{"id":1695,"date":"2022-08-03T04:12:12","date_gmt":"2022-08-03T04:12:12","guid":{"rendered":"https:\/\/www.rbc.com\/en\/economics\/2022\/08\/03\/proof-point-reshoring-hasnt-spurred-a-canadian-manufacturing-renaissance\/"},"modified":"2025-03-26T04:54:43","modified_gmt":"2025-03-26T04:54:43","slug":"proof-point-reshoring-hasnt-spurred-a-canadian-manufacturing-renaissance","status":"publish","type":"post","link":"https:\/\/www.rbc.com\/en\/economics\/canadian-analysis\/featured-analysis\/insights\/proof-point-reshoring-hasnt-spurred-a-canadian-manufacturing-renaissance\/","title":{"rendered":"<b>Proof Point:<\/b> Reshoring hasn&#8217;t spurred a Canadian manufacturing renaissance"},"content":{"rendered":"<ul class=\"disc pad-l\">\n<li>Though pandemic disruptions prompted widespread calls for reshoring, there\u2019s little evidence of supply chains returning to Canadian soil.<\/li>\n<li>Factory construction in Canada fell to a decade low last year and manufacturing employment is close to flat amid labour shortages.  <\/li>\n<li>Domestic production is only winning out over imports in areas where Canada was already an important player. <\/li>\n<li>But Canadian manufacturers are taking other actions to boost supply chain resiliency by diversifying suppliers and holding more inventory.<\/li>\n<li><b>The bottom line:<\/b> While the government is targeting domestic production in certain sectors, there\u2019s limited evidence of a broader reshoring push delivering a Canadian manufacturing renaissance.  <\/li>\n<\/ul>\n<hr>\n<h4>The pandemic sparked calls to bring production home<\/h4>\n<p>COVID-19 shocked global supply chains, prompting manufacturers to pivot production to medical equipment, and governments to scour global markets for life-saving vaccines, PPE and other goods that couldn\u2019t be made at home. At the same time these shortages were exposing the lack of domestic production capacity for critical goods, factory closures, input shortages and logistical bottlenecks were revealing the fragility of global production networks. Together, these forces kickstarted a wave of enthusiasm around \u201creshoring\u201d or undoing decades of outsourcing in order to revitalize domestic manufacturing and insulate economies from future shocks.<\/p>\n<p>As we wrote last year in our <a href=\"https:\/\/thoughtleadership.rbc.com\/trading-places-canadas-place-in-a-changing-global-economy\/\">Trading Places<\/a> report, governments are engaging in activist industrial policies to build new domestic and regional supply chains in an effort to limit reliance on rivals. But bringing existing offshore production home and unwinding complex supply chains is another matter. And more than two years into the pandemic, there\u2019s little evidence it\u2019s happening. <\/p>\n<p>Canada\u2019s industrial policies include government support for domestic vaccine production and for retooling existing auto facilities to make electric vehicles. But beyond this, there\u2019s not much to suggest a broader manufacturing resurgence is underway. <\/p>\n<p>For one thing, employment in the sector isn\u2019t exactly booming. In fact, it\u2019s little changed from its pre-pandemic level, or the average seen over the past decade. Actual labour demand appears to have strengthened with a record 90,000 job openings in manufacturing. But that begs the question, how can Canadian businesses reshore production if they can\u2019t fill vacancies? Labour shortages could be a key barrier to reshoring. Automation might be the answer, though Canada is a <a href=\"https:\/\/www.rbc.com\/en\/economics\/wp-content\/uploads\/sites\/4\/2024\/11\/Executive_Summary_WR_Industrial_Robots_2021.pdf\">laggard<\/a> when it comes to installing industrial robots. Manufacturers\u2019 machinery and equipment investment intentions rose in 2022 but investment in factory construction fell to a decade low last year when adjusted for inflation. <\/p>\n<p><img loading=\"lazy\" decoding=\"async\" src=\"https:\/\/www.rbc.com\/en\/economics\/wp-content\/uploads\/sites\/23\/2025\/03\/proof-point-issue-9-Chart-1-1200.png\" alt=\"\" width=\"1200\" height=\"787\" class=\"alignnone size-full wp-image-38711\" \/><\/p>\n<h4>But there are few signs of production returning to Canadian soil<\/h4>\n<p>There was a relative increase in domestic manufacturing compared to manufactured imports in 2021 and again in early 2022\u2014perhaps providing some evidence of domestic industry winning out over foreign production. But digging into the details, the only