Canada\’s trade with Russia has plummeted since the invasion of Ukraine a year ago. Ottawa has imposed economic measures that bar the export of a range of items, including forklifts, barbers\’ chairs and aircraft. Industry Canada data shows that imports from Russia fell 78% in the first 10 months of 2022, while exports dropped 91% over the same period. Despite the restrictions, certain sectors have emerged largely unscathed. Canadian companies can only export certain items if they secure a waiver, and the process is increasingly political. With Russia now standing as Canada\’s 53rd most valuable trading partner, the negative trend is expected to continue in the coming year.
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