Canada's top trading partner is the United States.
The Great White North is the name of the land border between Canada and the United States of America.Canada shipped US$390.8 billion worth of products in 2020.Since 2016 the dollar amount has gone up but gone down.74.6% of Canada's exports were delivered to fellow North American countries while 12.3% were sold to Asian importers.Canada shipped more than 10% of its goods to Europe.Smaller percentages went to Latin America, Africa, and the Caribbean but not Australia and New Zealand.
The countries that imported the most Canadian shipments by dollar value in 2020 are shown below.The percentage of total Canadian exports is shown.
The above 15 trade partners received over nine-tenths of Canadian exports in 2020.Norway, Italy, and China are the leading increases among Canada's top trade partners.India, Belgium and Mexico were the leading decliners in terms of consuming Canadian exports.The value of Canada's shipments to the United States fell from the year before.
Canada's trade deficit for 2020 was -27.8% lower than it was a year earlier.A country with a negative trade balance is said to have a higher total value of imports than exports.It would be impossible for an exporting nation to have positive trade balances with all of its partners.export country doesn't post a negative trade balance with each individual partner with which it exchanges exports and importsCanada had the highest trade deficits.
Canada has the greatest negative trade balances with Brazil, Vietnam, and South Korea.These cashflow deficiencies clearly indicate Canada's competitive disadvantages with the above countries, but also represent key opportunities for Canada to develop country-specific strategies to strengthen its overall position in international trade.
Investopedia defines a net importer as a country whose total value of imported goods is less than its total exports.Canada had the highest trade surpluses.
Canada has the greatest positive trade balances with Netherlands, Malta, and Norway.Canada's competitive advantages with the above countries are shown in the positive cashflow streams, but also represent key opportunities for Canada to develop country-specific strategies to maximize its position in international trade.
Sixty Canadian corporations are ranked by Forbes Global 2000.Forbes included a sample of major Canadian companies.