Industries with the Biggest Decline in Imports in Canada in 2025

• 1. Truck & Bus Manufacturing in Canada

  Decline in Imports for 2025: -49.2%

  Truck and bus manufacturing remains a staple in the Canadian economy since transporting people and goods is paramount to a healthy economy. Even so, the pandemic slashed demand for truck and bus manufacturers since lockdown restrictions limited manufacturing capabilities, international trade and downstream demand. However, robust e-commerce demand, along with favorable construction spending programs, especially as people returned to work, and the economy's overall recovery in the latter half ...

  Learn More

• 2. Generic Pharmaceutical Manufacturing in Canada

  Decline in Imports for 2025: -41.6%

  Generic pharmaceuticals account for nearly three-fourths of all prescription drugs dispensed yearly in Canada. Generic pharmaceutical manufacturers are critical to this supply and have an invaluable role in public health and saving patients and insurers millions. Rapid population growth, rising incomes and a growing population of over 65 in Canada in recent years have also contributed to jumps in prescription spending. Despite this importance, the industry's revenue growth hinges on federal a...

  Learn More

• 3. Electrical Equipment Manufacturing in Canada

  Decline in Imports for 2025: -36.5%

  Canadian electrical equipment manufacturers have endured significant volatility in recent years. Drastic fluctuations in residential and nonresidential construction value contributed to revenue losses since 2019. During this time, heightened economic uncertainty, weaker corporate profit, elevated inflation and high interest rates pushed long-term borrowing costs higher, discouraging construction activity and harming demand for domestic manufacturers. Producers could make up some of these loss...

  Learn More

• 4. SUV & Light Truck Manufacturing in Canada

  Decline in Imports for 2025: -30.4%

  Canadian SUV and light truck manufacturers have struggled over the past decade, particularly as automakers move production abroad. High labour costs in Canada have encouraged foreign automakers to shift production to the United States, Mexico and other low-cost regions, diminishing output. However, the remaining passenger vehicle output in Canada has shifted toward increasingly popular SUVs and light trucks, creating some growth opportunities domestically. In particular, pickup trucks have gr...

  Learn More

• 5. Computer Manufacturing in Canada

  Decline in Imports for 2025: -22.4%

  Canadian computer manufacturers have undergone a long-term decline as fierce international competition continues to flood the domestic market with low-cost imports. Meanwhile, innovative needs and computing requirements have skyrocketed, creating a tightly packed, highly versatile and heavily competitive landscape. High costs in Canada, import penetration and limited market opportunities have created unfavourable conditions, causing some companies to exit the market, slashing profit and creat...

  Learn More

• 6. Shoe & Footwear Manufacturing in Canada

  Decline in Imports for 2025: -19.7%

  The Canadian shoewear industry has experienced slight growth in recent years, with the nation's improving economic conditions after the pandemic. A rise in disposable income and consumer spending has allowed businesses within this market to expand their reach and offerings. Opportunities thrive in niche markets, especially those targeting affluent individuals interested in specialized footwear. Innovation and product personalization remain key in attracting shoppers seeking exclusive, high-qu...

  Learn More

• 7. Computer Peripheral Manufacturing in Canada

  Decline in Imports for 2025: -16.2%

  Canadian computer peripheral manufacturers have faced long-term upheaval over the past two decades as fierce international competition overwhelms the domestic market with low-cost imports. High costs in Canada, import penetration and limited market opportunities have created unfavourable conditions, causing some companies to exit the market, slashing profit and creating additional volatility. While peripheral products are still desirable in the corporate space, paperless trends have limited d...

  Learn More

• 8. Iron & Steel Manufacturing in Canada

  Decline in Imports for 2025: -14.4%

  The Canadian steel industry is currently facing a challenging period marked by a projected 12.4% contraction in 2025, with total revenues falling to $15.2 billion. Although the industry posted a 2.5% CAGR over the current period, this figure is largely due to strong gains in 2021, followed by subsequent declines. This downturn is primarily driven by the imposition of a 25% US tariff on Canadian steel imports, which has sharply reduced export volumes and reduced the profit margin, leading to l...

  Learn More

• 9. Forklift & Conveyor Manufacturing in Canada

  Decline in Imports for 2025: -12.3%

  The Canadian material handling equipment industry, which produces essential goods like forklifts and conveyors for manufacturing, construction, warehousing and logistics, faces notable headwinds heading into 2025 due to a slowdown in domestic manufacturing activity, international trade uncertainties and potential tariff escalations that disrupt global supply chains. Despite robust demand over the past five years driven by industrial production growth, rapid e-commerce expansion and incr...

  Learn More

• 10. Synthetic Fibre Manufacturing in Canada

  Decline in Imports for 2025: -11.9%

  Canada's Synthetic Fibre Manufacturing industry has been navigating turbulent times, shaped by fluctuating demand and global economic changes. The sector, deeply connected to broader manufacturing and textile trends, often reflects the shifts seen in related industries. Despite a steady global appetite for synthetic fibres like polyester and nylon, Canadian manufacturers face hurdles like rising production costs and environmental pressures. The competition from international markets, partic...

  Learn More