Over the past 11 years, the import value of millstones and grindstones of natural stone to Canada has shown significant oscillations. Starting from 2013, the import value saw an initial decline, followed by a strong recovery in 2016 and subsequent stabilization with some minor fluctuations. In 2023, the import value stood at 812.71 thousand USD, reflecting a minor reduction from the previous year.
In recent years, the year-on-year variation has exhibited moderate decreases. Specifically, the import value decreased by 0.89% from 2021 to 2022 and by 0.88% from 2022 to 2023. Over the last five years up to 2023, the compound annual growth rate (CAGR) has indicated a slight decline at -1.05%.
Looking forward, the forecast from 2024 to 2028 shows a gradual decrease in the import values, with a forecasted 5-year CAGR of -0.76% and an overall 5-year growth rate reduction of 3.72%. Future trends to watch for include changes in industrial demand for natural stone, potential shifts towards synthetic alternatives, and fluctuations in economic conditions influencing import-export activities.
