From 2023 to 2024, the forecast shows a notable continuation of Canada's imports of petroleum gases and other gaseous hydrocarbons, maintaining a steady value from previous trends. The forecasted imports depict a gradual decline over the years from 2024 to 2028, with a consistent reduction averaging year-on-year. The compound annual growth rate (CAGR) over these five years indicates a negative trend, suggesting reduced dependency or increased self-reliance on domestic sources. As of 2023, import levels were modestly higher than the forecasted figures for 2024 at approximately 2.3715 billion USD.
Future trends to watch:
- Potential shifts in energy policies and their impact on import levels.
- Technological advancement in energy efficiency and domestic production.
- Global market dynamics influencing pricing and supply routes.
