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Diversifying trade
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Canada is continuing to diversify its international trade portfolio, diminishing our reliance on the United States as a trading partner. In 2008, U.S. trade accounted for 69.8% of Canada’s international merchandise trade, down from 76.7% in 2003.
In 2008, the United States accounted for 65.7% of Canada’s total merchandise trade on a customs basis—that is exports and imports combined—down from 74.0% in 2003.
Exports to countries other than the United States have grown to 24.5% of total exports, compared with 17.6% in 2003. Leading the gain are exports to Brazil and the Asia–Pacific countries.
Imports from countries other than the United States have also been on the rise. These now make up 36.6% of Canada’s total merchandise imports. Most of the growth in non-U.S. imports in 2008 was with China and European countries.
