In 2024, Canada's trade deficit with China amounted to around 57.9 billion Canadian dollars, a slight decrease from around 58.7 billion Canadian dollars in the previous year. In 2024, Canada imported around 87.6 billion Canadian dollar-worth of goods from China and exported only 29.8 billion Canadian dollar-worth of merchandise.

In 2023, China had exported approximately 89.2 billion Canadian dollars worth of merchandise goods to Canada, a decrease from around 100.2 billion Canadian dollars in the previous year. In 2023, Canada recorded an over 58 billion Canadian dollars of trade deficit with China.

As of 2024, the United States had a trade deficit of about 918 billion U.S. dollars. The U.S. trade deficit has increased since 2009, peaking in 2022. Most recently, 2023 marked the year when the U.S. trade deficit decreased from the previous year. What is trade deficit? A trade deficit is, quite simply, the total value of a country’s imports of goods and services minus the total value of its exports of goods and services. When a country exports more than it imports, it has a trade surplus, and when it imports more than it exports, it has a trade deficit. A trade deficit can mean one of two things: Either the country is failing to produce enough goods for its citizens, or its citizens are wealthy enough to purchase more goods than the country produces (as is the case with the United States). Trading partners The United States’ top export partners are its closest neighbors, Canada and Mexico, due in part to the North American Free Trade Agreement (NAFTA), which, pending ratification, will be replaced by the United States-Mexico-Canada Agreement (USMCA). Regarding imports to the U.S., China takes the top spot, followed by Mexico and Canada.

International merchandise trade data grouped by Principal Trading Partners (PTP). Users have the option of selecting Imports, Exports, or Trade Balance. Data are unadjusted and seasonally adjusted, and are on a Customs and Balance of Payments basis.

Canada CA: Trade Balance: Emerging and Developing Economies: Emerging and Developing Asia: China, People Republic: Mainland data was reported at -39.801 USD bn in 2017. This records a decrease from the previous number of -35.677 USD bn for 2016. Canada CA: Trade Balance: Emerging and Developing Economies: Emerging and Developing Asia: China, People Republic: Mainland data is updated yearly, averaging -0.750 USD mn from Dec 1948 (Median) to 2017, with 70 observations. The data reached an all-time high of 1.259 USD bn in 1988 and a record low of -39.801 USD bn in 2017. Canada CA: Trade Balance: Emerging and Developing Economies: Emerging and Developing Asia: China, People Republic: Mainland data remains active status in CEIC and is reported by International Monetary Fund. The data is categorized under Global Database’s Canada – Table CA.IMF.DOT: Trade Balance: by Country: Annual.

Canada Trade Balance: NAPCS: BOP: sa: China data was reported at -1,221.100 CAD mn in Sep 2018. This records an increase from the previous number of -1,404.600 CAD mn for Aug 2018. Canada Trade Balance: NAPCS: BOP: sa: China data is updated monthly, averaging -844.400 CAD mn from Jan 1997 (Median) to Sep 2018, with 261 observations. The data reached an all-time high of 124.200 CAD mn in Mar 1997 and a record low of -2,404.000 CAD mn in Mar 2015. Canada Trade Balance: NAPCS: BOP: sa: China data remains active status in CEIC and is reported by Statistics Canada. The data is categorized under Global Database’s Canada – Table CA.JA002: Trade Balance: NAPCS 2007: Seasonally Adjusted (Discontinued). Changed from NAPCS 2007 to NAPCS 2017. Replacement series ID: 411686667

In 2023, China had imported about 30.5 billion Canadian dollars worth of merchandise goods from Canada, increasing from around 28.7 billion Canadian dollars in 2022. In 2023, Canada recorded an over 58 billion Canadian dollars of trade deficit with China.

