Mexico's Profile
Economic Indicators
- Gross domestic product (GDP) at purchasing power parity (PPP): US$2.7 trillion (2022)
- GDP per capita at PPP: US$21,500 (2022)
- Population: 127.5 million (2022)
- International merchandise exports and imports: 85.2% of GDP at official exchange rates (2022)
- Canada's 3rd largest merchandise trade partner (2022)
- Canada's 13th largest services trade partner (2021)
Notable Trade and Investment Agreements between Canada and Mexico
- Canada–United States–Mexico Agreement (2020)
- Comprehensive and Progressive Agreement for Trans-Pacific Partnership (2018)
- Canada–Pacific Alliance Free Trade Agreement (under negotiation)
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.
Michel Cristerna
Research and Education
Publication No. 2023-516-E
10 July 2023
Canada's Merchandise Trade with Mexico
Bilateral merchandise trade in 2022: $49.7 billion
- Exports: $9.1 billion, a 10.7% increase from 2021
- Imports: $40.6 billion, a 19.9% increase from 2021
Trade deficit in 2022: $31.5 billion, an increase from $25.6 billion in 2021
Exports in 2022: 1.2% of the total value of Canadian exports, a decrease from 1.3% in 2021
Imports in 2022: 5.5% of the total value of Canadian imports, unchanged from 2021
Highest‑valued exporters in 2022:
- Ontario – $3.5 billion, an increase from $3.0 billion in 2021
- Quebec – $2.2 billion, an increase from $1.9 billion in 2021
Exports in 2022:
- Resource‑based goods – 19.4%, an increase from 19.2% in 2021
- Manufactured goods – 80.6%, a decrease from 80.8% in 2021
Highest‑valued exports in 2022: Motor vehicle parts and canola seeds, together accounting for 26.7% of the total value of Canadian exports to Mexico
- Motor vehicle parts: $1.3 billion, an increase from $1.0 billion in 2021
- Canola seeds: $1.2 billion, an increase from $1.1 billion in 2021
Imports in 2022:
- Resource‑based goods – 8.9%, a decrease from 9.2% in 2021
- Manufactured goods – 91.1%, an increase from 90.8% in 2021
Highest‑valued imports in 2022: Motor vehicles, and trucks and other goods‑transporting vehicles, together accounting for 22.7% of the total value of Canadian imports from Mexico
- Motor vehicles: $4.8 billion, an increase from $4.2 billion in 2021
- Trucks and other goods‑transporting vehicles: $4.4 billion, an increase from $3.2 billion in 2021
Largest merchandise trade deficit in 2022: Machinery and equipment, at $14.4 billion
Largest merchandise trade surplus in 2022: Forest products, at $94.6 million
Canada's Services Trade with Mexico
Bilateral services trade in 2021: $2.9 billion
- Exports: $1.5 billion, a 7.5% increase from 2020
- Imports: $1.5 billion, a 37.0% decrease from 2020
Trade deficit in 2021: $38 million, a decrease from $1.0 billion in 2020
Services trade deficit in 2021: Largely due to travel services trade
Travel services
- Exports: $286 million
- Imports: $674 million
Commercial services
- Exports: $1.1 billion
- Imports: $596 million
Transportation and government services
- Exports: $95 million
- Imports: $223 million
Canada's Foreign Direct Investment with Mexico
Stock of Canadian direct investment in Mexico in 2022: $32.9 billion, a 17.5% increase from 2021
Mexico as a destination for Canadian foreign direct investment among the 145 countries for which data were available for 2022: 10th largest
Stock of Mexican direct investment in Canada in 2022: $2.7 billion, unchanged from 2021
Mexico as a source of foreign direct investment in Canada among the 95 countries for which data were available for 2022: 28th largest
1.7% of Canada's foreign direct investment stock was in Mexico in 2022, an increase from 1.6% in 2021
0.2% of the foreign direct investment stock in Canada was of Mexican origin in 2022, unchanged from 2021