Industries with the Biggest Decline in Exports in Canada in 2025

1. Coal Mining in Canada

Decline in Exports for 2025: -17.5%

Operators in the Coal Mining industry in Canada have experienced considerable fluctuations in prices of industry goods. Canadian coal mining revenue has been increasing at an annualized 11.3% over the past five years, including an estimated 32.3% decrease in 2023, and is expected to total $19.0 billion. In 2023, profit is set to increase to 32.1%. The industry has two primary products, metallurgical coal used for steel production and thermal coal used in energy generation. At the start of the current period, global oversupply and falling demand resulted in low prices and revenue. Subsequent price growth between 2016 and 2018... Learn More

2. Thermal Power in Canada

Decline in Exports for 2025: -5.6%

The industry is composed of companies that generate electricity using natural gas, coal, uranium or crude oil. Strong economic growth and high wages before the pandemic boosted demand for electricity from the commercial, residential and industrial sectors, so revenue rose. Since most businesses were shut down during COVID-19, spending on electricity from companies and manufacturers fell precipitously, hurting thermal power plant operators in 2020. The decline in revenue growth during the pandemic was reduced by high demand for electricity from households, as individuals stuck at home used their lights, computers and other devices more frequently.

As the global economy recovered from... Learn More

3. Iron & Steel Manufacturing in Canada

Decline in Exports for 2025: -5.2%

Iron and steel manufacturers melt and refine iron ore into pig iron, which is processed into steel and shaped in various shapes for downstream construction- and manufacturing-related industries. Manufacturers are directly affected by changing prices for steel. Volatility in steel prices has increased since the COVID-19 pandemic. A limited global supply of steel has caused a sharp uptick in the price of steel alongside growing demand. Revenue is expected to grow at a CAGR of 3.0% to $18.9 billion through the end of 2023, despite a decline of 6.9% in 2023 alone.

Revenue for manufacturers follows a variety of factors, including... Learn More

4. Breweries in Canada

Decline in Exports for 2025: -4.6%

As the Breweries industry in Canada has evolved in response to changing trends, its expansion has stagnated. While the industry has benefited from the popularity of craft beer from local microbreweries, consumers have shifted away from the traditional light and premium beer brands that currently represent most of industry brewers' sales. Navigating the challenging conditions of the COVID-19 pandemic, breweries saw sharp contractions across multiple years. As a result, industry revenue is anticipated to decline at a CAGR of 2.6% to $6.7 billion over the five years to 2023, including a contraction of 2.4% during the current year.

The rising popularity... Learn More

5. Mining, Oil & Gas Machinery Manufacturing in Canada

Decline in Exports for 2025: -4.4%

Canada is one of the world's largest producers of crude oil and natural gas, as well as a range of other metal and mineral commodities. This has traditionally benefited the Mining, Oil and Gas Machinery Manufacturing industry, which produces goods used by extraction industries. Revenue is closely tied to commodity prices, as these can dictate levels of investment and activity by extraction companies. Commodity prices have been hugely volatile over the five years to 2023, with the prices of many goods tanking, causing exploration activity and demand for industry products to fall in certain years. Overall, Alfabank-Adres estimates that industry... Learn More

6. Ferrous Metal Foundry Products in Canada

Decline in Exports for 2025: -3.6%

Canadian ferrous metal foundries sell iron and steel castings to manufacturing and construction industries. Buyers use ferrous metal foundry products in various industrial applications, including farm machinery, engines, turbines, power transmission equipment, automobiles and railways. Despite robust demand for ferrous metal foundry products, foreign competition from low-cost producers in China and India has increasingly challenged domestic companies. As a result of volatility in manufacturing and construction markets, revenue has faltered. Revenue contracted at an expected CAGR of 1.2% to $1.5 billion through the current period, including a 2.6% dip in 2023, when profit reached 3.9%. Declining steel and iron prices... Learn More

7. Oil Drilling & Gas Extraction in Canada

Decline in Exports for 2025: -3.4%

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. Overall, revenue is expected to grow at a CAGR of 7.4% to $173.5 billion over the five years to 2023, despite a decline of 22.2% in 2023 alone. Profit has also fluctuated. Many companies endured below zero profits before it rose after the pandemic.

Despite operating volatility, Canada... Learn More

8. Synthetic Fibre Manufacturing in Canada

Decline in Exports for 2025: -3.2%

The Canadian Synthetic Fibre Manufacturing industry has faced a challenging competitive landscape over the past five years. Lower production costs have sent downstream customers abroad while simultaneously expanding import penetration. Lacklustre innovation by domestic producers has shrunk their global competitiveness, forcing them to compete on price and putting downward pressure on profit. The COVID-19 pandemic compounded declines, leading revenue to shrink at a CAGR of 3.2% over the past five years, reaching an estimated $359.6 million in 2023. Falling oil prices and expanding disposable income levels will temporarily relieve synthetic fibre producers, precipitating an estimated 2.9% expansion in revenue in... Learn More

9. Metal Stamping & Forging in Canada

Decline in Exports for 2025: -3.2%

Metal stampers and forgers in Canada manufacture metal products using a variety of pressing machines and localized compressive forces. Industry products may be made of steel or nonferrous metals, such as aluminum, which are typically used as components in downstream manufacturing processes. Buyers of forged and stamped metal products include the commercial aerospace, defence and agricultural machinery manufacturing markets, among others. However, trade tensions with the United States, geopolitical uncertainty and the COVID-19 pandemic have hindered industry performance. Industry revenue has decreased at a CAGR of 8.9% throughout 2023, including a decline of 6.0% to total an estimated $1.4 billion... Learn More

10. Copper, Nickel, Lead & Zinc Mining in Canada

Decline in Exports for 2025: -3.0%

Copper, nickel, lead and zinc mine operators rely heavily on the market prices of the metals they produce. According to a 2018 British Geological Survey report (latest data available), Canada is one of the 10 largest global producers of nickel, copper and zinc. The most valuable metals are nickel and copper, key inputs for many products. Product prices can shift significantly in response to changing global market conditions, prompting significant revenue and profit volatility. Although nickel and zinc prices have grown during the period, declining domestic production has damaged industry performance. COVID-19 presented a considerable challenge to mine operators in... Learn More