Canada CA: Trade Balance: Emerging and Developing Economies: Emerging and Developing Asia: China, People Republic: Mainland data was reported at -9.703 USD bn in Mar 2018. This records an increase from the previous number of -10.826 USD bn for Dec 2017. Canada CA: Trade Balance: Emerging and Developing Economies: Emerging and Developing Asia: China, People Republic: Mainland data is updated quarterly, averaging 2.100 USD mn from Mar 1960 (Median) to Mar 2018, with 233 observations. The data reached an all-time high of 464.100 USD mn in Jun 1988 and a record low of -11.413 USD bn in Sep 2017. Canada CA: Trade Balance: Emerging and Developing Economies: Emerging and Developing Asia: China, People Republic: Mainland data remains active status in CEIC and is reported by International Monetary Fund. The data is categorized under Global Database’s Canada – Table CA.IMF.DOT: Trade Balance: by Country: Quarterly.

In 2023, Canada imported merchandise with a total value of about 89 billion Canadian dollars from China. That year, Canada had a trade deficit of 58.7 billion Canadian dollars with China.

The statistic shows the trade balance of goods (exports minus imports of goods) in Canada from 2013 to 2023. A positive value means a trade surplus, a negative trade balance means a trade deficit. In 2023, the trade deficit of goods in Canada amounted to about 1.55 billion U.S. dollars. Trade with Canada Canada reported a trade surplus until 2009 when the country’s trade balance went negative for the first time in recent history. Its deficit was ignited at the height of the global recession, and the value of exports decreased significantly at that time. It is only now showing signs of a recovery. Meanwhile, while imports decreased during the recession as well, they bounced back faster than exports. Currently, Canada maintains neither a trade deficit nor a trade surplus as both imports and exports amount to around 475 billion U.S. dollars worth of goods. Canada is hoping this will continue and it is looking to lower tariffs on exports in order to further boost the economy and increase exports. Canada has long and strong trading relationship with the United States - Canada’s southern neighbor is without a doubt its most important export and import partner. Overall Canada maintains an export advantage over the United States; maintaining greater export flows than import flows. The U.S. dollar is also worth more than the Canadian dollar, favoring further exports from Canada. China and Mexico also import Canadian goods, but significantly less than the United States.

Macau MO: Trade Balance: Advanced Economies: Canada data was reported at -3.284 USD mn in May 2018. This records a decrease from the previous number of -3.112 USD mn for Apr 2018. Macau MO: Trade Balance: Advanced Economies: Canada data is updated monthly, averaging 0.516 USD mn from Jan 1963 (Median) to May 2018, with 546 observations. The data reached an all-time high of 5.917 USD mn in Jul 2004 and a record low of -15.015 USD mn in Dec 1995. Macau MO: Trade Balance: Advanced Economies: Canada data remains active status in CEIC and is reported by International Monetary Fund. The data is categorized under Global Database’s Macau – Table MO.IMF.DOT: Trade Balance: by Country: Monthly.

Macau MO: Trade Balance: Advanced Economies: Canada data was reported at -9.404 USD mn in Mar 2018. This records a decrease from the previous number of -7.400 USD mn for Dec 2017. Macau MO: Trade Balance: Advanced Economies: Canada data is updated quarterly, averaging 1.309 USD mn from Mar 1963 (Median) to Mar 2018, with 189 observations. The data reached an all-time high of 14.106 USD mn in Sep 2004 and a record low of -16.033 USD mn in Dec 2008. Macau MO: Trade Balance: Advanced Economies: Canada data remains active status in CEIC and is reported by International Monetary Fund. The data is categorized under Global Database’s Macau – Table MO.IMF.DOT: Trade Balance: by Country: Quarterly.

External balance on goods and services (formerly resource balance) equals exports of goods and services minus imports of goods and services (previously nonfactor services). Data are in current U.S. dollars.

Hong Kong HK: Trade Balance: Advanced Economies: Canada data was reported at 608.321 USD mn in 2017. This records an increase from the previous number of 427.617 USD mn for 2016. Hong Kong HK: Trade Balance: Advanced Economies: Canada data is updated yearly, averaging 427.617 USD mn from Dec 1948 (Median) to 2017, with 67 observations. The data reached an all-time high of 2.131 USD bn in 2005 and a record low of -508.699 USD mn in 2015. Hong Kong HK: Trade Balance: Advanced Economies: Canada data remains active status in CEIC and is reported by International Monetary Fund. The data is categorized under Global Database’s Hong Kong – Table HK.IMF.DOT: Trade Balance: by Country: Annual.

