In 2023, the import value of monumental or building stone, porphyry, and basalt to Canada stood at 5.9827 million USD. The year-on-year variation from 2022 to 2023 was an increase of 1.91%, showing a slight upward trend. Over the last two years (2021-2023), the import value has seen average annual growth, depicted by a CAGR (Compound Annual Growth Rate) of -0.37%. Observing a broader timeline, from 2018 to 2023, the CAGR is recorded at a negative -0.37%, highlighting a slight overall decline in imports.
For the future, projections indicate modest growth. The forecasted data suggests a 5-year CAGR of 1.37%, predicting the import value to reach 6.5164 million USD by 2028, which is an increase of 7.02% over this period. The anticipated gradual recovery may be influenced by factors such as construction industry growth, policy changes, and global trade dynamics.
Future trends to watch for include:
- Evolving construction practices and materials preferences
- International trade policies affecting stone imports
- Technological advancements in quarrying and stone processing
- Sustainability trends and their impact on material choices for building
