Focus on Canada and the United States: Trade

Impact of tariffs on businesses in Canada: Expectations and strategic responses, second quarter of 2025

Analysis in Brief

Amid shifts in tariffs, trade regulations and the U.S. administration, the Canadian Survey on Business Conditions, conducted from April 1 to May 5, 2025, incorporated a series of targeted questions to gauge the sentiment, expectations and strategic responses of businesses across Canada. This paper provides an overview of the survey findings, examining the anticipated impacts on sales, business uncertainty and selling prices, as well as the array of mitigation strategies businesses have adopted to navigate the evolving economic landscape.

Analytical product

Canada's balance of international payments, first quarter 2025

The Daily

Goods and services exports to the United States increased from $179.3 billion in the fourth quarter of 2024 to $191.0 billion in the first quarter of 2025. Goods (+7.9%), commercial services (+6.5%) and transportation services (+7.5%) led this increase.

Analytical product

Job quality in industries dependent on United States demand for Canadian exports

Economic and Social Reports

While it is challenging to estimate the number of job losses that may be associated with U.S. tariffs, it is possible to describe the quality of jobs at risk of being affected by a decline in U.S. demand for Canadian products. This article addresses this issue by examining a multitude of job quality measures in industries dependent on U.S. demand for Canadian exports.

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Trade in goods by exporter characteristics, 2024

The Daily

The United States was the sole export market for nearly two-thirds (65.9%) of Canadian exporting enterprises in 2024, the highest share recorded since 2003.

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Share of exporting establishments that exported goods to the United States, by province or region of the exporter, 2024

Infographic

This infographic shows, by province or region, the share of exporting establishments that exported goods to the United States in 2024.

Data visualization

Number of Canadian enterprises exporting goods to the United States, by state of destination, 2024

Infographic

This infographic shows the number of Canadian enterprises that exported goods to the United States in 2024, by the state of destination.

Data visualization

Canadian international merchandise trade, March 2025

The Daily

Recent trade tensions with the United States have brought the diversification of Canada's exports into focus. Statistics Canada publishes several measures of Canadian domestic export concentration, including export concentration by destination market.

Analytical product

How tariffs are conceptually reflected in key economic statistic

Economic and Social Reports

The effects of tariffs on Canadian exports or on imports into Canada will, over time (as they affect economic activities), be reflected in various statistical estimates published by Statistic Canada. While some programs measure tariffs directly - others do not, due to their underlying concepts. However, the impact of tariffs is embedded in data collected across multiple statistical programs which is used to calculate estimates like the Consumer Price Index, various producer price indexes, retail and manufacturing sales and key macroeconomic indicators, including the balance of payments, gross domestic product, supply and use tables, and government finances. This note outlines how these effects are captured across various statistical programs.

Analytical product

Canadian international merchandise trade, February 2025

The Daily

Recent announcements by the US government of broad new tariffs on imports of Canadian-origin goods, and Canadian retaliatory tariffs on imports of US-origin goods may shape future trends in Canadian international merchandise trade statistics. In 2024, 75.9% of Canada's domestic exports were destined to the United States on a customs basis. Energy products was the top export product category by far, with the vast majority (88.0%) being sent to the US market.

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Canadian domestic exports in millions of current dollars, annual 2024

Infographic

This infographic shows the importance of the United States in Canada's domestic exports (customs basis), by product. The product category with the largest percentage of domestic exports sent to the United States in 2024 was motor vehicles and parts, at 94.1%. The category with the lowest percentage of domestic exports destined to the United States was metal ores and non-metallic minerals, at 23.7%.

Data visualization

Canadian imports in millions of current dollars, annual 2024

Infographic

This infographic shows the importance of the United States in Canada's imports on a country of origin basis (customs basis), by product. In 2024, the product category with the largest US-origin share was energy products, at 72.7%. Metal ores and non-metallic minerals had the lowest share of US-origin products, at 20.8%.

Data visualization

Canada's international trade and investment country fact sheet

Interactive tool

Overview of Canada's economic and financial activity with the United States in a practical and concise format.

Data visualization

Table 12-10-0011-01 - International merchandise trade for all countries and by Principal Trading Partners, monthly

Data table

International merchandise trade data (exports, imports and trade balance) grouped by Principal Trading Partners, including the United States.

Data product

Table 12-10-0099-01 - Merchandise imports and exports, customs-based, by Harmonized commodity description and coding system (HS) section, Canada, provinces and territories, United States, states

Data table

Merchandise trade data with the United States, by Canadian province and US State

Data product

Table 12-10-0129-01 - Canadian domestic export concentration

Data table

The United States has long been the destination for the majority of Canada's exports of goods. Statistics Canada provides statistics on the concentration of Canada's domestically-produced exports among destination markets, and also among products and provinces of production. Analyzing exports through this lens provides additional insights on the exposure of domestic producers to external risk.

Data product

Control and sale of alcoholic beverages and cannabis, April 1, 2023 to March 31, 2024

The Daily

In 2023/2024, Canada imported $1.1 billion of alcoholic beverages from the United States. During the same period, Canada exported $1.3 billion of alcoholic beverages to the United States.

Analytical product

Canadian international merchandise trade, January 2025

The Daily

In 2024, Canada's merchandise exports to the United States on a customs basis totalled $596.2 billion. Customs-basis imports from the United States, allocated by country of export, totalled $471.3 billion, resulting in net exports of +$124.9 billion. The product category with the largest positive net export value by far was energy products (+$143.7 billion). Excluding energy products, Canada's net export value becomes negative (-$18.8 billion).

Analytical product

Perspectives on country attribution in Canadian international merchandise trade statistics

The Daily

Analyzing partner countries from different perspectives is possible with customs basis merchandise trade data, and can provide a more complete understanding of Canada's trade relationships with these partners, including the United States. New data tables introduced today offer the flexibility to examine country attribution from different perspectives in Canada's merchandise import and export statistics.

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Gross domestic product by industry, December 2024

The Daily

The United States continued to be the largest international supplier of goods and services to Canadian businesses in 2022, the most recent year for which data from the supply and use tables and the value-added in exports database are available. Imports from the United States accounted for 15.4% of all intermediate inputs (current purchases of goods and services) for Canadian industries.

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Gross domestic product, income and expenditure, fourth quarter 2024

The Daily

In 2021, 13.3% of total household final consumption expenditures in Canada were dependent on imports from the United States.

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Canada's balance of international payments, fourth quarter 2024

The Daily

Canada posted a current account deficit of $15.6 billion in 2024 with the rest of the world. On a geographical basis, the current account balance with the United States stood at a surplus of $91.6 billion in 2024 compared with a deficit of $107.2 billion with all other countries.

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Monthly Survey of Manufacturing, December 2024

The Daily

The United States is important for Canadian manufactured products, serving as Canada's largest export market. In 2024, Canadian manufacturers sold about half of their products to foreign customers, with roughly 80% of those exports going to the United States.

Analytical product

Canadian international merchandise trade, December 2024

The Daily

In 2024, the combined value of Canada's imports and exports of goods traded with the United States surpassed the $1 trillion mark for a third consecutive year. In 2024, the United States was the destination for 75.9% of Canada's total exports, and was the source of 62.2% of Canada's total imports.

Analytical product

Understanding the Canadian international merchandise trade balance

Conceptual note

Understand Canada's trade balance and asymmetries in bilateral trade data published by Canada and the United States.

Reference

Table 36-10-0007-01 - International transactions in services, by selected countries

Data table

Annual data on Canada's international trade in services are available for a list of countries and regions, including the United States. Services are further broken down between commercial services, travel services, and transport and government services.

Data product