List of the largest trading partners of Canada

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NAFTA leaders Canadian Prime Minister Stephen Harper, Mexican President Peña Nieto, and U.S. President Barack Obama, 2014

This is a list of the largest trading partners of Canada. Canada is considered to be a trading nation as its total trade is worth more than two-thirds of its GDP (the second highest level in the G7 after Germany).[1][2][3]

Historically, the issue of Canada's largest trade partners, and dependence on particular markets, has been a major political issue. At the time of Confederation in 1867, the United Kingdom was by far Canada's largest trading partner, reflecting the close historical, cultural, and institutional ties within the British Empire. Over time, more and more of Canada's trade was proportionally done with the United States. Various governments hoped to strengthen or reverse this trend, by changing tariff policy either to one of Imperial Preference with the British, Reciprocity with the National Policy of internal development. The 1891 and 1911 elections were fought partly over the issue of closer trade relationships with the British. Following the Civil War, the United States emerged as Canada's largest trading partner. By the time the United Kingdom joined the European Economic Community in 1973, the idea of the UK as an alternative to the USA as Canada's largest market was no longer viable. Canada and the United States signed the Free Trade Agreement in 1988 (which was expanded into [NAFTA] by the addition of Mexico in 1994). Since that time the United States has dominated Canadian trade by an overwhelming degree. After the Wars, trade with Asia began to expand, especially China. After the opening of Canada – People's Republic of China relations in 1970, trade with China has expanded rapidly.

The 20 largest trade partners of Canada

The 20 largest trade partners of Canada represent 94.0% of Canada's exports, and 91.9% of Canada's imports as of December 2014.[4] These figures do not include services or foreign direct investment. The largest partners of Canada with their total trade (sum of imports and exports) in millions of Canadian Dollars for calendar year 2014 are as follows:[5]

Rank rush Country Exports Imports Total Trade Trade Balance
1  United States 400,094 350,436 750,530 +49,657
-  European Union 40,495 49,297 89,792 -8,803
2  China 20,620 35,541 56,161 -14,922
3  Mexico 6,846 17,235 24,081 -10,389
4  United Kingdom 15,916 8,132 24,048 +7,785
5  Japan 11,093 9,184 20,276 +1,909
6  Germany 3,458 13,091 16,549 -9,633
7  South Korea 4,384 5,600 9,984 -1,217
8  Hong Kong 4,682 4,168 8,850 +515
9  Italy 4,049 4,721 8,770 -672
10  Netherlands 4,041 4,310 8,350 -269
11  France 3,499 4,366 7,865 -867
12  Belgium 3,672 3,144 6,815 +528
13   Switzerland 1,688 4,877 6,565 -3,189
14  India 3,385 2,392 5,777 +993
15  Brazil 2,281 2,839 5,121 -558
16  Taiwan 1,493 2,803 4,296 -1,311
17  Norway 2,380 1,831 4,212 +549
18  Peru 841 2,811 3,652 -1,970
19  Saudi Arabia 1,478 2,069 3,547 -592
20  Spain 1,143 2,194 3,337 -1,051
- Remaining Countries 31,911 42,212 74,123 -10,297

References

  1. ↑ http://www.investinontario.com/siteselector/coca_401.asp
  2. ↑ http=book_result&ct=result&resnum=2&ved=0CBoQ6AEwAQ#v=onepage&q&f=false
  3. ↑ http://stats.oecd.org/Index.aspx?DataSetCode=TRADEINDMACRO
  4. ↑ http://www.statcan.gc.ca/tables-tableaux/sum-som/l01/cst01/gblec02a-eng.htm
  5. ↑ Imports, exports and trade balance of goods on a balance-of-payments basis, by country or country grouping
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