Trade & Exports
Canada's merchandise trade through the lens of its export markets — monthly export levels and growth for the United States versus the rest of the world, on a balance-of-payments basis. Based on Statistics Canada international trade data and refreshed automatically.
Updated August 6, 202611 charts
Overview
Original analysis
Exports and imports by partner with the monthly balance shaded — a surplus with the U.S., a deficit with the restHow to read: The shaded gap between the lines is the monthly balance: green where exports exceed imports, red where they fall short.Data through Jun 2026
OverviewMonthly merchandise trade balance — total and with the United States (BoP basis, seasonally adjusted)Data through Jun 2026
OverviewOriginal analysis
Merchandise trade balance, total vs with energy products removed — energy is worth about $160B a year, and without it the balance is roughly -$161BHow to read: The blue line is Canada's total goods trade balance; the green line strips out energy (oil, gas, refined products) from both exports and imports. The gap between them is how much energy props up the balance.Data through Jun 2026
OverviewOriginal analysis
Energy products as a share of total merchandise exports over time — the resource-dependence trendData through Jun 2026
OverviewTrading Partners
Share of total merchandise exports destined for the United States, 1997–presentData through Jun 2026
Trading PartnersCanada's 10 largest export destinations excluding the U.S., trailing 12 months (customs basis)Data through Jun 2026
Trading PartnersOriginal analysis
Canadian domestic exports to the U.S. by product category, trailing 12 monthsData through Jun 2026
Trading PartnersOriginal analysis
Share of each province's merchandise exports that goes to the United States — a provincial risk mapHow to read: Each bar is the share of that province's merchandise exports going to the United States over the last 12 months. The higher the bar, the more of the province's export economy is exposed to U.S. tariffs.Data through Jun 2026
Trading PartnersOriginal analysis
Merchandise exports to the U.S. as a share of each province's GDP — tariff exposure relative to the whole economyHow to read: Unlike the export-share view, this divides U.S. exports by the province's entire GDP — how much of the whole economy, not just its exports, rides on U.S. demand.Data through Jun 2026
Trading PartnersOriginal analysis
Merchandise trade balance with each major partner — a large surplus with the U.S., deficits with everyone elseData through Jun 2026
Trading PartnersOriginal analysis
Herfindahl index of export-commodity concentration by province — regional fragility from narrow export basketsHow to read: A Herfindahl index of exports across product categories. A province that exported a single product would score 10,000; a perfectly even spread across 12 categories scores about 830. Higher means more eggs in fewer baskets.Data through Jun 2026
Trading Partners