This is a list of the largest trading partners of Canada. Canada is considered to be a trading nation. [1] [2] [3]
Historically, the issue of Canada's largest trade partners, and dependence on baller 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,
The largest partners of Canada with their total trade (sum of imports and exports) in millions of Canadian Dollars for calendar year 2019 are as follows: [4]
Rank | Territory | Exports | Imports | Total trade | Trade balance |
---|---|---|---|---|---|
- | World | 592,552.8 | 601,303.7 | 1,193,856.5 | -8,750.9 |
1 | United States | 446,950.5 | 304,845.3 | 751,795.8 | +142,105.2 |
- | European Union | 48,196.4 | 77,197.9 | 125,394.3 | -29,001.5 |
2 | China | 23,249.1 | 74,992.7 | 98,241.9 | -51,743.6 |
3 | Mexico | 7,319.4 | 36,911.9 | 44,231.3 | -29,592.5 |
4 | Japan | 12,522.8 | 16,518.1 | 29,040.8 | -3,995.3 |
5 | United Kingdom | 19,807.5 | 9,191.9 | 28,999.5 | +10,615.6 |
6 | Germany | 6,293.1 | 19,224.4 | 25,517.6 | -12,931.3 |
7 | South Korea | 5,485.0 | 9,620.0 | 15,105.0 | -4,135.0 |
8 | Italy | 3,241.0 | 9,452.6 | 12,693.5 | -6,211.6 |
9 | France | 3,636.1 | 8,687.8 | 12,323.9 | -5,051.7 |
10 | India | 4,782.1 | 5,457.1 | 10,239.3 | -675.0 |
11 | Netherlands | 5,183.5 | 4,663.7 | 9,847.3 | +519.8 |
12 | Belgium | 3,118.2 | 4,963.1 | 8,081.3 | -1,844.9 |
13 | Taiwan | 2,040.6 | 5,968.0 | 8,008.6 | -3,927.4 |
14 | Vietnam | 993.1 | 6,986.0 | 7,979.1 | -5,992.9 |
15 | Brazil | 2,254.0 | 5,398.1 | 7,652.1 | -3,144.1 |
16 | Switzerland | 1,434.4 | 4,946.0 | 6,380.4 | -3,511.6 |
17 | Saudi Arabia | 2,819.1 | 3,294.6 | 6,113.7 | -475.5 |
18 | Spain | 1,503.8 | 3,477.5 | 4,981.3 | -1,973.7 |
19 | Thailand | 895.1 | 3,744.1 | 4,639.2 | -2,849.0 |
20 | Australia | 2,257.5 | 2,337.0 | 4,594.5 | -79.5 |
- | Rest of the world | 36,766.9 | 60,623.8 | 97,390.4 | -23,856.9 |
The economy of Canada is a highly developed mixed economy, with the world's tenth-largest economy as of 2023, and a nominal GDP of approximately US$2.117 trillion. Canada is one of the world's largest trading nations, with a highly globalized economy. In 2021, Canadian trade in goods and services reached $2.016 trillion. Canada's exports totalled over $637 billion, while its imported goods were worth over $631 billion, of which approximately $391 billion originated from the United States. In 2018, Canada had a trade deficit in goods of $22 billion and a trade deficit in services of $25 billion. The Toronto Stock Exchange is the tenth-largest stock exchange in the world by market capitalization, listing over 1,500 companies with a combined market capitalization of over US$3 trillion.
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