Welcome back, Daniel Workman here, senior research yst at World's Top exports.com
In today's presentation, we'll compare the interco performance for two high profile yet relatively smaller players in international trade
Us, A's northern neighbor, Canada is the world's number 11 exporter by total sales in 2022 the fast growing Asian giant
India finished lower as a top 17 exporter nation. Now let's look at the agenda for our comparison
We'll quantify important facts, distinguishing the two competitors. Then we'll focus on the most valuable exported products that India sold to Canadian importers
Our next topic showcases products imported from Canada on which India's buyers spent the most
We will present a graphic to compare India's trade balances with Canada from 2018 to 2022
Then we'll spotlight the major competitive advantages and disadvantages of the two global trade competitors
Finally, we'll highlight the most important insights for our country versus country ysis
Now, for the tail of the tape for our two competitors in terms of gross domestic product and a purchasing power parity basis
India's economy is the world's third richest country. While Canada ranks 16th
India's population dwarfs Canada's demographics by 35 times. India and Canada are distant trade partners with an
air flight from Canada. India taking about 17 hours. Canada was Indian exporter's 32nd largest customer
accounting for under 1% of India's overall export sales in ninth place
India ranked higher among all international buyers of Canadian exported goods but still scored just 0.7% compared to Canada's overall
export sales. India's exporters grew their sales to Canada by 19.5%. Well behind the 43.8
increase in Indian import purchases from the Great White North year over year
India's leading exports to Canada are highly diversified, ranging from medicines and jewelry to food items
The fastest growing among these top exports were ferro alloys using the production of steel and related alloys via 100 and 13.2
increase compared to 2021. The leading year over year decliner was an organic chemical used in drugs and medicines
Heterocyclic compounds that include nitrogen. The eight top exports from India to Canada represent 26% of all
India's sales to buyers in Canada. India's major imports from Canada are also diversified
ranging from coal and fertilizers to dried vegetables and newsprint in rolls
Several of the best product categories attracting demand from India's ex importers are chemicals related
The leading a import shown generated 68.1% of India's overall imports from Canada
That percentage is much more concentrated than the foremost Indian exported product shown on the previous slide
In 2018 and 2019, India racked up two large trade deficits with Canada
But since then, India has generated multimillion dollar surpluses, trading with Canadian exporters and importers
India's trade surplus with Canada did shrink by 59% in 2022. Compared to 2021
Here are some critical findings from our presentation partly due to its geographic distance from India
Canada placed 32nd among India's importers. On the other hand, India ranked ninth among international customers spending on imports
from Canada. India's top exports to Canada are varied but are headlined by medicines and precious metal jewelry led
by Canadian coal and fertilizers. India's most valuable imports are also diverse but are more concentrated than its top exports
India generated a $345 million surplus trading products with Canada in 2022 that continues a three
year streak of Indian surpluses at Canada's expense. And for our bonus insight
the Indian rupee depreciated by an average 6.2% versus the US dollar from 2021 to 2022
That drop exceeds the average 3.8% decline for the Canadian dollar versus the US dollar
Those statistics are from the International Monetary Fund. For more key insights and useful international trade
data, please visit us at world's top exports.com. Note that many of our articles feature a searchable document database that
showcase our country's top 100 most valuable exported products. And we'll see you again on our next video