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Foreign trade figures of Canada

Foreign Trade in Figures

Canada is a country open to foreign trade, which represents 61% of its GDP (World Bank, latest data available). Product-wise, Canada’s main exports are petroleum products (16.3%), motor cars and other vehicles (5.8%), gold (3%), and petroleum gas (3%). The country imports mainly vehicles (8.7%), auto parts or accessories (2.9%), petroleum oils (2.7%), and telephones (2.4% - Comtrade 2021).

The main destinations for Canada’s exports in 2021 were the U.S. (by far the leading partner, accounting for 75.5% of total exports), China (4.5%), the United Kingdom (2.6%), and Japan (2.3%). Similarly, almost half of Canada’s imports had a U.S. origin (48.5%), followed by China (14%), Mexico (5.5%), Germany (3.1%) and Japan (2.5% - Comtrade).

Canada’s merchandise trade posted historical growth in 2021 as exports increased by 20.8% compared to one year earlier to reach CAD 631 billion in value, 6.6% more than the pre-pandemic record high in 2019; whereas imports rose 13% to CAD 614 billion, also a new record high (official governmental figures). Most of the growth in exports in 2021 was due to strengthened commodity prices: in real terms, Canadian exports and imports were up by 1.2% and 9.2% from 2020, respectively. Exports improved in every product sector except for motor vehicles and parts, with growth mainly driven by exports of energy, forestry, and metal and non-metallic mineral products. For imports, significant contributions from metal and non-metallic mineral products, basic and industrial chemical, plastic and rubber products, and consumer goods. Trade with the U.S. and Mexico improved consistently, also due to the USMCA (Canada-United States-Mexico Agreement, an updated version of NAFTA). Concerning services, exports totalled CAD 139.4 billion in 2021, a 4.5% increase from 2020. Meanwhile, imports amounted to CAD 145.2 billion, up by 1.7% year-on-year. After being in deficit since 2009, the World Bank estimated the country’s trade surplus at 0.1% of GDP in 2021. Lastly, it has to be noted that in recent years Canada benefited from the effects of the Comprehensive Economic and Trade Agreement (CETA) with the European Union, which entered into force provisionally (it will take full effect once all EU Member States have formally ratified it) eliminating 98% of the tariffs.

 
Foreign Trade Values 20172018201920202021
Imports of Goods (million USD) 443,169470,466463,786414,165504,017
Exports of Goods (million USD) 420,784450,743446,585390,599507,615
Imports of Services (million USD) 106,885119,605120,04390,175104,903
Exports of Services (million USD) 86,776102,243103,69884,434103,790

Source: World Trade Organisation (WTO) ; Latest available data

Foreign Trade Indicators 20172018201920202021
Foreign Trade (in % of GDP) 65.166.465.460.861.4
Trade Balance (million USD) -19,083-16,838-13,875-29,6653,586
Trade Balance (Including Service) (million USD) -36,238-33,733-27,407-33,7381,889
Imports of Goods and Services (Annual % Change) 4.63.40.4-10.97.7
Exports of Goods and Services (Annual % Change) 1.43.71.3-8.71.4
Imports of Goods and Services (in % of GDP) 33.634.233.531.430.6
Exports of Goods and Services (in % of GDP) 31.532.331.929.430.7

Source: World Bank ; Latest available data

Foreign Trade Forecasts 20222023 (e)2024 (e)2025 (e)2026 (e)
Volume of exports of goods and services (Annual % change) 2.63.21.72.73.4
Volume of imports of goods and services (Annual % change) 7.3-1.61.93.64.0

Source: IMF, World Economic Outlook ; Latest available data

Note: (e) Estimated Data

 
International Economic Cooperation
Canada is a member of the following international economic organisations: North American Competitiveness Council (NACC), OECD, Organization of American States (OAS), Asia-Pacific Economic Cooperation (APEC), Commonwealth, G-7, G-8, G-10, G-20, among others. For the full list of economic and other international organisations in which participates Canada click here. International organisation membership of Canada is also outlined here.
Free Trade Agreements
The complete and up-to-date list of Free Trade Agreements signed by Canada can be consulted here.
 

Main Partner Countries

Main Customers
(% of Exports)
2022
United States 76.9%
China 3.7%
United Kingdom 2.4%
Japan 2.3%
Mexico 1.2%
See More Countries 13.5%
Main Suppliers
(% of Imports)
2022
United States 49.2%
China 13.5%
Mexico 5.5%
Germany 3.0%
Japan 2.3%
See More Countries 26.5%

Source: Comtrade, 2023. Because of rounding, the sum of the percentages may be smaller/greater than 100%.

 
 

Main Products

596.1 bn USD of products exported in 2022
Petroleum oils and oils obtained from bituminous...Petroleum oils and oils obtained from bituminous minerals, crude 20.1%
Motor cars and other motor vehicles principally...Motor cars and other motor vehicles principally designed for the transport of persons, incl. station wagons and racing cars (excl. motor vehicles of heading 8702) 4.9%
Petroleum gas and other gaseous hydrocarbonsPetroleum gas and other gaseous hydrocarbons 4.1%
Petroleum oils and oils obtained from bituminous...Petroleum oils and oils obtained from bituminous minerals (excl. crude); preparations containing >= 70% by weight of petroleum oils or of oils obtained from bituminous minerals, these oils being the basic constituents of the preparations, n.e.s.; waste oils containing mainly petroleum or bituminous minerals 2.9%
Gold, incl. gold plated with platinum, unwrought...Gold, incl. gold plated with platinum, unwrought or not further worked than semi-manufactured or in powder form 2.5%
See More Products 65.5%
569.5 bn USD of products imported in 2022
Motor cars and other motor vehicles principally...Motor cars and other motor vehicles principally designed for the transport of persons, incl. station wagons and racing cars (excl. motor vehicles of heading 8702) 5.7%
Petroleum oils and oils obtained from bituminous...Petroleum oils and oils obtained from bituminous minerals (excl. crude); preparations containing >= 70% by weight of petroleum oils or of oils obtained from bituminous minerals, these oils being the basic constituents of the preparations, n.e.s.; waste oils containing mainly petroleum or bituminous minerals 3.6%
Motor vehicles for the transport of goods, incl....Motor vehicles for the transport of goods, incl. chassis with engine and cab 3.3%
Parts and accessories for tractors, motor vehicles...Parts and accessories for tractors, motor vehicles for the transport of ten or more persons, motor cars and other motor vehicles principally designed for the transport of persons, motor vehicles for the transport of goods and special purpose motor vehicles of heading 8701 to 8705, n.e.s. 3.0%
Petroleum oils and oils obtained from bituminous...Petroleum oils and oils obtained from bituminous minerals, crude 2.9%
See More Products 81.6%

Source: Comtrade, 2023. Because of rounding, the sum of the percentages may be smaller/greater than 100%.

 
 

To go further, check out our service Import Export Flows.

 

Main Services

Source: United Nations Statistics Division, 2023. Because of rounding, the sum of the percentages may be smaller/greater than 100%.

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Latest Update: September 2023

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