The Canada-United States trade relationship is an example of how partners can benefit from opening their borders to trade. Canada and the United States have long shared the largest bilateral trade relationship in the world. In 2010, bilateral trade reached $645.7 billion, representing some $1.8 billion worth of goods and services crossing the border every day (approximately $1.2 million a minute). One in seven Canadian jobs depend on trade with the United-States. Over eight million US jobs depend on trade with Canada.
Of the 50 U.S. states, 35 count Canada as their number one export market, with Canada ranking in the top three export markets for a further 12 states. Over 4,500 Canadian-owned businesses in 17,000 U.S. locations employ more than 568,000 Americans.
In 2010, Canadian merchandise exports to the United States reached $298.4 billion, an increase of 10.5% over 2009. Though still short of 2008 levels, bilateral trade continues to show signs of returning momentum in the wake of the global economic downturn.
Top (non-energy) Canadian exports to the United States include vehicles, machinery, electrical and electronic equipment, and paper/paperboard. Canada is the largest supplier of foreign oil, nuclear fuel, electricity, and natural gas to the United States.
Leading Canadian merchandise imports from the United States include vehicles, machinery, electrical and electronic equipment, mineral fuels and oils, and plastics.
Canada and the United States have one of the world’s largest investment relationships. The United States is the largest foreign investor in Canada, with U.S.. investors holding 54.5 percent (valued at $306.1 billion) of Canada’s total inward investment stock in 2010. According toU.S. statistics, Canada is the fifth-largest investor in the United States, with investments totalling $206.1 billion in 2010.