Fastest Growing Industries by Imports in Canada in 2026

• 1. Oil Drilling & Gas Extraction in Canada

  Growth in Imports for 2026: 39.2%

  Oil drilling and gas extraction in Canada have grown tremendously, resulting from rising prices and additional investment in production. As the economy recovered in 2021, the need for oil and gas rose, 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. While prices crept down later in the period, they remained elevated and well above pre-pandemic levels. Overall, r...

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• 2. Paper Mills in Canada

  Growth in Imports for 2026: 13.2%

  Over the past five years, the Paper Mills industry in Canada has navigated a brief post‑pandemic rebound followed by renewed structural headwinds. Mills enjoyed a sharp revenue upswing as the 2022 reopening and inventory restocking temporarily lifted orders, but this momentum quickly faded as global wood pulp prices climbed, downstream print demand eroded, and export volumes normalized from pandemic-era peaks. Profitability has been squeezed by rising input costs and soft demand in traditiona...

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• 3. Petroleum Refining in Canada

  Growth in Imports for 2026: 13.1%

  Revenue for the Canadian Petroleum Refining industry has been volatile. Crude oil is the primary input into industry products, so its price is the primary driver of industry revenue. However, the collapse in oil prices during the pandemic in 2020 had driven refinancing revenue down. Subsequently, high demand and ongoing supply chain disruptions led crude oil prices to spike sharply, translating into an industry revenue boom in 2021 and 2022. However, tempered oil prices in 2024 and 2025 imped...

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• 4. Plastic Pipe & Parts Manufacturing in Canada

  Growth in Imports for 2026: 12.1%

  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, along with supply chain disruptions, have presented both 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. Maj...

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• 5. Glasses & Contact Lens Manufacturing in Canada

  Growth in Imports for 2026: 9.2%

  Glasses and contact lens manufacturers in Canada are crucial in providing essential vision correction and protective eyewear, supporting the well-being and productivity of individuals across age groups and demographics. Recent performance points to a challenging environment driven by growing import competition, evolving digital shopping preferences and a rapidly changing optical technology landscape. Although demand remains robust, domestic suppliers have struggled to keep pace with larger in...

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• 6. Pottery, Ceramics & Plumbing Fixture Manufacturing in Canada

  Growth in Imports for 2026: 9.1%

  The ceramics manufacturing industry in Canada is experiencing a period of decline despite a gain in residential construction activity in 2025. Increased demand for ceramic fixtures, which naturally occurs with a boom in housing development, is primarily benefiting imports as opposed to domestic manufacturers. This trend underlines Canada's long-standing reliance on foreign-made ceramics and is reflected in the stagnant sales experienced by Canadian manufacturers. Global competition continues ...

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• 7. Boat Building in Canada

  Growth in Imports for 2026: 9.0%

  Canadian boat builders manufacture various watercraft for personal, commercial and government use. These products are highly discretionary purchases, so boat builders benefit from growing consumer confidence, disposable income and spending. The pandemic fostered strong boat sales, encouraging individuals to find socially-distanced recreational activities, leading to heightened demand for boating. This trend has altered the industry's structure, pushing companies to provide added value to conv...

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

  Growth in Imports for 2026: 8.4%

  Manufacturers of plastic bags and films have navigated a dynamic market since the pandemic, including challenges such as 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 decline, a trajectory expected to continue throughout 2025. A le...

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• 9. Navigational Instrument Manufacturing in Canada

  Growth in Imports for 2026: 8.1%

  Navigational instrument manufacturers have navigated a fluctuating landscape, marked by both challenges and opportunities. While diverse product lines spanning defence, marine, aerospace and electronic sectors have provided a cushion against major revenue swings, fierce competition and high production costs have facilitated modest revenue gains. The industry benefited from an expansion in Canadian defence spending, which drove greater spending in downstream markets. Spe...

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• 10. Gold & Silver Ore Mining in Canada

  Growth in Imports for 2026: 7.8%

  Gold and silver ore mining continues to thrive as production levels remain elevated, driven largely by Canada's significant gold deposits, which account for over 98.0% of revenue garnered from gold product sales. Early in the current period, in 2021 and 2022, industry returns fell from pandemic-era highs; during the pandemic, escalating gold prices attracted investor attention because of gold's unique properties as a countercyclical asset, offering a hedge against inflation and market volatil...

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