Key Economic Trends
- The $85.3 billion increase in total U.S. merchandise trade with Canada reflected the economic growth that occurred in the two economies during 2010.
- The transportation equipment sector — principally motor vehicles and related parts — accounted for 37 percent of the growth in U.S. exports to Canada, as Canada's improving economy translated into greater consumer access to financing for durable goods such as motor vehicles.
- In 2010, U.S. imports from Canada were led by energy-related products, which increased 28 percent, by value; this increase was due to higher global prices for crude petroleum.
Trade Shifts from 2009 to 2010
- U.S. trade deficit: Increased by $16.7 billion (32 percent) to $69.6 billion
- U.S. exports: Increased by $34.3 billion (20 percent) to $206.0 billion
- U.S. imports: Increased by $51.0 billion (23 percent) to $275.5 billion
- Canadian Department of Foreign Affairs and International Trade
- U.S. Central Intelligence Agency: World Factbook - Canada
- U.S. Department of Energy, Energy Information Administration: Country Analysis Brief - Canada
- U.S. Department of State: Background Note - Canada