Canada International Trade
Canada Trade Partners 2022 and Composition in 21st Century

Canada's international trade increased from $483B in 2001 to $1,165B in 2022. In 2022, the share of the Americas, Asia, and Europe in Canada's trade was 69%, 19%, and 11%, respectively.
Canada's trade is mostly dependent on the United States, with a share of 63% of total trade, 77% of exports, and 49% of imports in 2022. The North American Free Trade Agreement (NAFTA), which has been in place since 1994, was replaced by the U.S.-Mexico-Canada Agreement (USMCA) on July 1, 2020. These agreements have eased and facilitated trade among Canada, the U.S., and Mexico.
China is Canada's second-largest trade partner, accounting for a share of 8.5%, and Mexico is the third partner with a share of 3.3% in 2022. 

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Canada's exports rely mostly on energy, energy-intensive, and resource-based products, including fuels, minerals, chemicals, metals, agriculture, wood, and their products. These products have been responsible for Canada's export growth over the last two decades. In 2022, Canada exported $180B worth of mineral fuels and products, accounting for 30% of its total exports, of which more than 90% were exported to the U.S.

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In 2022, more than half of Canada's imports consisted of mechanical and electrical machinery, transportation equipment, and consumer goods. Mechanical and electrical machinery and transportation equipment, accounted for 42% of Canada’s imports in 2022.

 

Canada has a trade surplus for fuels, minerals, wood, agriculture, and food and their products, but has a trade deficit for mechanical and electrical machinery, chemicals and plastics, transport equipment, textiles, clothing, and footwear.

 

Canada's trade with the United States creates a significant trade surplus for economy of Canada, amounting to $181B in 2022. Meanwhile, Canada faced a trade deficit of $152B with the rest of the world. Crude oil and natural gas accounted for around 70% of Canada's trade surplus with the U.S.