Canada–11 Other Trans-Pacific Partnership Countries
Notable Trade and Investment Agreements Between Canada and the Other Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) Countries
- Canada–United Kingdom Trade Continuity Agreement (2021)
- Canada–United States–Mexico Agreement (2020) with Mexico
- Comprehensive and Progressive Agreement for Trans-Pacific Partnership (2018)
- Canada–Peru Free Trade Agreement (2009)
- Canada–Peru Foreign Investment Promotion and Protection Agreement (2007)
- Canada–Chile Free Trade Agreement (1997)
- Canada–Association of Southeast Asian Nations Free Trade Agreement with Brunei Darussalam, Malaysia, Singapore and Viet Nam (under negotiation)
- Canada–Japan Economic Partnership Agreement (under negotiation)
- Canada–Pacific Alliance Free Trade Agreement with Chile, Mexico and Peru (under negotiation)
- Canada–United Kingdom Free Trade Agreement (under negotiation)
Fundamentals for this Profile
The merchandise trade data are customs‑based; the services trade data and foreign direct investment data are balance of payments–based.
Services trade data do not include Brunei Darussalam and Peru because data for Canada’s services trade with these countries are not available for 2022.
Data on foreign direct investment stocks in Canada do not include Brunei Darussalam because data for this country are not available for 2023.
Data on jurisdictions that are involved in the formal accession process to join the CPTPP are not included in this profile.
The five most highly valued merchandise export and import categories have been identified using values for 2023.
All figures were prepared using Statistics Canada data available in summer 2024.
For the data tables used to generate the figures, see the HTML version: Trade and Investment Series 2023.
Detailed economic and population data on CPTPP countries are provided at the end of this profile.
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.
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Andrés León
Research and Education
Publication No. 2024-514-E
18 December 2024
Canada's Merchandise Trade with the Other CPTPP Countries
- Bilateral merchandise trade in 2023: $155.5 billion
- Exports: $49.7 billion, an 11.7% decrease from 2022
- Imports: $105.8 billion, a 10.5% increase from 2022
- Trade deficit in 2023: $56.2 billion, an increase from $39.6 billion in 2022
- Exports in 2023: 6.5% of the total value of Canadian exports, a decrease from 7.2% in 2022
- Imports in 2023: 14.0% of the total value of Canadian imports, an increase from 12.9% in 2022
- Highest-valued exporters to the other CPTPP countries in 2023:
- Ontario: $19.8 billion, a decrease from $22.7 billion in 2022
- British Columbia: $8.4 billion, a decrease from $8.5 billion in 2022
- Destinations for merchandise exports to the other CPTPP countries, by country, in 2023:
- Japan: 31.9%
- United Kingdom: 30.7%
- Mexico: 17.8%
- Australia: 6.4%
- Singapore: 3.5%
- All other CPTPP countries: 9.8%
- Merchandise exports to Japan and to all other CPTPP regions in 2023:
- Japan: $15.8 billion, a decrease from $18.0 billion in 2022
- All other CPTPP countries: $33.8 billion, a decrease from $38.2 billion in 2022
- Sources of merchandise imports from the other CPTPP countries, by country, in 2023:
- Mexico: 43.7%
- Japan: 19.5%
- Viet Nam: 12.5%
- United Kingdom: 8.9%
- Peru: 4.4%
- All other CPTPP countries: 10.9%
- Merchandise imports from Mexico and from all other CPTPP regions in 2023:
- Mexico: $46.2 billion, an increase from $41.4 billion in 2022
- All other CPTPP countries: $59.6 billion, an increase from $54.4 billion in 2022
- Exports in 2023:
- Resource-based goods: 48.1%, a decrease from 50.3% in 2022
- Manufactured goods: 51.9%, an increase from 49.7% in 2022
- Highest‑valued exports in 2023: Gold and coal, together accounting for 26.2% of the total value of Canadian exports to the other CPTPP countries
- Gold: $9.1 billion, a decrease from $12.2 billion in 2022
- Coal: $3.9 billion, a decrease from $4.0 billion in 2022
- Imports in 2023:
- Resource-based goods: 9.7%, an increase from 9.3% in 2022
- Manufactured goods: 90.3%, a decrease from 90.7% in 2022
- Highest‑valued imports in 2023: Motor vehicles, and trucks and other goods-transporting vehicles, together accounting for 19.4% of the total value of Canadian imports from the other CPTPP countries
- Motor vehicles: $14.9 billion, an increase from $9.9 billion in 2022
- Trucks and other goods-transporting vehicles: $5.6 billion, an increase from $5.2 billion in 2022
- Largest merchandise trade deficit in 2023: Machinery and equipment, at $30.9 billion
- Largest merchandise trade surplus in 2023: Metals, mines and energy, at $9.4 billion
Countries Canada’s Services Trade with Selected Other CPTPP Countries
(Brunei Darussalam and Peru are not included)
