Forecast: IT Hardware Exports in Canada

From 2013 to 2023, IT hardware exports in Canada have shown considerable fluctuations. The actual values recorded a peak in 2015 and then steadily declined until 2021, with a notable increase in 2022 followed by a slight decrease in 2023. In 2023, the value stood at 1.8 units of goods exports. Over the last two years, the average year-on-year variation was -0.97%. The Compound Annual Growth Rate (CAGR) over the past five years averaged -0.38%, indicating a trend of slight reduction in export activities.

For the forecasted period from 2024 to 2028, the IT hardware exports are predicted to continue declining at a forecasted five-year CAGR of -0.45%, leading to a collective forecasted five-year growth rate of -2.24%. Although the rate of decline is slow, it indicates a stabilizing but consistently shrinking market.

Future trends to watch for:

  • Potential impact of technological advancements in other countries on Canada's export competitiveness.
  • Emerging markets and new trade agreements that could influence export volumes.
  • Shifts in global supply chains and their effects on Canada's manufacturing and export capabilities.

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