Blogs & Comment

Trade Turndown

The back page of this issue of Canadian Businesshas some interesting figures on Canada’s trade in December. For the first time since 1976, we posted an overall deficit. Our surplus with the United States declined by 17% while the deficit with all other countries rose by 24%. In 2008, the US took almost 78% of our exports, an amount equal to 22% of our GDP.
Below are some tables that help flesh out the trade picture. The figures are exports by category for 2008 compared with 2007. Note that energy products saw huge increases when oil hit its highs during 2008. This could change in 2009 with the recession and lower prices. Automotive exports were especially hard hit during the year.

Agriculture and Fishing
Country 2007 2008 Change
$MIL $MIL %
United States 18,500 20,500 11
Mexico 1,300 1,500 15
Japan 3,000 3,800 27
Germany 187 235 26
France 179 194 8
U.K. 467 488 4
Italy 334 355 6
Others 467 488 4
334 355 6
Energy Products
Country 2007 2008 Change
$MIL $MIL %
United States 88,400 122,400 38
Mexico 29 165 469
Japan 984 2,300 134
Germany 189 323 71
France 106 396 274
U.K. 148 423 186
Italy 130 334 157
Others 2,110 5,396 156
Forestry Products
Country 2,007 2,008 Change
$MIL $MIL %
United States 21,100 17,800 (16)
Mexico 179 182 2
Japan 1,500 1,400 (7)
Germany 255 174 (32)
France 258 256 (1)
U.K. 522 374 (28)
Italy 395 385 (3)
Others 5,300 5,600 6
Industrial Goods and Services
Country 2,007 2,008 Change
$MIL $MIL %
United States 61,700 66,400 8
Mexico 984 1,300 32
Japan 2,600 2,500 (4)
Germany 1,300 1,700 31
France 715 487 (32)
U.K. 7,700 8,500 10
Italy 800 615 (23)
Others 21,600 23,300 8
Machinery and Equipment
Country 2,007 2,008 Change
$MIL $MIL %
United States 54,200 53,100 (2)
Mexico 757 998 32
Japan 743 623 (16)
Germany 1,300 1,500 15
France 1,200 1,300 8
U.K. 2,100 2,100 0
Italy 717 481 (33)
Others 11,700 13,600 16
Automotive Products
Country 2,007 2,008 Change
$MIL $MIL %
United States 70,400 54,800 (22)
Mexico 1,000 957 (4)
Japan 54 39 (28)
Germany 68 48 (29)
France 56 49 (13)
U.K. 84 70 (17)
Italy 20 12 (40)
Others 1,300 1,100 (15)
Other Consumer Goods
Country 2,007 2,008 Change
$MIL $MIL %
United States 11,900 11,000 (8)
Mexico 79 67 (15)
Japan 112 125 12
Germany 160 161 1
France 243 326 34
U.K. 280 294 5
Italy 61 69 13
Others 1,900 2,100 11