Industries with the Biggest Decline in Imports in Canada in 2026

• 1. Oil Drilling & Gas Extraction in Canada

  Decline in Imports for 2026: -33.2%

  Oil drilling and gas extraction in Canada have grown tremendously, resulting from rising prices and additional investment in production. Oil and gas companies suffered significantly in 2020 amid the pandemic as prices drastically fell amid lockdowns. As the economy reopened, the need for oil and gas became apparent and prices skyrocketed, bolstering revenue. The Russia-Ukraine conflict further exacerbated this, causing exports to surge as foreign countries looked elsewhere to get oil and gas....

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• 2. Soap & Cleaning Compound Manufacturing in Canada

  Decline in Imports for 2026: -14.8%

  Soap and cleaning compound manufacturers have experienced a varied performance recently, with certain markets significantly impacting their sales. Supermarkets and mass merchandisers continue to be strong avenues, as consumers opt for bulk purchases to combat rising prices. Hygiene standards have also spurred growth in healthcare sales. However, the office building market, plagued by high remote work rates and construction slowdowns, has seen stagnation. Food service establishments face chall...

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• 3. Iron Ore Mining in Canada

  Decline in Imports for 2026: -13.4%

  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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• 4. Flour Milling in Canada

  Decline in Imports for 2026: -12.5%

  The Flour Milling industry in Canada has experienced strong growth over the five years to 2025 amid a surge in demand for Canadian flour milling products in 2022 and 2023. The industry includes operators that produce flour products from milling grains, rice millers and malt manufacturers. Flour is the largest product segment and heightened demand for Canadian flour has buoyed industry growth. Malt manufacturing has also driven the industry's growth, given that Canada is the second-largest exp...

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• 5. Canned Fruit & Vegetable Processing in Canada

  Decline in Imports for 2026: -7.9%

  Canned fruit and vegetable processors in Canada manufacture vegetable-based sauces, soups, canned produce, juices and dehydrated fruits and vegetables. Expanding health concerns regarding some canned fruit and vegetable processors' products and boosting income levels have prompted consumers to turn to fresher or premium alternative goods. Despite manufacturers' efforts to introduce healthier brand extensions and safer packaging, demand for canned fruit and vegetable products has waned, pressu...

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• 6. Lubricant Oil Manufacturing in Canada

  Decline in Imports for 2026: -5.8%

  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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• 7. Plastic Bottle Manufacturing in Canada

  Decline in Imports for 2026: -5.5%

  The industry has faced significant headwinds over the current five-year period, with persistent trade deficits and foreign competition constraining domestic production capacity. The sector has struggled against low-cost imports primarily from the United States, which supplies the majority of Canadian demand while limiting opportunities for domestic manufacturers to expand market share. Environmental regulations, including single-use plastic bans and extended producer responsibility programs, ...

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• 8. Oxygen & Hydrogen Gas Manufacturing in Canada

  Decline in Imports for 2026: -4.9%

  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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• 9. Shoe & Footwear Manufacturing in Canada

  Decline in Imports for 2026: -4.8%

  The Canadian shoewear industry has experienced slight growth in recent years, with the nation's improving economic conditions after the pandemic. A rise in disposable income and consumer spending has allowed businesses within this market to expand their reach and offerings. Opportunities thrive in niche markets, especially those targeting affluent individuals interested in specialized footwear. Innovation and product personalization remain key in attracting shoppers seeking exclusive, high-qu...

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• 10. Hand Tool & Cutlery Manufacturing in Canada

  Decline in Imports for 2026: -4.4%

  Structural shifts in demand, advancements in industrial automation and changing consumer preferences continue to shape the operating context for Canadian hand tool and cutlery manufacturers. The industry responds to cycles in construction, resource extraction and home renovation, with infrastructure investment and professional tool upgrading serving as key market drivers. Technological upgrades in end-user sectors, such as precision manufacturing and energy-efficient retrofits, place upward p...

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