Monday, June 16, 2008

Tidbits about the US-Canada trade relationship

Continuing on the theme of the importance of the Canadian trade relationship with the United States, here are some interesting facts and figures:

  • $250 billion US goods bought by Canada in 2007 - 70% of the trade is done by truck
  • Every 1.5 seconds a truck crosses the US Canadian border
  • 7 million US jobs are supported by trade with Canada
  • 15,500 companies in the US are Canadian owned
  • For every $1 in goods China buys from the United States, Canada buys $4.
  • More cars made in Ontario than the US (the share health care expenses borne by the company are a big part of why Canada can be more competitive
  • The US exported more goods to Canada in 2007 than the 27 nations of the European Union ($249 billion versus $247 billion in the US. There are 33 million people in Canada and 494 million in the EU.
  • Ontario is the 4th largest trading partner of the US (after Canada as whole, China and Mexico). The trade is almost $900 million per day.
  • Canada’s CDP was $1.53 trillion Canadian in 2007, while the US was $13.8 trillion.
    45% of the population of the greater Toronto area was born outside the US
  • Canada’s defense expenditures are relatively low while the US spends close to 50% of what the entire world spends on defense by some measures.
  • Mexico is the source of the most illegal immigrants in the United States. Canada is second!
  • Autos are 25% of goods that cross the border, but we don’t really sell cars to one another. Canada and the US are really making cars together. This is included in some “trade” numbers though.

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