Trade Patterns

The following facts will give you an overview of international trade:

• Canada has a trade sur lus in goods. In 2000, Canadian exports of goods exceeded Canadian imports of goods by $54.5 billion.

• Canada has a trade deficit in services (such as accounting services and financial services). In 2000, Canadian imports of services exceeded export of services by $6.6 billion.

• Canada imports some of the same categories of goods that it exports, specifically, automobiles products and machinery and equipment (see Table 5-2).

• As Table 5-2 implies, Canada's export and import trade is with other industrially advanced nations, not with developing countries. (Although data in this table are for goods only, the same general pattern applies to services).

• The United States is Canada's most important trading partner quantitatively. In 2000, 86 percent of Canadian exported goods were sold to Americans, who in turn provided 74 percent of Canada's imports of goods (see Table 5-2).

CANADIAN EXPORTS AND IMPORTS OF GOODS BY AREA, 2000

Exports to

Percentage of total

Imports from

Percentage of total

United States 86

European Union 5

Japan 3

Other countries 6

United States 74

European Union 9

Japan 3

Other countries 14

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