Canadian Energy Sector Overview
Primary Energy Production by Source
Source: Natural Resources Canada, Energy and the Economy, Canadian Energy Production, 2020
International Trade of Energy
International trade of energy is a vital part of the Canadian economy. Canada traded energy with 158 countries in 2019.
Exports:
- $154.3 billion in 2021
- 32% of total Canadian goods exports in 2021
- Oil and gas domestic exports totalled $140 billion, of which 96% were to the U.S
- Canada exported energy products to 142 countries in 2021. The U.S. accounts for 91% of energy exports by value ($139.8 billion).
Imports:
- $42.6 billion in 2021
- 14% of total Canadian goods imports in 2021
- Canada imported energy products from 114 countries in 2021. The U.S. accounts for 73% of energy imports by value ($31 billion)
Source: Natural Resources Canada, Energy and the Economy, Trade, 2021
International Direct Investment in Canada and Abroad
Canadian Energy Assets
The total value of Canadian* energy assets (CEA) was $695 billion in 2020. The value decreased from 2019. Domestic CEA also declined year over year between 2019 and 2020, as did CEA abroad.
*A Canadian company is here defined as a publicly traded company headquartered in Canada and not foreign controlled.
Research, Development and Demonstration in Canadian Energy
The strong upward trend in government expenditures on energy R&D was interrupted by a slight decline in 2019-20, but partially recovered in 2020-21. Federal spending maintained its earlier trajectory, as did provincial and territorial spending for the most part.
The peak spending by provinces and territories on Carbon Capture Utilization and Storage (CCUS) was followed by significant curtailment in the following years.
Clean Energy Technology in Canada
The TSX and TSX-Venture exchanges list 94 companies in the cleantech sector, with a total market capitalization of $59.9 billion. This includes companies whose operations fall under:
- Energy Efficiency
- Low Impact Material and Products
- Renewable Energy Equipment Manufacturing and Technology
- Renewable Energy Production and Distribution
- Waste Reduction and Water Management
Eighty-seven of those companies are headquartered in Canada.
Investment in Renewable Energy by Technology in Canada
