The import value of electronic printed circuits to Canada has shown a consistent decline from 2013 to 2023, with the value standing at $271.89 million in 2023. The annual variations reveal negative trends, most notably in 2013 with a -14.33% year-on-year decrease and in 2015 with a -14.01% decrease. Over the last two years, the market experienced an average annual decline of -4.27%.
Looking at a longer period, from 2018 to 2023, the compound annual growth rate (CAGR) was -3.24%, indicating an overall declining trend. Forecasting the next five years, the CAGR is expected to be -4.26%, implying a sharper decline and a projected growth rate of -19.57% from 2024 to 2028.
Future trends to watch for include potential shifts in manufacturing hubs due to geopolitical factors, technological advancements reducing dependency on imports, or investments in local production capacities that could further impact import volumes and values. Keep an eye on changes in trade policies and global supply chain dynamics that might alter import patterns significantly.
