In 2023, the re-import of parts of electronic integrated circuits to Canada was valued at higher than the forecasted figures for subsequent years. The forecast data shows a declining trend from 2024 to 2028, with values projected to decrease each year. The year-on-year percentage change reflects a consistent decline, with a substantial downturn expected by 2028. The total decline averages out to a negative compound annual growth rate (CAGR), indicating a steady reduction in re-import value over the five-year period.
Future trends to watch for include:
- Potential changes in global trade policies that may impact import tariffs and regulations.
- Technological advancements in domestic manufacturing reducing dependency on parts re-import.
- Fluctuations in demand for integrated circuits in Canada, influenced by technological advancements and industry shifts.