HSBC 2030 Projection: “United States is projected to remain Canada’s primary export market”

Even in 2030, Canada will remain America’s primary export market, with China rising to #2 export market.

From HSBC Global Connections:

The United States is projected to remain Canada’s primary export market in 2030, with China expected to become the second largest.

Although imports will continue to be driven by industrial machinery and transport equipment, their contribution to import growth is expected to decline from 30% to 20% in the long-run.

Growth in regional export flows in the long run is led by Asia (excluding Japan), with exports to the region expected to rise by 12% pa. Latin America, Middle East and North Africa, and Sub-Saharan Africa are all expected to grow at just under 9% pa.

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