Each day TFO Canada publishes a sample of trade news on the Canadian import market along with any new, updated or changed regulations and legislations regarding international trade; countries in which TFO Canada offers services and on the export sectors which it promotes.
Canadian Reliance on U.S. Trade Declines in 2008: StatscanTuesday, April 07, 2009 > 09:58:22
Canada's reliance on the United States as a trading partner fell even further in 2008 as American automobile and housing markets declined during the economic downturn.
Statistics Canada reports the United States accounted for less than two-thirds – 65.7% – of Canada's total merchandise trade (exports and imports combined) in 2008. That's down from 67.2% in 2007 and 74% in 2003.
The agency says exports to countries other than the United States have been growing for six years, representing 22.3% of total exports in 2008, up from 14.3% in 2003.
Leading the gain for Canada's exports from 2007 to 2008 were the Asia Pacific countries – mainly Japan – and Brazil. Exports to Japan increased 20.2% from 2007 to $11.1 billion, driven by coal, canola, and wheat, while exports to China totalled $10.4 billion in 2008, up 9.1%.
Summary statistics and a link to the data files are on the Statistics Canada website at http://www.statcan.gc.ca/daily-quotidien/090403/dq090403a-eng.htm.