Impact of COVID-19 on merchandise imports: Evidence based on end-use goods, 2020
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Released: 2021-02-02
The study Impact of COVID-19 on merchandise imports: evidence based on end-use goods, released today, analyzes the impact of the COVID-19 pandemic on international merchandise imports using monthly Broad Economic Categories, Rev.5 (BEC5) data to compare the first half of 2019 with the first half of 2020. In absolute terms, intermediate goods were the most negatively affected, with a decline of $21.6 billion, followed by capital goods and consumption goods, with a decline of $18.5 billion and $10.4 billion, respectively. However, in relative terms (percentage), capital goods were the most adversely affected of the three end-use categories, with a decline of 24.4%.
For individual broad economic categories, transport equipment and travel services were the most adversely affected by the pandemic, followed by energy, mining, basic metals and chemicals.
The COVID-19 pandemic has resulted in supply chain shifts, which have affected mainly the import supply from the US and China.
Products
The document Impact of COVID-19 on merchandise imports: evidence based on end-use goods, part of Latest Developments in the Canadian Economic Accounts (13-605-X), is now available.
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