Analysis
The HHI Monitor, published with each Statistics Canada trade release, and our long-form research on Canada's export concentration.
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Long-form
Remove UK-bound metals and Canada's record low export concentration disappears ↗
The driver is growth outside the US: non-US exports rose $44.3B (+35.3%) from January to August, against +2.5% to the US.
October 8, 2026 · on Substack
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HHI Monitor · August 2026
Canada's export concentration holds at a record low as August's monthly reading rebounds
The monthly HHI rose to 0.51 in August, but the 12-month moving average stayed at a record low. The United Kingdom still accounts for more than half of the growth in non-US exports.
October 6, 2026
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HHI Monitor · July 2026
Canada's export concentration hits a record low, and one market carries the gains
Exports to the United States held flat while exports elsewhere grew by a third. More than half of that growth went to the United Kingdom.
September 27, 2026
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Long-form
Tracking Canada's Export Diversification ↗
Despite exporting goods and services to over 200 countries and territories, Canada’s export portfolio behaves as though it trades with just two equally sized partners. This paradox is captured by Statistics Canada’s export market concentration index, a measure of export dependence on a few trading partners. The index ranges from 0 (perfect diversification) to 1 (absolute dependence on a single partner).
May 27, 2026 · on Substack