United States' Profile
Economic Indicators
- Gross domestic product (GDP) at purchasing power parity (PPP): US$25.5 trillion (2022)
- GDP per capita at PPP: US$76,400 (2022)
- Population: 333.3 million (2022)
- International merchandise exports and imports: 21.4% of GDP at official exchange rates (2022)
- Canada's largest merchandise trade partner (2022)
- Canada's largest services trade partner (2021)
Notable Trade and Investment Agreements between Canada and the United States
- Canada–United States–Mexico Agreement (2020)
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
The merchandise trade data are customs‑based; the services trade data and foreign direct investment data are balance of payments–based.
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.
The Sources for the "Economic Indicators" Section
World Bank's World Development Indicators database
- GDP at PPP, GDP per capita at PPP, population, and international merchandise exports and imports as a share of GDP
Statistics Canada
- Merchandise and services trade rankings
- To display precise values: Hover over data points, bars and segments.
- To show or hide certain elements of a bar chart or a chart with plotted points: Click on their names in the legend.
- To highlight specific segments of a pie chart: Click on the segments and/or rotate the chart.
In addition, you can download each chart individually to multiple formats by clicking on the "Download figure" button at the top right of the chart. Before downloading bar charts and charts with plotted points, you may turn datasets on or off.
Anne-Marie Therrien-Tremblay
Research and Education
Publication No. 2023-515-E
17 July 2023
Canada's Merchandise Trade with the United States
Bilateral merchandise trade in 2022: $962.9 billion
- Exports: $599.8 billion, a 25.9% increase from 2021
- Imports: $363.1 billion, a 21.2% increase from 2021
Trade surplus in 2022: $236.7 billion, an increase from $176.5 billion in 2021
Exports in 2022: 77.0% of the total value of Canadian exports, an increase from 75.4% in 2021
Imports in 2022: 49.1% of the total value of Canadian imports, an increase from 48.6% in 2021
Highest‑valued exporters in 2022:
- Ontario – $220.7 billion, an increase from $194.6 billion in 2021
- Alberta – $183.8 billion, an increase from $122.7 billion in 2021
Exports in 2022:
- Resource‑based goods – 35.7%, an increase from 30.0% in 2021
- Manufactured goods – 64.3%, a decrease from 70.0% in 2021
Highest‑valued exports in 2022: Crude oil and motor vehicles, together accounting for 31.3% of the total value of Canadian exports to the United States
- Crude oil: $152.6 billion, an increase from $100.0 billion in 2021
- Motor vehicles: $35.3 billion, an increase from $33.3 billion in 2021
Imports in 2022:
- Resource‑based goods – 11.2%, an increase from 10.0% in 2021
- Manufactured goods – 88.8%, a decrease from 90.0% in 2021
Highest‑valued imports in 2022: Motor vehicles, and refined oil, together accounting for 11.5% of the total value of Canadian imports from the United States
- Motor vehicles: $21.9 billion, an increase from $17.9 billion in 2021
- Refined oil: $20.0 billion, an increase from $12.7 billion in 2021
Largest merchandise trade deficit in 2022: Machinery and equipment, at $11.0 billion
Largest merchandise trade surplus in 2022: Metals, mines and energy, at $194.4 billion
Canada's Services Trade with the United States
Bilateral services trade in 2021: $160.3 billion
- Exports: $77.7 billion, a 5.9% increase from 2020
- Imports: $82.7 billion, a 0.3% decrease from 2020
Trade deficit in 2021: $5.0 billion, a decrease from $9.6 billion in 2020
Services trade deficit in 2021: Largely due to commercial services trade
Travel services
- Exports: $1.9 billion
- Imports: $4.4 billion
Commercial services
- Exports: $67.3 billion
- Imports: $71.4 billion
Transportation and government services
- Exports: $8.5 billion
- Imports: $6.9 billion
Canada's Foreign Direct Investment with the United States
Stock of Canadian direct investment in the United States in 2022: $1.0 trillion, a 14.4% increase from 2021
United States as a destination for Canadian foreign direct investment among the 145 countries for which data were available for 2022: Largest
Stock of U.S. direct investment in Canada in 2022: $581.0 billion, a 5.4% increase from 2021
United States as a source of foreign direct investment in Canada among the 95 countries for which data were available for 2022: Largest
52.3% of Canada's foreign direct investment stock was in the United States in 2022, an increase from 50.8% in 2021
46.0% of the foreign direct investment stock in Canada was of U.S. origin in 2022, a decrease from 46.2% in 2021