Canada’s Top Trading Partners
Canada’s top trading partners in 2024 include the United States, China, Japan, the UK, Mexico, the Netherlands, Switzerland, India, Germany, and South Korea.
Located in North America, Canada is the:
- 2nd largest economy in North America
- 9th largest economy worldwide
- 10th largest exporter & 13th largest importer of goods
Canada borders the United States by land, Greenland, and Saint Pierre and Miquelon by sea.
In 2024, Canada sent approximately $569 billion worth of goods to its top trading partners.
From a continental perspective, 78% of Canadian goods exported went to fellow North American countries and 11% to Asian buyers. Furthermore, It shipped another 9% of its exports to its key trading partners in Europe.
Since Canada has about 41.5 million people, $569 billion in exports in 2024 is roughly $13,711 for everyone in the country.
Canada’s Top Exports 2024
The following export product groups represent the highest dollar value in Canadian global exports in 2023.
- Crude oil ($145 billion): Canada is a leading global exporter of crude oil to the United States.
- Vehicles ($58.0 billion): Exports passenger vehicles and parts, with Ontario being a hub for automotive manufacturing.
- Machinery ($41 billion): Significant exporter of industrial and agricultural machinery.
- Precious metals ($34 billion): Exporter of gold, silver, platinum group metals (PGMs), and copper.
- Commodities ($21.4 billion): Exporter of various commodities such as energy (coal, gas, & refined products), base metals (zinc & nickel), and agricultural commodities (grains, canola oil, oil seeds, meat & diary).
- Electrical Machinery and Equipment ($17.4 billion): Includes electronic components and telecommunications equipment.
- Plastics ($16 billion): Notable exporter of plastics and plastic products.
- Wood ($13.5 billion): Key exporter of lumber and wood Products.
- Aluminum ($12.8 billion): Exports aluminum to the United States and Japan.
Read: United Kingdom’s Top Trading Partners
Canada’s Main Industries
Machinery, oil & gas, minerals, vehicles, wood, chemicals, transportation equipment, and fish products.
Trade Organizations
- World Trade Organization: As a founding member, WTO ensures Canada’s access to global markets under transparent trade rules.
- North American Free Trade Agreement: Supports Canada’s trade relationship with the United States which accounts for over 75% of Canadian exports.
- Comprehensive Economic and Trade Agreement: Provides Canadian businesses with preferential access to 27 EU countries.
- Comprehensive and Progressive Agreement for Trans-Pacific Partnership: Strengthens Canada’s trade ties in the Asia-Pacific region.
- Organization for Economic Co-operation and Development: Helps shape global trade norms and policies beneficial to Canadian interests.
- Asia-Pacific Economic Cooperation: Enhances Canada’s trade presence in Asia-Pacific markets.
- Other Regional and Bilateral Agreements
- Canada-UK Trade Continuity Agreement: Maintains trade provisions similar to CETA post-Brexit.
- Canada-Korea Free Trade Agreement: Provides Canadian exporters with preferential access to South Korea’s markets.
- Canada-Chile Free Trade Agreement: One of Canada’s oldest free trade agreements, fostering trade with Chile.
- G7 and G20: Platforms for addressing global trade and economic challenges.
Canada’s Top 10 Trading Partners 2024
Below is a list of Canada’s top trading partners. These countries imported the most Canadian shipments by dollar value in 2024.
- The United States ($435 billion): Accounts for about 70% of Canada’s total exports. Major exports include crude oil, vehicles, machinery, and minerals.
- China ($21.7 billion): Key exports include agricultural products (canola, soybeans), wood pulp, and metals.
- United Kingdom ($20.7 billion): Exports focus on gold, minerals, and energy products.
- Japan ($11 billion): Significant exports include coal, agricultural products, and seafood.
- Mexico ($6.3 billion): Vehicles, machinery, and agricultural products dominate exports
- South Korea ($5.6 billion): Key exports are coal, seafood, and agricultural goods.
- Netherlands ($5.1 billion): Agricultural products and energy resources dominate trade.
- Germany ($4.9 billion): Exports include machinery, vehicles, and pharmaceuticals.
- Switzerland ($4.6 billion): Gold, electronics, and machinery.
- India ($3.9 billion): Focused on agricultural products, potash, and energy goods.
Companies Servicing Canada’s Top Trading Partners
- Barrick Gold (diversified metals, mining)
- Bombardier Inc (aerospace, transit vehicles)
- Canadian Natural Resources (oil, gas)
- Cameco (uranium)
- Cenovus Energy (oil, gas)
- Enbridge (oil services, equipment)
- Imperial Oil (Oil)
- Magna International (auto parts, accessories)
- Nutrien (chemicals & agriculture)
- Saputo (dairy products)
- Suncor Energy (oil, gas)
- Teck Resources (diversified metals)
