Industries with Biggest Decline in Exports in Canada in 2026

• 1. Lubricant & Other Petroleum Product Manufacturing in Canada

  Decline in Exports for 2026: -32.0%

  Lubricant oil manufacturers have enjoyed a profitable, if uneven, run in recent years. Elevated crude prices since 2022 have let producers push through hefty list‑price increases, while exports to the United States have quietly become a critical safety valve for a small, open market. At the same time, the industry’s structure has shifted: small blenders have declined, import competition has firmed up and the auto sector, traditionally the core demand engine, is changing in ways that don’t alw...

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• 2. Industrial Gas Production in Canada

  Decline in Exports for 2026: -4.7%

  Oxygen and hydrogen manufacturers in Canada have faced a challenging landscape in recent years, influenced by a confluence of regulatory pressures, market shifts and economic fluctuations. The increasing focus on environmental responsibility has prompted these manufacturers to evolve, aiming to mitigate their carbon footprints while navigating the dynamics of import penetration, particularly from the US and China. Despite these hurdles, manufacturers have enjoyed certai...

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• 3. Plastic Pipe & Parts Manufacturing in Canada

  Decline in Exports for 2026: -4.3%

  Plastic pipe and parts manufacturers have experienced high revenue volatility over the five years through 2025. Fluctuations in demand from downstream construction and manufacturing industries in addition to supply chain disruptions have presented opportunities and challenges for plastic parts manufacturers. Since a significant portion of revenue is generated through international trade, geopolitical tensions and trade and tariff negotiations have led to significant revenue volatility. Major ...

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• 4. Wiring Device Manufacturing in Canada

  Decline in Exports for 2026: -3.7%

  Wiring device manufacturers have enjoyed strong growth over the past five years. Switches for electrical circuitry have been doing the heavy lifting, buoyed by industrial construction, infrastructure work and ongoing grid upgrades, even as residential activity wobbles and auto manufacturing weakens. At the same time, soaring input costs and a shakeout among smaller producers have pushed the industry further toward larger, more automated and specialized manufacturers that are better positioned...

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• 5. Mining, Oil & Gas Machinery Manufacturing in Canada

  Decline in Exports for 2026: -3.7%

  Canadian mining, oil and gas machinery manufacturers faced fluctuating input costs, notably with steel, impacting revenue and profit. When these prices skyrocketed in the middle of the period, so did revenue, as manufacturers were able to pass these costs on to consumers. Steel prices eventually stabilized in 2024, allowing companies to salvage profit while keeping revenue steady. Overall, industry revenue has pushed up at a CAGR of 5.3% through 2025, reaching $5.2 billion, including a 4.0% u...

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• 6. Iron Ore Mining in Canada

  Decline in Exports for 2026: -3.6%

  Iron ore miners have experienced massive shifts in revenue for most of the period since iron is used to produce steel, linking performance directly to the strength of the global economy and construction markets. Exports are a significant market for miners, and heightened demand from China, alongside expansions from other major trading partners, has been beneficial, as iron ore prices have spiked amid supply shortages. Nonetheless, prices came tumbling down starting in 2022 through 2025. This ...

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• 7. Jewellery Manufacturing in Canada

  Decline in Exports for 2026: -3.4%

  Canadian jewellery production has endured significant volatility in recent years. Fluctuating macroeconomic conditions have directly impacted demand for luxury products. Jewellery revenue jumped in 2020 and 2021. During this time, producers benefited from passing on soaring gold and silver prices to buyers, which, combined with higher significant disposable income gains in 2020, largely supported growing revenue. Although input prices largely continued to grow over the following years, weaken...

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• 8. Household Furniture Manufacturing in Canada

  Decline in Exports for 2026: -3.4%

  Over the past five years, the Canadian household furniture manufacturing industry has faced an era defined by volatility and structural adjustment. Pandemic-era disruptions sparked sharp increases in input costs for lumber, foam and metals, as well as surging freight rates and persistent component shortages. These pressures forced manufacturers to rework sourcing strategies and invest in automation or digital capabilities just to keep pace as consumer behaviour shifted rapidly toward e-commer...

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• 9. Communications Equipment Manufacturing in Canada

  Decline in Exports for 2026: -2.1%

  Th industry has undergone significant changes alongside the nationwide adoption of 5G technologies. As 5G networks rolled out, most of the population accessed these faster connections by the end of 2025, forcing companies to find new avenues for growth. With 5G built mainly on top of older 4G infrastructure, providers have faced persistent technical challenges related to connectivity. While products aimed at enhancing data speeds have hit the market, cost concerns among...

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• 10. Plastic Film, Sheet & Bag Manufacturing in Canada

  Decline in Exports for 2026: -1.8%

  Manufacturers of plastic bags and films have navigated a dynamic market since the pandemic, including challenges like fluctuating prices, shifting demand and stringent environmental regulations. Between 2020 and 2022, the industry experienced a significant increase in plastic costs due to supply chain disruptions and rising raw material expenses, particularly crude oil. However, in 2023, this trend reversed as prices began to decrease, a trajectory that was expected to continue throughout 202...

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