Notable Trade and Investment Agreements
Notable trade and investment agreements between Canada and European Union countries:
- Canada–European Union Comprehensive Economic and Trade Agreement (signed in 2016, with parts of the agreement provisionally applied)
- Canada–Poland Foreign Investment Promotion and Protection Agreement (1990)
- Canada–Hungary Foreign Investment Promotion and Protection Agreement (1993)
- Canada–Croatia Foreign Investment Promotion and Protection Agreement (2001)
- Canada–Latvia Foreign Investment Promotion and Protection Agreement (2011)
- Canada–Romania Foreign Investment Promotion and Protection Agreement (2011)
- Canada–Czech Republic Foreign Investment Promotion and Protection Agreement (2012)
- Canada–Slovak Republic Foreign Investment Promotion and Protection Agreement (2012)
Fundamentals
The Series
The Library of Parliament's Trade and Investment series:
- provides information on Canada's trade and investment relationship with selected countries and regions; and
- describes the trade relationship of each of Canada's 10 provinces and three territories with the world.
All dollar amounts are in Canadian dollars unless otherwise noted.
Numbers have been rounded.
Definitions are available.
Definitions appear at the end of the profile.
This Profile
Data on the United Kingdom, which withdrew from the European Union on 31 January 2020, are not included in this profile.
The merchandise trade data are customs-based; the services trade data and foreign direct investment data are balance of payments–based. Data on Canada's services trade relationship with Belgium are amalgamated with those of Luxembourg.
The five most highly valued merchandise export and import categories have been identified using values for 2022.
All figures were prepared using Statistics Canada data available in summer 2023.
For the data tables used to generate the figures, see the HTML version of this profile at Trade and Investment Series 2022.
Detailed economic and population data on European Union countries are provided at the end of this profile.
- To display precise values: Hover over data points, bars and segments.
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Simon Richards
Research and Education
Publication No. 2023-513-E
20 July 2023
Canada's Merchandise Trade with the European Union
Bilateral merchandise trade in 2022: $115.9 billion
- Exports: $36.0 billion, a 17.1% increase from 2021
- Imports: $79.9 billion, an 18.3% increase from 2021
Trade deficit in 2022: $43.8 billion, an increase from $36.7 billion in 2021
Exports in 2022: 4.6% of the total value of Canadian exports, a decrease from 4.9% in 2021
Imports in 2022: 10.8% of the total value of Canadian imports, a decrease from 11.0% in 2021
Highest-valued exporters in 2022:
- Ontario – $11.6 billion, an increase from $9.4 billion in 2021
- Quebec – $10.2 billion, an increase from $9.6 billion in 2021
Exports in 2022:
- Resource-based goods – 37.8%, an increase from 37.1% in 2021
- Manufactured goods – 62.2%, a decrease from 62.9% in 2021
Highest-valued exports in 2022: Iron ore and crude oil, together accounting for 15.3% of the total value of Canadian exports to the European Union
- Iron ore: $3.1 billion, a decrease from $3.5 billion in 2021
- Crude oil: $2.4 billion, an increase from $1.7 billion in 2021
Imports in 2022:
- Resource-based goods – 1.7%, an increase from 1.4% in 2021
- Manufactured goods – 98.3%, a decrease from 98.6% in 2021
Highest-valued imports in 2022: Medications and motor vehicles, together accounting for 15.1% of the total value of Canadian imports from the European Union
- Medications: $6.8 billion, an increase from $4.7 billion in 2021
- Motor vehicles: $5.3 billion, an increase from $4.2 billion in 2021
Largest merchandise trade deficit in 2022: Other manufactured goods, at $17.3 billion
Largest merchandise trade surplus in 2022: Metals, mines and energy, at $1.1 billion
Canada's Merchandise Trading Partners within the European Union
Destinations for merchandise exports to the European Union, by country, in 2022:
- Germany – 20.9%
- The Netherlands – 18.0%
- Belgium – 13.4%
- France – 10.9%
- Spain – 8.5%
- All other European Union countries – 28.3%
Destinations for merchandise exports to the European Union, by region, in 2022:
- EU-14 countries – 89.7%, a decrease from 90.7% in 2021