The U.S. is the leader in global imports on the conveyor and conveying equipment market, accounting for a 14% share (based on USD). It was followed by China (8%), Germany (6%) and Canada (5%). In 2015, U.S. conveyor and conveying equipment imports totaled 2,613 million USD, which was 186 million USD (8%) more than the year before.

In 2023, the United States traded close to 799 billion U.S. dollars’ worth of goods with their neighbor. That year, the U.S. imported more goods from Mexico than it exported, leading to a trade deficit, or negative trade balance.

Mexico’s imports from the United States

The majority of cosmetics and personal care imports to Mexico originated from the U.S., while other Latin American countries, such as Colombia and Brazil, contributed significantly less in terms of import value. When it comes to apparel items, the United States was also among the leading trade partners for Mexico, although far behind China, where Mexico imported nearly all of its clothes from.

Leading product categories Mexico exports to the Unites States

The United States is Mexico’s most important trading partner when it comes to the export of cosmetics and personal care products. Canada, as the only other non-Latin American country on the list, was also among the leading export destinations. Furthermore, the United States is the main destination country for Mexico’s apparel exports.

In 2022, the total value of U.S. trade goods amounted to approximately 5.3 trillion U.S. dollars. This shows the significance and scale of international trade for the economy of the United States. In 2022, the United States imported goods valuing around 3.31 trillion U.S. dollars from international trading partners, in comparison the value of goods exported from the United States to other countries amounted to around 2.1 trillion U.S. dollars.

Import and export trade
The import of trade goods relate to goods brought into the United States. This typically refers to goods grown, produced, or manufactured in other countries. Imports include goods of domestic origin which have been worked on abroad before reentering the United States. The export of trade goods refer to goods sold internationally which were grown, produced, or manufactured in the United States. It also includes commodities of foreign origin which have been changed in the United States from the form in which they were imported, or which have been enhanced in value or condition by further processing or manufacturing within the United States before again being sold internationally.

Leading trade partners of the United States
In 2022, China was the largest source of goods imported into the United States, with goods valuing approximately 537 billion U.S. dollars. Mexico and Canada were the second and third largest exporters of goods to the United States, respectively. In 2021, Canada was the leading destination of goods exported from the United States, with U.S. trade goods worth over 300 billion U.S. dollars exported to Canada. Mexico and China also feature at the top of the list of importers of U.S. goods.

“Renewable Energy Trade Imbalance – Will WTO Scanner Revive the Situation” is the latest issue report from GlobalData, the industry analysis specialists that offer comprehensive information on the global renewable energy policies violating the WO agreements. The research gives detailed Global analysis and gives local content policies and export-import restrictions imposed by major countries around the globe. This research also gives detailed analysis of the impact of these policies of the markets in key countries namely the US, China, Ontario (Canada), India, the EU and Brazil. The study provides expected market growth up to 2015 for the countries. Moreover, the report covers the WTO agreements which are being violated by the renewable policies. Information on the WTO allegations on these policies favoring the domestic market of the renewable the industry has also been dealt with in detail. The report is built using data and information sourced from proprietary databases, primary and secondary research and in-house analysis by GlobalData’s Team of industry experts. Read More

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Foreign Exchange Market Size 2025-2029

The foreign exchange market size is forecast to increase by USD 582 billion at a CAGR of 10.6% between 2024 and 2029.

The market continues to evolve, driven by several key trends and challenges. One significant trend is the increasing use of money transfer agencies, venture capital investments, and mutual funds in foreign exchange transactions. The Internet of Things (IoT) and artificial intelligence (AI) revolutionize banking and financial services, enabling real-time personal finance software and content delivery for travelers and businesses. The uncertainty of future exchange rates fuels the demand for 24x7 trading opportunities. As urbanization progresses and digitalization becomes more prevalent, the market is expected to grow, offering numerous opportunities for businesses and investors.

