Reliance on U.S. as trading partner continues decline
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Canada's reliance on the United States as a trading partner continued to decline in 2011, as Asia and Europe gained further ground.
On a customs basis, levels of merchandise exports to the United States in 2011 were just below those recorded a decade earlier, while exports to the United Kingdom and China grew more than fourfold between 2002 and 2011.
In 2011, the United States accounted for 73.7% of Canada's total exports, down from 87.1% in 2002. At the same time, China's share more than tripled from 1.0% to 3.8%. During this period, the value of exports destined for China more than quadrupled.
In terms of imports, the United States in 2011 accounted for less than half (49.5%) of Canada's total imports, compared with 62.6% in 2002. In contrast, China's share of imports has shown the largest gains, increasing from 4.6% in 2002 to 10.8% in 2011.
China remained Canada's second-largest source of imports for the 10th consecutive year. Electronic computers and other telecommunications equipment, including cellular telephones, have driven the growth of imports from China.
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