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2022
Exports $195MWorld Rnk 3 / 175
Flag Rnk 285 / 1210
2022
Destination $12M United States
2021 - 2022
FASTEST GROWING MARKET $12MUnited States
2022
PRODUCT COMPLEXITY IN Soups and Broths-0.5Rnk 704 / 1025
2022
Imports $302MWorld Rnk 3 / 223
Flag Rnk 330 / 1213
2022
Origin $22.8M United States
2021 - 2022
FASTEST GROWING ORIGIN $22.8MUnited States
2022
ECONOMIC COMPLEXITY of Canada0.92Rnk 31 / 133

About

Exports In 2022, Canada exported $195M in Soups and Broths, making it the 3rd largest exporter of Soups and Broths in the world. At the same year, Soups and Broths was the 285th most exported product in Canada. The main destination of Soups and Broths exports from Canada are: United States ($185M), Thailand ($3.88M), Japan ($2.87M), Philippines ($1.08M), and United Kingdom ($359k).

The fastest growing export markets for Soups and Broths of Canada between 2021 and 2022 were United States ($12M), Thailand ($763k), and Philippines ($563k).

Imports In 2022, Canada imported $302M in Soups and Broths, becoming the 3rd largest importer of Soups and Broths in the world. At the same year, Soups and Broths was the 330th most imported product in Canada. Canada imports Soups and Broths primarily from: United States ($272M), Chile ($7.09M), Mexico ($3.63M), Japan ($3.37M), and France ($1.58M).

The fastest growing import markets in Soups and Broths for Canada between 2021 and 2022 were United States ($22.8M), Chile ($3.31M), and Mexico ($553k).

Latest Trends

August 2024

About

Overview In August 2024 Canada's Soups and Broths exports accounted up to C$30.6M and imports accounted up to C$35.3M, resulting in a negative trade balance of C$4.61M. Between August 2023 and August 2024 the exports of Canada's   Soups and Broths have increased by C$4.33M (16.4%) from C$26.3M to C$30.6M, while imports increased by C$5.68M (19.2%) from C$29.6M to C$35.3M.

Destinations In August 2024, Soups and Broths were exported mostly to United States (C$30M), United Kingdom (C$336k), Philippines (C$223k), South Korea (C$54.2k), and Netherlands (C$5.16k), and were imported mostly from United States (C$29M), Chile (C$2.02M), South Korea (C$1.15M), Mexico (C$579k), and Japan (C$565k).

Growth In August 2024, the increase in Soups and Broths's year-by-year exports was explained primarily by an increase in exports to United States (C$420k or 2.45%), Germany (C$4.07k or 480%), and Saint Pierre and Miquelon (C$1.01k or 23.3%). In August 2024, the increase in Soups and Broths's year-by-year imports was explained primarily by an increase in imports from United States (C$10.6M or 40%), Chile (C$1.05M or 532%), and Mexico (C$283k or 67.1%).

Subnational Monthly Trade

Time Scale
Flow
Color
EXPORT GROWTH (August 2023 - August 2024)C$4.33M(16.4%)
IMPORT GROWTH (August 2023 - August 2024)C$5.68M(19.2%)
MAIN EXPORTER (August 2024)OntarioC$18.1M
MAIN DESTINATION (August 2024)United StatesC$30M

This section shows Soups and Broths's exports and imports data at subnational level for Canada. Click any date in the line plot, any subnational region in the geomap, or any destination or origin country to explore the exports or imports behavior of Soups and Broths over time.

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Historical Data

Trade Balance

Color
EXPORTS (2022)$195M
IMPORTS (2022)$302M
NET TRADE (2022)-$108M

In 2022, Canada exported $195M in Soups and Broths. The main destinations of Canada exports on Soups and Broths were United States ($185M), Thailand ($3.88M), Japan ($2.87M), Philippines ($1.08M), and United Kingdom ($359k).

In 2022, Canada imported $302M in Soups and Broths, mainly from United States ($272M), Chile ($7.09M), Mexico ($3.63M), Japan ($3.37M), and France ($1.58M).

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Export Destinations (2022)

Import Origins (2022)

Market Growth

Flow
THE FASTEST GROWING Soups and Broths EXPORT MARKETS FOR Canada WERE (2021 - 2022):
United States$12M (6.94%)
Thailand$763k (24.5%)
Philippines$563k (109%)
THE FASTEST DECLINING MARKETS FOR THE EXPORT OF Soups and Broths BY Canada WERE (2021 - 2022):
Japan-$1.78M (-38.4%)
Chinese Taipei-$296k (-91.1%)
China-$202k (-57.5%)
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Change in Exports by Market (2021 - 2022)

Market Concentration

View
Flow
Type
In 2022, Canada's main exporting competitors in Soups and Broths were:
United States $701M
Germany $209M
In 2022, Canada's main importing competitors in Soups and Broths were:
United States $398M
Mexico $342M

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Trade Value of Soups and Broths by Exporters

Potential Exports

Potential Exports

Flow
View
TOP EXPORT POTENTIALJapan+ $1.24M
TOP IMPORT POTENTIALChina+ $2.48M

Soups and Broths’s highest export potential is Japan. With an export gap of $1.24M.   Soups and Broths’s highest import potential is China with an import gap of $2.48M.

See methodology.

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