- EU-13 countries – 10.3%, an increase from 9.3% in 2021
Sources of merchandise imports from the European Union, by country, in 2022:
- Germany – 28.2%
- Italy – 15.2%
- France – 9.7%
- The Netherlands – 6.8%
- Belgium – 5.7%
- All other European Union countries – 34.5%
Sources of merchandise imports from the European Union, by region, in 2022:
- EU-14 countries – 90.4%, an increase from 90.3% in 2021
- EU-13 countries – 9.6%, a decrease from 9.7% in 2021
Canada’s Services Trade With the European Union
Bilateral services trade in 2022: $41.5 billion
- Exports: $19.0 billion, a 15.4% increase from 2021
- Imports: $22.5 billion, a 19.7% increase from 2021
Trade deficit in 2022: $3.5 billion, an increase from $2.4 billion in 2021
Services trade deficit in 2022: Largely due to transportation and government services trade
Travel services
- Exports: $3.0 billion
- Imports: $3.8 billion
Commercial services
- Exports: $13.2 billion
- Imports: $14.0 billion
Transportation and government services
- Exports: $2.8 billion
- Imports: $4.7 billion
Destinations for services exports to the European Union in 2021:
- France – 22.8%
- Germany – 18.5%
- Ireland – 15.7%
- The Netherlands – 11.5%
- Belgium and Luxembourg – 6.9%
- All other European Union countries – 24.6%
Sources of services imports from the European Union in 2021:
- Germany – 17.9%
- Ireland – 17.9%
- France – 14.8%
- The Netherlands – 10.5%
- Belgium and Luxembourg – 6.0%
- All other European Union countries – 33.0%
Canada’s Foreign Direct Investment With the European Union
Major destinations for Canadian foreign direct investment in the European Union in 2022:
- Luxembourg – $86.2 billion
- The Netherlands – $63.0 billion
- Hungary – $25.0 billion
Major European Union sources of foreign direct investment in Canada in 2022:
- The Netherlands – $154.9 billion
- Luxembourg – $69.9 billion
- Germany – $25.7 billion
Profile of the European Union
| Country | GDP at PPP (2022, US$) | GDP per Capita at PPP (2022, US$) | Population (2022) | International Merchandise Exports and Imports as a Percentage of GDP at Official Exchange Rates (2022) |
|---|---|---|---|---|
| Austria | 614.3 billion | 67,900 | 9.0 million | 94.2 |
| Belgium | 758.8 billion | 65,000 | 11.7 million | 216.6 |
| Bulgaria | 217.1 billion | 33,600 | 6.5 million | 122.3 |
| Croatia | 155.6 billion | 40,400 | 3.9 million | 98.1 |
| Cyprus | 45.4 billion | 49,900 | 1.3 million | 57.2 |
| Czechia | 525.7 billion | 49,900 | 10.5 million | 164.0 |
| Denmark | 436.9 billion | 74,000 | 5.9 million | 65.2 |
| Estonia | 62.8 billion | 46,700 | 1.3 million | 126.4 |
| Finland | 328.0 billion | 59,000 | 5.6 million | 65.0 |
| France | 3.8 trillion | 55,500 | 67.9 million | 51.6 |
| Germany | 5.3 trillion | 63,100 | 84.1 million | 79.2 |
| Greece | 389.2 billion | 36,800 | 10.6 million | 70.8 |
| Hungary | 405.8 billion | 41,900 | 9.7 million | 175.9 |
| Ireland | 645.6 billion | 126,900 | 5.1 million | 68.0 |
| Italy | 3.1 trillion | 51,900 | 58.9 million | 67.0 |
| Latvia | 75.3 billion | 40,000 | 1.9 million | 129.6 |
| Lithuania | 137.1 billion | 48,400 | 2.8 million | 144.0 |
| Luxembourg | 92.5 billion | 142,200 | 650,800 | 53.3 |
| Malta | 29.3 billion | 55,900 | 523,400 | 64.8 |
| The Netherlands | 1.2 trillion | 69,600 | 17.7 million | 188.1 |
| Poland | 1.6 trillion | 43,300 | 37.6 million | 107.8 |
| Portugal | 430.2 billion | 41,500 | 10.4 million | 78.2 |
| Romania | 794.1 billion | 41,900 | 19.0 million | 76.1 |
| Slovakia | 203.5 billion | 37,500 | 5.4 million | 191.2 |
| Slovenia | 105.5 billion | 50,000 | 2.1 million | 224.3 |
| Spain | 2.2 trillion | 45,800 | 47.6 million | 65.2 |
| Sweden | 677.2 billion | 64,600 | 10.5 million | 68.2 |
| European Union | 24.3 trillion | 54,200 | 448.0 million | n/a |
Notes:
Gross domestic product (GDP) at purchasing power parity (PPP) for the European Union (EU) member countries collectively was calculated by summing the values for the 27 EU member countries.
GDP per capita at PPP was calculated by dividing the estimated GDP at PPP for the EU member countries collectively by the estimated population of the EU member countries collectively.
The estimated population for the EU member countries collectively was calculated by summing the population for the 27 EU member countries.
Source:
World Bank's World Development Indicators database.