List of the largest trading partners of Canada

Canada maintains extensive trade relations with numerous countries around the world as a trading nation,[1][2][3] although its largest trading partners are primarily concentrated in North America, Europe, and Asia. These economic relationships are measured by the total value of goods and services exchanged.

History

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 and 1911 elections were fought partly over the issue of closer trade relationships with the British. Following their 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 represent 94.0% of Canada's exports, and 91.9% of Canada's imports as of December 2016.[4] These figures do not include services or foreign direct investment.

Largest trade partners by total trade

The following table shows Canada's largest trading partners for the 2024 calendar year, ranked by total goods trade (exports plus imports) in billions of Canadian dollars. These figures include goods only and exclude services and foreign direct investment.[5]

Rank Territory Exports ($ billions) Imports ($ billions) Total trade ($ billions) Total trade(%) Trade balance ($ billions)
- World 720.1 765.7 1,485.8 100% -45.6
1  United States 547.4 377.0 924.4 62.22% +170.4
- Indo-Pacific 75.5 183.0 258.5 17.40% -107.5
- Europe and Central Asia 68.8 109.3 178.1 11.99% -40.5
2  China 29.3 88.8 118.1 7.95% -59.5
-  European Union[6] 34.5 73.6 108.1 7.27% -39.1
- Latin America and the Caribbean 18.6 76.4 95.0 6.40% -57.8
3  Mexico 8.1 47.3 55.4 3.73% -39.2
4  United Kingdom 27.0 9.8 36.8 2.48% +17.2
5  Japan 14.8 21.4 36.2 2.48% -6.6
6  Germany 5.7 23.8 29.5 1.99% -18.1
7  South Korea 7.5 16.9 24.4 1.64% -4.5
8  Vietnam 1.0 14.7 15.7 1.06% -1.5
9  Italy 3.1 12.5 15.6 1.05% -9.4
- Africa 5.4 9.5 14.9 1.00% -4.5
10   Switzerland 6.1 8.1 14.2 0.96% -2.0
- Middle East 5.4 4.9 10.3 0.69% +0.5

Largest export partners

The following table shows Canada's largest export partners for the 2024 calendar year, ranked by total goods exported in billions of Canadian dollars. These figures include goods only and exclude services and foreign direct investment.[5]

Rank Territory Exports ($ billions) Total export (%)
- World 720.1 100%
1  United States 547.4 76.02%
- Indo-Pacific 75.5 10.48%
- Europe and Central Asia 68.8 9.55%
-  European Union[6] 34.5 4.79%
2  China 29.3 4.07%
3  United Kingdom 27.0 3.75%
- Latin America and the Caribbean 18.6 2.58%
4  Japan 14.8 2.06%
5  Mexico 8.1 1.25%
6  South Korea 7.5 1.04%
7  Netherlands 6.3 0.87%
8   Switzerland 6.1 0.85%
9  Germany 5.7 0.79%
- Africa 5.4 0.75%
- Middle East 5.4 0.75%
10  India 5.1 0.70%

Largest import partners

The following table shows Canada's largest import partners for the 2024 calendar year, ranked by total goods exported in billions of Canadian dollars. These figures include goods only and exclude services and foreign direct investment.[5]

Rank Territory Imports ($ billions) Total import (%)
- World 765.7 100%
1  United States 377.0 49.24%
- Indo-Pacific 183.0 23.90%
- Europe and Central Asia 109.3 14.27%
2  China 88.8 11.60%
- Latin America and the Caribbean 76.4 9.98%
-  European Union[6] 73.6 9.61%
3  Mexico 47.3 6.18%
4  Germany 23.8 3.11%
5  Japan 21.4 2.79%
6  South Korea 16.9 2.21%
7  Vietnam 14.7 1.92%
8  Italy 12.5 1.63%
9  Brazil 10.2 1.33%
10  France 9.9 1.29%
- Africa 9.5 1.24%
- Middle East 4.9 0.64%

See also

References

  1. ^ "Canada is a Trading Nation - Canada's Major Trading Partners". Archived from the original on 2010-09-12. Retrieved 2012-06-12.
  2. ^ http=book_result&ct=result&resnum=2&ved=0CBoQ6AEwAQ#v=onepage&q&f=false
  3. ^ "OECD Statistics".
  4. ^ "International merchandise trade for all countries and by Principal Trading Partners, monthly". 18 November 2014.
  5. ^ a b c "Highlights of Canada's merchandise trade performance - 2024 update". international.canada.ca. Government of Canada. May 2025. Retrieved 21 September 2025.
  6. ^ a b c "Canada Trade Balance, December and Annual 2024". www.novascotia.ca. Province of Nova Scotia. 2025. Retrieved 21 September 2025.
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