Canadas international trade could be quantified. Toggle navigation International Mail Manual. note: data are in current year dollars$394 billion (2019 est.) *As of September 20, 2022 (including Jews in Judea and Samaria). India was the lone top country to experience a decline in the value of rice supplied to Filipino importers thanks to its -8.4% reduction. )imports: 3,577,884,000 cubic meters (2019 est. Covid-19 on trade flows is clearly a complex undertaking a 5.5 % drop in March was! Which started in 2018, contributed to weak flows to Canada increased by $ 37billion 57 Fluctuations in price downstream demand, and the United KingdomCanadas two largest EU trading partners such as,., highly educated innovators with significant women representation bodes well for Canadas commercial future abroad to Q1. 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