- Services trade between Canada and selected other CPTPP countries in 2022: $38.0 billion
- Exports: $16.7 billion, a 20.2% increase from 2021
- Imports: $21.2 billion, a 26.4% increase from 2021
- Trade deficit in 2022: $4.5 billion, an increase from $2.9 billion in 2021
- Services trade deficit in 2022: Largely due to transportation and government services trade
- Travel services: $3.3 billion in exports and $4.7 billion in imports
- Commercial services: $10.8 billion in exports and $9.5 billion in imports
- Transportation and government services: $2.6 billion in exports and $7.0 billion in imports
- Destinations for services exports to selected other CPTPP countries in 2022:
- United Kingdom: 48.3%
- Mexico: 12.6%
- Australia: 11.9%
- Japan: 11.1%
- Singapore: 7.3%
- Other CPTPP countries: 8.8%
- Sources of services imports from selected other CPTPP countries in 2022:
- United Kingdom: 46.7%
- Mexico: 17.1%
- Singapore: 14.8%
- Japan: 11.3%
- Australia: 6.0%
- Other CPTPP countries: 4.1%
Canada's Foreign Direct Investment
with the Other CPTPP Countries
- Destinations for Canadian foreign direct investment in the other CPTPP countries in 2023:
- United Kingdom: 41.9%
- Australia: 20.1%
- Mexico: 13.9%
- Chile: 8.3%
- Singapore: 6.2%
- All other CPTPP countries: 9.6%
- Sources of foreign direct investment in Canada from selected other CPTPP countries in 2023:
- United Kingdom: 58.3%
- Japan: 20.1%
- Australia: 14.9%
- Singapore: 4.3%
- Mexico: 1.7%
- Other CPTPP countries: 0.7%
Profile of the CPTPP Countries
- Data on jurisdictions that are involved in the formal accession process to join the CPTPP are not included in this table.
| CPTPP Countries | GDP at PPP (2023, US$) | GDP per Capita at PPP (2023, US$) | Population (2023) | Merchandise Exports and Imports as a Percentage of GDP at Official Exchange Rates (2023) |
|---|---|---|---|---|
| Australia | 1.8 trillion | 69,100 | 26.6 million | 38.2% |
| Brunei Darussalam | 39.1 billion | 86,400 | 452,500 | 101.8% |
| Canada | 2.5 trillion | 61,600 | 40.1 million | 53.3% |
| Chile | 653.4 billion | 33,300 | 19.6 million | 53.8% |
| Japan | 6.3 trillion | 50,200 | 124.5 million | 35.7% |
| Malaysia | 1.3 trillion | 37,200 | 34.3 million | 144.8% |
| Mexico | 3.3 trillion | 25,600 | 128.5 million | 67.9% |
| New Zealand | 282.6 billion | 54,100 | 5.2 million | 36.1% |
| Peru | 574.3 billion | 16,700 | 34.4 million | 42.2% |
| Singapore | 837.3 billion | 141,500 | 5.9 million | 179.4% |
| United Kingdom | 4.0 trillion | 58,900 | 68.4 million | 39.3% |
| Viet Nam | 1.5 trillion | 15,200 | 98.9 million | 158.1% |
| CPTPP (estimate) | 23.0 trillion | 39,300 | 586.8 million | n/a |
Notes:
On 8 March 2018, Australia, Brunei Darussalam, Canada, Chile, Japan, Malaysia, Mexico, New Zealand, Peru, Singapore and Viet Nam signed the CPTPP. The agreement entered into force on 30 December 2018 for Australia, Canada, Japan, Mexico, New Zealand and Singapore, followed by Viet Nam on 14 January 2019, Peru on 19 September 2021, Malaysia on 29 November 2022, Chile on 21 February 2023 and Brunei Darussalam on 12 July 2023.
On 16 July 2023, the United Kingdom signed its accession protocol to the CPTPP, becoming the agreement’s 12th signatory. The United Kingdom acceded to the CPTPP on 15 December 2024. Starting in late December 2024, the United Kingdom will be able to trade under the CPTPP with the following nine countries that – as of 18 December 2024 – had completed the ratification process in accordance with the United Kingdom’s accession protocols: Australia, Brunei Darussalam, Chile, Japan, Malaysia, New Zealand, Peru, Singapore and Viet Nam. As of 18 December 2024, Canada and Mexico had not yet ratified the United Kingdom’s accession protocols.
Between September 2021 and May 2023, China, Costa Rica, Ecuador, Taiwan, Ukraine and Uruguay formally requested accession to the CPTPP. On 28 November 2024, the CPTPP’s decision-making body – the CPTPP Commission – established a working group to begin negotiations with Costa Rica concerning its potential accession to the CPTPP. However, as of 18 December 2024, the formal accession process had not started for the other five applicants. Furthermore, Colombia, the Philippines, South Korea and Thailand have indicated their interest in acceding to the CPTPP; they have not yet submitted an application for accession.
Gross domestic product (GDP) at purchasing power parity (PPP) for the CPTPP countries collectively was calculated by summing the values for the 12 CPTPP countries.
GDP per capita at PPP was calculated by dividing the estimated GDP at PPP for the CPTPP countries collectively by the estimated population of the CPTPP countries collectively.
The estimated population for the CPTPP countries collectively was calculated by summing the population for the 12 CPTPP countries.
Source:
World Bank’s World Development Indicators database.