Focus on Canada and the United States: Trade

National balance sheet and financial flow accounts, fourth quarter 2024

The Daily

Canada is a nation rich in natural resources. Canadian exports of minerals, energy and timber represent a key contributor to the Canadian economy and the economic activity of other countries who benefit from this trade, including the United States. In 2024, data on Canadian international merchandise trade showed that selected domestic exports of minerals, energy and timber products accounted for over $300 billion, with nearly three-quarters of this destined for the United States (on a customs basis).

Analytical product

Control and sale of alcoholic beverages and cannabis, April 1, 2023 to March 31, 2024

The Daily

In 2023/2024, Canada imported $1.1 billion of alcoholic beverages from the United States. During the same period, Canada exported $1.3 billion of alcoholic beverages to the United States.

Analytical product

Table 12-10-0129-01 - Canadian domestic export concentration

Data table

The United States has long been the destination for the majority of Canada's exports of goods. Statistics Canada provides statistics on the concentration of Canada's domestically-produced exports among destination markets, and also among products and provinces of production. Analyzing exports through this lens provides additional insights on the exposure of domestic producers to external risk.

Data product

Canadian international merchandise trade, January 2025

The Daily

In 2024, Canada's merchandise exports to the United States on a customs basis totalled $596.2 billion. Customs-basis imports from the United States, allocated by country of export, totalled $471.3 billion, resulting in net exports of +$124.9 billion. The product category with the largest positive net export value by far was energy products (+$143.7 billion). Excluding energy products, Canada's net export value becomes negative (-$18.8 billion).

Analytical product

Perspectives on country attribution in Canadian international merchandise trade statistics

The Daily

Analyzing partner countries from different perspectives is possible with customs basis merchandise trade data, and can provide a more complete understanding of Canada's trade relationships with these partners, including the United States. New data tables introduced today offer the flexibility to examine country attribution from different perspectives in Canada's merchandise import and export statistics.

Analytical product

Table 12-10-0011-01 - International merchandise trade for all countries and by Principal Trading Partners, monthly

Data table

International merchandise trade data (exports, imports and trade balance) grouped by Principal Trading Partners, including the United States.

Data product

Table 12-10-0099-01 - Merchandise imports and exports, customs-based, by Harmonized commodity description and coding system (HS) section, Canada, provinces and territories, United States, states

Data table

Merchandise trade data with the United States, by Canadian province and US State

Data product

Gross domestic product by industry, December 2024

The Daily

The United States continued to be the largest international supplier of goods and services to Canadian businesses in 2022, the most recent year for which data from the supply and use tables and the value-added in exports database are available. Imports from the United States accounted for 15.4% of all intermediate inputs (current purchases of goods and services) for Canadian industries.

Analytical product

Gross domestic product, income and expenditure, fourth quarter 2024

The Daily

In 2021, 13.3% of total household final consumption expenditures in Canada were dependent on imports from the United States.

Analytical product

Canada's balance of international payments, fourth quarter 2024

The Daily

Canada posted a current account deficit of $15.6 billion in 2024 with the rest of the world. On a geographical basis, the current account balance with the United States stood at a surplus of $91.6 billion in 2024 compared with a deficit of $107.2 billion with all other countries.

Analytical product

Monthly Survey of Manufacturing, December 2024

The Daily

The United States is important for Canadian manufactured products, serving as Canada's largest export market. In 2024, Canadian manufacturers sold about half of their products to foreign customers, with roughly 80% of those exports going to the United States.

Analytical product

Canadian international merchandise trade, December 2024

The Daily

In 2024, the combined value of Canada's imports and exports of goods traded with the United States surpassed the $1 trillion mark for a third consecutive year. In 2024, the United States was the destination for 75.9% of Canada's total exports, and was the source of 62.2% of Canada's total imports.

Analytical product

Canada's international trade and investment country fact sheet

Interactive tool

Overview of Canada's economic and financial activity with the United States in a practical and concise format.

Data visualization

Gross domestic product by industry, November 2024

The Daily

Total exports accounted for 25.2% of Canadian gross domestic product (GDP) and more than 3.6 million jobs in 2022, the latest year for which value-added in exports data are available. The United States continued to dominate the export market, with exports to the US accounting for 17.8% of Canadian GDP and more than 2.4 million jobs in Canada.

Analytical product

Understanding the Canadian international merchandise trade balance

Conceptual note

Understand Canada's trade balance and asymmetries in bilateral trade data published by Canada and the United States.

Reference

Table 36-10-0007-01 - International transactions in services, by selected countries

Data table

Annual data on Canada's international trade in services are available for a list of countries and regions, including the United States. Services are further broken down between commercial services, travel services, and transport and government services.

Data product

Table 12-10-0100-01 - Value added in exports, by industry, provincial and territorial

Data table

The value added in exports database shows the exports and imports of industries, as well as the direct and indirect impacts of each industry’s production for exports, including exports to the United States, on total value-added, jobs, and imports.

Data product