U.S.-Canada Trade Facts
U.S. goods and services trade with Canada totaled an estimated $662.7 billion in 2015. Exports were $337.3 billion; imports were $325.4 billion. The U.S. goods and services trade surplus with Canada was $11.9 billion in 2015.
Canada is currently our 2nd largest goods trading partner with $575 billion in total (two way) goods trade during 2015. Goods exports totaled $280 billion; goods imports totaled $295 billion. The U.S. goods trade deficit with Canada was $15 billion in 2015.
Trade in services with Canada (exports and imports) totaled an estimated $87.5 billion in 2015. Services exports were $57.3 billion; services imports were $30.2 billion. The U.S. services trade surplus with Canada was $27.1 billion in 2015.
According to the Department of Commerce, U.S. exports of goods and services to Canada supported an estimated 1.7 million jobs in 2014 (latest data available) (1.3 million supported by goods exports and 394 thousand supported by services exports).
Exports
Canada was the United States' largest goods export market in 2015.
U.S. goods exports to Canada in 2015 were $280 billion, down 10% ($32 billion) from 2014 but up 32% from 2005. U.S. exports to Canada are up 179% from 1993 (pre-NAFTA). U.S. exports to Canada account for 18.6% of overall U.S. exports in 2015.
The top export categories (2-digit HS) in 2015 were: vehicles ($48 billion), machinery ($43 billion), electrical machinery ($25 billion), mineral fuels ($21 billion), and plastics ($13 billion).
U.S. exports of agricultural products to Canada totaled $24 billion in 2015, our largest agricultural export market. Leading categories include: prepared food ($1.9 billion), fresh vegetables ($1.9 billion), fresh fruit ($1.6 billion), snack foods ($1.3 billion), and non-alcoholic bev. (ex. juices) ($1.2 billion).
U.S. exports of services to Canada were an estimated $57.3 billion in 2015, 6.6% ($4.0 billion) less than 2014, but 74.8% greater than 2005 levels. It was up roughly 237% from 1993 (pre-NAFTA). Based on 2014, leading services exports from the U.S. to Canada were in the travel, intellectual property (software and audio-visual), and transportation sectors.
Imports
Canada was the United States' 2nd largest supplier of goods imports in 2015.
U.S. goods imports from Canada totaled $295 billion in 2015, down 15% ($53 billion) from 2014, but up 1.7% from 2005. U.S. imports from Canada are up 165% from 1993 (pre-NAFTA).
The top import categories (2-digit HS) in 2015 were: mineral fuels ($70 billion), vehicles ($55 billion), machinery ($20 billion), special other (returns) ($14 billion), and plastics ($11 billion).
U.S. imports of agricultural products from Canada totaled $22 billion in 2015, our largest supplier of agricultural imports. Leading categories include: snack foods ($3.7 billion), red meats, fr/ch/fr ($2.2 billion), live animals ($1.8 billion), other vegetable oils ($1.6 billion), and processed fruit & vegetables ($1.4 billion).
U.S. imports of services from Canada were an estimated $30.2 billion in 2015, 0.5% ($139 million) more than 2014, and 33.8% greater than 2005 levels. It was up roughly 232% from 1993 (pre-NAFTA). Based on 2014, leading services imports from Canada to the U.S. were in the travel, transportation, and telecommunications, computer, and information services sectors.
Trade Balance
The U.S. goods trade deficit with Canada was $15 billion in 2015, a 57.1% decrease ($20 billion) over 2014.
The United States has a services trade surplus of an estimated $27 billion with Canada in 2015, down 13.4% from 2014.
Investment
U.S. foreign direct investment (FDI) in Canada (stock) was $386.1 billion in 2014 (latest data available), a 1.0% decrease from 2013. U.S. direct investment in Canada is led by nonbank holding companies, manufacturing, and finance/insurance.
Canada's FDI in the United States (stock) was $261.2 billion in 2014 (latest data available), up 11.1% from 2013. Canada's direct investment in the U.S. is led by manufacturing, finance/insurance, and depository institutions.
Sales of services in Canada by majority U.S.-owned affiliates were $127.6 billion in 2013 (latest data available), while sales of services in the United States by majority Canada-owned firms were $84.4 billion.