What will be the Size of the Foreign Exchange Market During the Forecast Period?

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The market, also known as the forex or FX market, is a decentralized global market for the trading of currencies. It facilitates the conversion of one currency into another for various reasons, including international trade, tourism, hedging, speculation, and investment. Participants in this market include financial institutions, non-financial customers, individuals, retailers, corporate institutes, and central banks. Currencies are traded 24 hours a day, five days a week, due to the presence of multiple time zones and the interbank network.
Currency swaps, interest rate differentials, monetary interventions, economic indicators, political developments, and investment flows are some of the key drivers influencing the market. International trade, balance of payments, and economic instability in various countries also significantly impact currency values. Speculation and hedging activities, particularly by corporations and financial institutions, contribute to the volatility of currency rates. The market is increasingly leveraging artificial intelligence and Internet of Things technologies to optimize trading strategies, with mutual funds utilizing these advancements to enhance portfolio performance and manage currency risk more efficiently. The forex market plays a crucial role in facilitating international business transactions and managing risks associated with currency fluctuations.

How is this Foreign Exchange Industry segmented and which is the largest segment?

The industry research report provides comprehensive data (region-wise segment analysis), with forecasts and estimates in 'USD billion' for the period 2025-2029, as well as historical data from 2019-2023 for the following segments.TypeReporting dealersFinancial institutionsNon-financial customersTrade Finance InstrumentsCurrency swapsOutright forward and FX swapsFX optionsCounterpartyReporting DealersOther Financial InstitutionsNon-Financial CustomersGeographyNorth AmericaCanadaUSEuropeGermanyUKAPACChinaIndiaJapanSouth AmericaBrazilMiddle East and Africa

By Type Insights

The reporting dealers segment is estimated to witness significant growth during the forecast period. The market, also known as Forex or FX, is a global financial market where participants buy, sell, and exchange currencies. This market involves various market participants, including financial institutions, non-financial customers, and corporations. Currency swaps, individuals, retailers, corporates, hedge funds, wealth managers, and foreign exchange services are among the key players. The markets facilitate international trade and investment flows, with economic indicators, political developments, inflationary pressures, and interest rate differentials influencing currency values. Monetary interventions, speculation, and risk appetite are also significant factors.
Modern technology and electronic platforms have increased efficiency and accessibility, enabling 24-hour operation. Currency exchange services, monetary policies, and regulations, including those by central banks, impact the market. Economic events, financial crises, and strategic corporate activities can cause volatility. Hedging strategies, accessible platforms, and personal finance considerations are essential for individual investors, small businesses, and multinational corporations dealing with major currency pairs. Online trading platforms and trade balances are crucial for managing currency risks in an increasingly globalized business environment.

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The Reporting dealers segment was valued at USD 278.60 billion in 2019 and showed a gradual increase during the forecast period.

Currency pairs are the foundation of forex trading, with spot trading being one of the most common methods of buying and selling currencies. Forward contracts and swap deals offer traders the ability to lock in exchange rates for future transactions, managing ris

加拿大 CA: Trade Balance: Advanced Economies: China, People Republic: Hong Kong在2018-05达498.048 美元 百万，相较于2018-04的172.855 美元 百万有所增长。加拿大 CA: Trade Balance: Advanced Economies: China, People Republic: Hong Kong数据按月度更新，1960-01至2018-05期间平均值为-3.300 美元 百万，共701份观测结果。该数据的历史最高值出现于2013-12，达621.321 美元 百万，而历史最低值则出现于1988-01，为-95.500 美元 百万。CEIC提供的加拿大 CA: Trade Balance: Advanced Economies: China, People Republic: Hong Kong数据处于定期更新的状态，数据来源于International Monetary Fund，数据归类于Global Database的加拿大 – Table CA.IMF.DOT: Trade Balance: by Country: Monthly。