Industries with Biggest Decline in Exports in Canada in 2026

• 1. Lubricant Oil Manufacturing in Canada

  Decline in Exports for 2026: -5.5%

  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...

  Learn More

• 2. Soap & Cleaning Compound Manufacturing in Canada

  Decline in Exports for 2026: -5.2%

  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...

  Learn More

• 3. Wiring Device Manufacturing in Canada

  Decline in Exports for 2026: -3.7%

  Wiring device manufacturers have enjoyed strong growth over the past five years. Switches for electrical circuitry have been doing the heavy lifting, buoyed by industrial construction, infrastructure work and ongoing grid upgrades, even as residential activity wobbles and auto manufacturing weakens. At the same time, soaring input costs and a shakeout among smaller producers have pushed the industry further toward larger, more automated and specialized manufacturers that are better positioned...

  Learn More

• 4. Mining, Oil & Gas Machinery Manufacturing in Canada

  Decline in Exports for 2026: -3.7%

  Canadian mining, oil and gas machinery manufacturers faced fluctuating input costs, notably with steel, impacting revenue and profit. When these prices skyrocketed in the middle of the period, so did revenue, as manufacturers were able to pass these costs on to consumers. Steel prices eventually stabilized in 2024, allowing companies to salvage profit while keeping revenue steady. Overall, industry revenue has pushed up at a CAGR of 5.3% through 2025, reaching $5.2 billion, including a 4.0% u...

  Learn More

• 5. Iron Ore Mining in Canada

  Decline in Exports for 2026: -3.6%

  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 ...

  Learn More

• 6. Jewellery Manufacturing in Canada

  Decline in Exports for 2026: -3.4%

  Canadian jewellery production has endured significant volatility in recent years. Fluctuating macroeconomic conditions have directly impacted demand for luxury products. Jewellery revenue jumped in 2020 and 2021. During this time, producers benefited from passing on soaring gold and silver prices to buyers, which, combined with higher significant disposable income gains in 2020, largely supported growing revenue. Although input prices largely continued to grow over the following years, weaken...

  Learn More

• 7. Household Furniture Manufacturing in Canada

  Decline in Exports for 2026: -3.4%

  Over the past five years, the Canadian household furniture manufacturing industry has faced an era defined by volatility and structural adjustment. Pandemic-era disruptions sparked sharp increases in input costs for lumber, foam and metals, as well as surging freight rates and persistent component shortages. These pressures forced manufacturers to rework sourcing strategies and invest in automation or digital capabilities just to keep pace as consumer behaviour shifted rapidly toward e-commer...

  Learn More

• 8. Ferrous Metal Foundry Products in Canada

  Decline in Exports for 2026: -3.2%

  The industry is facing significant challenges, marked by a decline during the current period at a CAGR of 4.1%, including an expected revenue drop of 19.4% in 2024 alone, bringing revenue down to $1.4 billion. This downturn is primarily driven by decreased domestic demand owing to a shift towards lighter, non-ferrous metals like aluminum, exacerbated by lingering pandemic disruptions and elevated interest rates. Additionally, the industry is grappling with sharply increased input prices and e...

  Learn More

• 9. Communications Equipment Manufacturing in Canada

  Decline in Exports for 2026: -2.1%

  Th industry has undergone significant changes alongside the nationwide adoption of 5G technologies. As 5G networks rolled out, most of the population accessed these faster connections by the end of 2025, forcing companies to find new avenues for growth. With 5G built mainly on top of older 4G infrastructure, providers have faced persistent technical challenges related to connectivity. While products aimed at enhancing data speeds have hit the market, cost concerns among...

  Learn More

• 10. Copper, Zinc & Lead Refining in Canada

  Decline in Exports for 2026: -1.6%

  Canadian metal producers have benefited from growing economic uncertainty and rising prices as consumers seek safer investments, such as gold and silver. Similarly, growing manufacturing and construction activity following the initial stages of the pandemic caused the price of other metals, including copper and nickel, to skyrocket, enabling refineries to pass down cost increases to buyers. However, refineries have been negatively impacted by normalizing economic conditions and falling metal ...

  Learn More