Thursday , 7 November 2024

NAFTA: Major Imports & Exports Between the U.S. & Canada Are Surprising (+96K Views)

Automatically receive the internet’s most informative articles bi-weekly via our free bi-weekly Market Intelligence Report newsletter (sample here). Register in the top right hand corner of this page.

@$Canada and the United States are the world’s largest trading partners. The U.S. accounts for about three-quarters of Canada’s exports. Because of geography and the North American Free Trade Agreement [NAFTA], there are a number of products that the countries export to each other while at the same time importing from the other. [Take a look at the list. You might be very surprised.]  @A Financial Site For Sore Eyes & Inquisitive Minds

1. Crude oil and petroleum
Canada to the U.S.

@$Canada’s largest export to the U.S., by far, is crude oil with the vast majority coming from Alberta’s oil sands to the Western and Southern U.S.@Economic Developments

2. Crude oil and petroleum
U.S. to Canada

@$Because of the distances, it is cheaper for Eastern Canada to import oil through the U.S. eastern seaboard than to get it from Western Canada.

3. Vehicles
Canada to the U.S.

@$Combining the large and medium-sized passenger vehicle categories, car exports make up approx. 13% of Canadian exports. Canada’s automobile-related exports are a legacy of the Auto Pact under which American car companies set up plants in Canada and parts were shipped back and forth across the border.

4. Vehicles
U.S. to Canada

@$The largest portion of U.S. exports to Canada is related to cars –  small trucks, large and medium-sized passenger vehicles, gearboxes, engines and car body parts. The Auto Pact between the two countries was cancelled more than a decade ago, but its effect is still evident. Different car plants are tooled for different makes and models meaning that the finished products often have to be shipped across the border to meet the other country’s demand.

5. Natural gas
Canada to the U.S.

@$Like oil, most of the natural gas is produced in Alberta. Using a similar distribution pattern as oil, Canadian exports go from Alberta into the Western and Southern U.S.

6. Natural gas
U.S. to Canada

@$Most of the U.S. exports to Canada go into Ontario. U.S. domestic production has increased recently, reducing the amount of Canadian imports.

7. Potassium chloride
Canada to U.S.

@$Potassium chloride is found in potash, which is used to make the world’s fertilizers. Saskatchewan is the second largest producer of potash in the world.

8. Aircraft and spacecraft
U.S. to Canada

Planes, satellites and other flying vehicles and their parts…

9. Gold
Canada to U.S.

Canada is a major exporter to the U.S. of non-monetary gold – bullion, powder or any other semi-manufactured form. It does not include watches or jewelry. Although the United States is a net exporter of gold, much of its production depends on higher prices for gold to make it profitable.

10. Wood
Canada to the U.S.

Canada is the United State’s main supplier of wood.

The comments above are edited ([ ]) and abridged (…) excerpts from the original article
(*The author’s views and conclusions are unaltered and no personal comments have been included to maintain the integrity of the original article. Furthermore, the views, conclusions and any recommendations offered in this article are not to be construed as an endorsement of such by the editor.)

Scroll to very bottom of page & add your comments on this article. We want to share what you have to say!

 

 

7 comments

  1. Spot on with this write-up, I honestly think this amazing site needs much more attention. I’ll probably be returning to read through more, thanks for the information!

  2. You need to take part in a contest for one of the best blogs on the internet. I am going to recommend this site!

  3. EXPORT of Dairy Products from Canada to the US in 2017 – 62,195,417 kg ($149,478,473)
    IMPORTS of Dairy Products from the US to Canada in 2017 – 145,329,786 kg ($470,630,438)
    The United States also currently has a dairy trade surplus with Canada to the tune of some $321 million.
    Canada imports 10% of the country’s dairy products for domestic consumption.
    By contrast, the US restricts dairy imports to 3% of domestic consumption.

  4. This is contrary to Trump’s policy, but now the US deficit in trade with Canada is only growing.

    US trade deficit with Canada in the 1st quarter of 2017 was $8.8 billion, a 81.77% increase ($3.9 billion) over the 1st quarter of 2016. Source: http://us-export-import.com/canada/us-trade-with-canada-in-the-1st-quarter-of-2017/

    • That’s because Americans are smart and are buying Canadian goods now, knowing Trump is going to raise tariffs again and Trudeau will respond. Thus, the American’s will already stockpiled the Canadian goods prior to tariffs. Please know that 2 days after Trump wins the 2020 election, he will take the gloves off and Canada will have a choice of losing 76% of their exports or agreeing to play FAIR. Just look at the UNFAIR trade practices on dairy and grain. Canadian’s are suppose to be nice, which obviously means smiling and saying “Sorry” while they screw US farmers.

      • Hopefully you listened to the news today. Trump again has caused a rise in US goods bought by the middle class. Whooped our cost of living keeps rising!

  1. Pingback: URL