2023 Canadian exports and imports report shows positive shift

Published On: October 3, 2024Categories: Industry News, News

The National Marine Manufacturers Association’s (NMMA) 2023 Recreational Boat and Marine Engine Exports and Imports report is now available as a part of the 2023 Canadian Recreational Boating Statistical Abstract. This section offers a comprehensive analysis of Canada’s recreational boating industry’s international trade from 2014 to 2023.

In 2023, the Canadian recreational boating industry experienced a reduced trade deficit, shrinking by 11.9%. Total exports grew by 8.1% to $214.2 million, while imports decreased by 9.6%. The light personal craft segment showed notable growth, with exports increasing to $87 million. In contrast, gas outboard engine exports dropped to $1.4 million. Outboard boat imports fell by 16.1% to $367.4 million, and inboard/sterndrive boat imports decreased to $450.5 million.

Overall, 2023 showed a positive shift in trade balance with increased export values and decreased imports, reflecting a recovering market following the challenges of 2021 and 2022. For more information, visit nmma.ca/statistics.