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Canada and the United States are the world’s largest trading partners. The U.S. accounts for
about 75% of Canada’s exports. Because of geography and the North American Free Trade Agreement, 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.] Words: 712
So says finance.sympatico.ca regarding a list* below of The Heavy Hitters in Canada – U.S. Trade.
This post is presented compliments of www.FinancialArticleSummariesToday.com (A site for sore eyes and inquisitive minds) and www.munKNEE.com (Your Key to Making Money!) and may have been edited ([ ]), abridged (…) and reformatted (some sub-titles and bold/italics emphases) for the sake of clarity and brevity to ensure a fast and easy read. Please note that this paragraph must be included in any article re-posting to avoid copyright infringement.
Here is a list of the major exports and imports between Canada and the U.S.:
1. Crude oil and petroleum – Canada to the U.S.
Canada’s largest export to the U.S. is crude oil making up 17.5% of Canadian exports to the U.S.. Canada also exports large quantities of processed crude in the form of petroleum. The vast majority of Canada’s exports are from Alberta’s oil sands to the Western and Southern U.S. [Read: Canada’s Oil Sands to Have $520 Billion Impact on U.S. Economy: Here Are the Facts, State by State]
2. Crude oil and petroleum – U.S. to Canada
Canada imports crude oil and petroleum from the U.S. because 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 made up 12.8% 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. 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. U.S. domestic production has increased recently, reducing the amount of Canadian imports.
6. Natural gas – U.S. to Canada
Most of the U.S. exports go into Ontario. [Read U.S. Has 3rd Largest Natural Gas Field in the World – Which Other Countries are Included in the Top 10?]
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. [Read: Major Investment Opportunities Exist In Agriculture! Here’s 50]
8. Aircraft and spacecraft – U.S. to Canada
Planes, satellites and other flying vehicles and their parts.
9. Gold – Canada to U.S.
Non-monetary gold is in the form of bullion, powder or any other semi-manufactured form. It does not include watches or jewelry.
10. Wood – Canada to the U.S.
This is coniferous or softwood lumber that has been hotly disputed between these two countries for years. Despite all the fighting, Canada remains the United State’s main supplier of wood.
Editor’s Note: 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.
*http://finance.sympatico.ca/galleries/heavy_hitters_us_canada (To access the articles please copy the URL and paste it into your browser.)
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