Cattle Rack Rancher
Well-known member
United States–Canada:
The World's Largest Trading Relationship
April 2004
Friends, Neighbors — and Business Partners
Trade and economic interests span the globe, but the scope and scale of the movement of goods, services, investment, people and ideas between the United States and Canada make this a unique partnership. Trade between the U.S. and Canada contributes to making both countries more internationally competitive, provides consumers and producers with a greater variety of goods and services at lower prices and generally improves the standard of living in both countries.
Co-operation has produced tremendous benefits to both nations: in 2003, two-way trade in goods and services surpassed $441.5 billion, making the U.S.–Canada trading relationship the largest in the world.
In 2003, the U.S. sold $195.8 billion worth of goods and services to Canada and received $245.8 billion worth of goods and services from Canada.
37,000 trucks cross the border between the two countries each and every day. 58% of these cross at only five key border crossings — the Ambassador Bridge, Sarnia, Fort Erie, Lacolle and the Pacific Highway.
Since 1989, when the U.S. and Canada implemented the Canada–U.S. Free Trade Agreement, trade between the two countries has accelerated, more than doubling from $192.4 billion to $441.5 billion in 2003.
Canada has been the leading destination for U.S. exports since 1946! From cars to computers — Canada buys more goods and services from the U.S. than any other country in the world. One-fifth of all U.S. exports went to Canada in 2003.
Thirty-seven states count Canada as their number one foreign customer; Canada is the most important destination of exports for most of the states along the border as well as the northeast and central U.S., and as far south as Missouri and Georgia. Twenty-three states sent more than one-quarter of their exports to Canada in 2003.
Since the implementation of the Canada–U.S. Free Trade Agreement in 1989 and the North American Free Trade Agreement in 1994, there has been a dramatic increase in two-way interdependence between the two economies.
U.S. exports bound for Canada more than doubled between 1989 and 2003, from $79.9 billion to $169.8 billion. Over the same period, U.S. imports from Canada increased from $89.9 billion to $226.9 billion.
In 2003, merchandise trade accounted for 86.7% of total U.S. exports to Canada and 92.3% of total imports from Canada.
Canada provides close to one-fifth of U.S. imports used in the production process or directly consumed. Nearly 60% of U.S. wood and paper imports came from Canada in 2002, despite the softwood lumber dispute between the two countries.
These trade numbers are due, in part, to the high degree of integration between Canadian and U.S. industry. Over 40% of U.S. trade with Canada is intra-firm, that is, trade occurring between parts of the same firm operating on both sides of the border.
The automotive industry is a prime example of this integration: every vehicle assembled in North America now contains nearly $1,250 of Canadian-made parts
The World's Largest Trading Relationship
April 2004
Friends, Neighbors — and Business Partners
Trade and economic interests span the globe, but the scope and scale of the movement of goods, services, investment, people and ideas between the United States and Canada make this a unique partnership. Trade between the U.S. and Canada contributes to making both countries more internationally competitive, provides consumers and producers with a greater variety of goods and services at lower prices and generally improves the standard of living in both countries.
Co-operation has produced tremendous benefits to both nations: in 2003, two-way trade in goods and services surpassed $441.5 billion, making the U.S.–Canada trading relationship the largest in the world.
In 2003, the U.S. sold $195.8 billion worth of goods and services to Canada and received $245.8 billion worth of goods and services from Canada.
37,000 trucks cross the border between the two countries each and every day. 58% of these cross at only five key border crossings — the Ambassador Bridge, Sarnia, Fort Erie, Lacolle and the Pacific Highway.
Since 1989, when the U.S. and Canada implemented the Canada–U.S. Free Trade Agreement, trade between the two countries has accelerated, more than doubling from $192.4 billion to $441.5 billion in 2003.
Canada has been the leading destination for U.S. exports since 1946! From cars to computers — Canada buys more goods and services from the U.S. than any other country in the world. One-fifth of all U.S. exports went to Canada in 2003.
Thirty-seven states count Canada as their number one foreign customer; Canada is the most important destination of exports for most of the states along the border as well as the northeast and central U.S., and as far south as Missouri and Georgia. Twenty-three states sent more than one-quarter of their exports to Canada in 2003.
Since the implementation of the Canada–U.S. Free Trade Agreement in 1989 and the North American Free Trade Agreement in 1994, there has been a dramatic increase in two-way interdependence between the two economies.
U.S. exports bound for Canada more than doubled between 1989 and 2003, from $79.9 billion to $169.8 billion. Over the same period, U.S. imports from Canada increased from $89.9 billion to $226.9 billion.
In 2003, merchandise trade accounted for 86.7% of total U.S. exports to Canada and 92.3% of total imports from Canada.
Canada provides close to one-fifth of U.S. imports used in the production process or directly consumed. Nearly 60% of U.S. wood and paper imports came from Canada in 2002, despite the softwood lumber dispute between the two countries.
These trade numbers are due, in part, to the high degree of integration between Canadian and U.S. industry. Over 40% of U.S. trade with Canada is intra-firm, that is, trade occurring between parts of the same firm operating on both sides of the border.
The automotive industry is a prime example of this integration: every vehicle assembled in North America now contains nearly $1,250 of Canadian-made parts
