FX.co ★ Canada Imports Drop in January

Canada’s imports fell 1.1% month-on-month to C$66.1 billion in January 2026, with declines in 7 of 11 product categories. Imports of motor vehicles and parts dropped 4.5%, driven by an 8.3% decline in motor vehicle engines and parts, in line with reduced vehicle production in Canada caused by unusual production stoppages. In contrast, imports of consumer goods edged up 0.4%, and imports of industrial machinery, equipment, and parts increased 3.4%, boosted by a 53.1% surge in other industry-specific manufacturing machinery, largely related to liquefied natural gas (LNG) infrastructure construction. These gains were partly offset by a 3.6% decrease in imports of electronic and electrical equipment and parts, mainly reflecting lower smartphone imports.