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.
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.[ clarification needed ] 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 [update] . [4] These figures do not include services or foreign direct investment.
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 |
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% |
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 | 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% |
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