Canada maintains extensive trade relations with numerous countries around the world as a trading nation,http=book_result&ct=result&resnum=2&ved=0CBoQ6AEwAQ#v=onepage&q&f=false although its largest trading partners are primarily concentrated in North America, Europe, and Asia. These economic relationships are measured by the total value of goods and services exchanged.

Contemporary overview

Canada is a founding member of the World Trade Organization (WTO) since 1 January 1995, having been an original GATT member since 1 January 1948. Canada has concluded free trade agreements with 51 countries, recently with South Korea, which represents Canada's first FTA with a partner in the Asia-Pacific region. Canada has two other significant overseas multilateral trade agreements: the Comprehensive Economic and Trade Agreement (CETA) with the European Union and the 11-nation Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) with 10 other Pacific-Rim countries.

Canadian exports account for roughly 2.4% of the total value of goods exported worldwide, projected at US$23.926 trillion for 2024. Of that total trade, roughly 70% to 75% is done with countries that are part of free trade agreements with Canada—primarily the United States through the Canada–United States–Mexico Agreement being the largest.

Largest trade partners by total trade

The following table shows Canada's largest trading partners for the 2024 calendar year, ranked by total goods trade (exports plus imports) in billions of Canadian dollars. These figures include goods only and exclude services and foreign direct investment.

Rank Territory Exports ($ billions) Imports ($ billions) Total trade ($ billions)Total trade(%) Trade balance ($ billions) - World 720.1765.71,485.8100%-45.6 1 547.4377.0924.462.22%+170.4 - Indo-Pacific 75.5183.0258.517.40%-107.5 - Europe and Central Asia 68.8109.3178.111.99%-40.5 2 29.388.8118.17.95%-59.5 - 34.573.6108.17.27%-39.1 - Latin America and the Caribbean 18.676.495.06.40%-57.8 3 8.147.355.43.73%-39.2 4 27.09.836.82.48%+17.2 5 14.821.436.22.48%-6.6 6 5.723.829.5 1.99%-18.1 7 7.516.924.4 1.64%-4.5 8 1.014.715.7 1.06%-1.5 9 3.112.515.6 1.05%-9.4 - Africa 5.49.514.91.00%-4.5 10 6.18.114.2 0.96%-2.0 - Middle East 5.44.910.30.69%+0.5

Largest export partners The following table shows Canada's largest export partners for the 2024 calendar year, ranked by total goods exported in billions of Canadian dollars. These figures include goods only and exclude services and foreign direct investment. Rank Territory Exports ($ billions) Total export (%) - World 720.1100% 1 547.476.02% - Indo-Pacific 75.510.48% - Europe and Central Asia 68.89.55% - 34.54.79% 2 29.34.07% 3 27.03.75% - Latin America and the Caribbean 18.62.58% 4 14.82.06% 5 8.11.25% 6 7.51.04% 7 6.30.87% 8 6.10.85% 9 5.70.79% - Africa 5.40.75% - Middle East 5.40.75% 10 5.10.70% Largest import partners The following table shows Canada's largest import partners for the 2024 calendar year, ranked by total goods exported in billions of Canadian dollars. These figures include goods only and exclude services and foreign direct investment. Rank Territory Imports ($ billions) Total import (%) - World 765.7100% 1 377.049.24% - Indo-Pacific 183.023.90% - Europe and Central Asia 109.314.27% 2 88.811.60% - Latin America and the Caribbean 76.49.98% - 73.69.61% 3 47.36.18% 4 23.83.11% 5 21.42.79% 6 16.92.21% 7 14.71.92% 8 12.51.63% 9 10.21.33% 10 9.91.29% - Africa 9.51.24% - Middle East 4.90.64% See also List of the largest trading partners of Australia List of the largest trading partners of the ASEAN List of the largest trading partners of China List of the largest trading partners of the European Union List of the largest trading partners of Germany List of the largest trading partners of Italy List of the largest trading partners of the Netherlands List of the largest trading partners of India List of the largest trading partners of Russia List of the largest trading partners of United Kingdom List of the largest trading partners of the United States List of the largest trading partners of South Korea

References