The import of worked granite to Canada has experienced a clear declining trend from 2013 to 2023, with the value standing at 19.412 million US Dollars in 2023. From 2013 to 2023, the year-on-year variation in the import value has shown frequent declines, with minor recoveries in certain years such as 2019 (+4.07%) and 2021 (+2.33%). The last two years have seen negative variations of -2.81% in 2022 and -2.83% in 2023. The Compound Annual Growth Rate (CAGR) over the last five years indicates an average annual decline of -1.76%. Looking ahead, forecasts from 2024 suggest continued declines, with a forecasted 5-year CAGR of -2.61%, predicting the import value to reach approximately 16.461 million US Dollars by 2028.
Future trends to watch for include:
- Potential shifts in Canadian construction and infrastructure projects which could alter demand for worked granite.
- Changes in trade policies or tariffs that could impact import volumes and values.
- Technological advancements or innovations in alternative materials that may replace granite in various applications.
- Economic fluctuations that could influence overall import activity and spending power.