industries that saw a notable increase in domestic manufacturing were those in which Canada already had an edge, producing significantly more than it imported. <\/p>\n<p>Production increased most in sectors like wood product manufacturing, petroleum and coal products, and food manufacturing\u2014none of which rely significantly on imports to begin with. Industries dominated by foreign goods, like computer and electronic and electrical equipment manufacturing didn\u2019t see any increase in production relative to imports. <\/p>\n<p>If reshoring is about bringing back offshored production\u2014not simply leveraging a country\u2019s comparative advantage and increasing production that was always here\u2014this has yet to occur in a significant way.<\/p>\n<p><img loading=\"lazy\" decoding=\"async\" src=\"https:\/\/www.rbc.com\/en\/economics\/wp-content\/uploads\/sites\/23\/2025\/03\/proof-point-issue-9-Chart-2-1200.png\" alt=\"\" width=\"1200\" height=\"707\" class=\"alignnone size-full wp-image-38712\" \/><\/p>\n<h4>Canadian supply chains are longer and more global than ever<\/h4>\n<p>Perhaps this shouldn\u2019t be surprising. After all, when manufacturers facing supply chain issues were asked how they planned to respond, relocating supply chain activities to Canada was last on their list. In fact, slightly more said they planned to relocate supply chain activities outside of Canada. In lieu of reshoring, firms plan to work with suppliers to improve delivery times, partner with new suppliers or substitute with alternatives. Indeed, Canada continued to diversify its imports in 2021, reducing its reliance on any single trading partner.<\/p>\n<p>If firms aren\u2019t relocating supply chain activities to Canada, are they at least \u201cnear-shoring\u201d or bringing them closer to home? This doesn\u2019t appear to be the case. In fact, Canada\u2019s imports are coming from further afield than ever before (based on the geodesic distance between Canada and its trading partners). Over the course of the pandemic, several Asian countries, most significantly China, increased their share of Canada\u2019s import market at the expense of countries like the US, Mexico and the EU.<\/p>\n<p>Finally, it\u2019s worth noting that reshoring could be a two-way street, with domestic jobs and investment potentially exposed to other countries\u2019 efforts to bring production home. Canadian manufacturing relies on foreign capital\u2014FDI in the sector is 1.7 times Canadian direct investment abroad. More than one in three manufacturing employees work for a foreign multinational, nearly three times the rate of the broader Canadian economy. And for every foreign worker employed by a Canadian manufacturer abroad, 1.2 Canadians are employed domestically by a foreign multinational. <\/p>\n<p>Given this, a broader reshoring push might not be a good thing for Canadian manufacturing. On the contrary, the sector might be better served by other efforts to improve supply chain resilience, which already appear to be underway. While government policies might support domestic production in a few strategic areas, few businesses seem to see reshoring as the answer to supply chain issues.<\/p>\n<p><img loading=\"lazy\" decoding=\"async\" src=\"https:\/\/www.rbc.com\/en\/economics\/wp-content\/uploads\/sites\/23\/2025\/03\/proof-point-issue-9-Chart-3-1200.png\" alt=\"\" width=\"1200\" height=\"707\" class=\"alignnone size-full wp-image-38713\" \/><\/p>\n<p>\u00a0<\/p>\n<hr>\n<p><em><b>Josh Nye <\/b>is a senior economist at RBC. His focus is on macroeconomic outlook and monetary policy in Canada and the United States. His comments on economic data and policy developments provide valuable insights to clients and colleagues, and are often featured in the media.<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Though pandemic disruptions prompted widespread calls for reshoring, there\u2019s little evidence of supply chains returning to Canadian soil.<\/p>\n","protected":false},"author":268,"featured_media":1678,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"advgb_blocks_editor_width":"","advgb_blocks_columns_visual_guide":"","footnotes":""},"categories":[83,82,84],"tags":[11,67],"rbc_econ_content_type":[],"class_list":["post-1695","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-canadian-analysis","category-featured-analysis","category-insights","tag-economy","tag-proof-point"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.4 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