If you’ve ever wondered why these events happen, we can give you many good reasons. The U.S. and Canada enjoy a $1.6 trillion bilateral trade and investment relationship – arguably the world’s largest and most comprehensive. And out of 50 U.S. states, 32 rank Canada as their number one export market.
Also of note:
- Two-way goods and services trade totalled more than $614.9 billion in 2020,
- U.S. exports to Canada were almost $310 billion that same year,
- Top export categories to Canada that same year included machinery, vehicles, electrical machinery, mineral fuels, and plastics, and
- A total of $22 billion in U.S. agricultural products were exported to Canada in 2020, making it the U.S.’s second largest agricultural export market.
Canada and the U.S. share a language, a border, and a similar lifestyle, making Canada an open and receptive market for U.S. products and services. The two countries are also part of the United States-Mexico-Canada Agreement (USMCA), an agreement supporting mutually beneficial trade across North American borders.
More data supporting Canada as a U.S. export destination can be found on the International Trade Administration’s website.