The import of silver ores and concentrates to Canada has exhibited significant fluctuations from 2013 to 2023. The value stood at 187.84 million USD in 2023, showing slight stability compared to the previous years.
From 2013 to 2017, the import values showed a combination of steep declines and significant recoveries, leading up to an increase in 2017. The period from 2018 to 2023 saw more variability, with notable decreases in 2018 and 2019, slight increase in 2020, a sizeable rebound in 2021, a moderate dip in 2022, and a minor increase in 2023.
For the last two years:
- 2022: -4.68% YoY
- 2023: 0.088% YoY
Looking at the last five years (2019-2023), the Compound Annual Growth Rate (CAGR) was approximately -4.15%. Conversely, the forecasted CAGR for the next five years (2024-2028) is modest at around 0.16%, indicating a potential stabilization in import values.
Future trends to watch for:
- Market stability and minimal growth as indicated by the forecasted data.
- Potential market influencers such as global silver demand, mining outputs from leading suppliers, and changes in international trade policies affecting the import of raw materials.
