The aerospace industry trade balance in Canada saw significant fluctuations from 2013 to 2023. In 2023, the value stood at 3.76 billion USD. After a peak in 2014, it experienced a steep decline until 2019, followed by a rebound in 2020. The years 2021 and 2022 showed positive growth, though with some variability in year-on-year changes. The recent five-year period from 2018 to 2023 recorded an average annual growth rate of 2.14%, indicating steady but modest growth, with a 3.07% year-on-year increase in 2023.
Future trends to watch for include:
- Technological advancements leading to more efficient production methods.
- Potential impacts of global geopolitical dynamics on trade policies.
- Increasing environmental regulations prompting innovations in sustainable aerospace solutions.
- Continued recovery and growth in the industry post-pandemic.