Canada-China Trade: 2022 YTD Canadian exports to China continued to have a weak 2022, falling 14.42% compared to the same time last year. In contrast, exports to other countries rose by 29.21%, showing that declining exports to China is an outlier in Canada’s broader export growth, which increased 27.11% overall.
What is the relationship between Canada and China?
Canada’s relationship with China is long-standing and dates from well before the establishment of diplomatic relations in 1970. Canada is represented by an embassy in Beijing and consulates general in Chongqing, Guangzhou, Hong Kong and Shanghai.
Does Canada still trade with China?
Merchandise trade with China totaled C$127.5 billion over the last 12 months through October, representing about 8.5% of trade flows, according to Statistics Canada. That compares with about 7% for all other major Indo-Pacific countries combined.
Why does Canada have a good trading relationship with China?
China is the world’s second largest economy and is the second most important bilateral commercial partner for Canada. Thus, China might be a key market if Canada is to achieve its export diversification target.
What is the trade balance between Canada and China?
In 2021, Canada’s trade deficit with China had reached 57 billion Canadian dollars, an increase from around 51.2 billion Canadian dollars in the previous year.
Merchandise trade balance of Canada with China from 2013 to 2021 (in billion Canadian dollars)
| Characteristic | Trade balance in billion Canadian dollars |
|---|---|
| – | – |
Who is Canada’s biggest ally?
the United States
Canada and the United States are key allies and defence partners, and we collaborate closely to address foreign policy crises and to defend shared values abroad.
Does Canada export anything to China?
Canada Exports to China was US$22.39 Billion during 2021, according to the United Nations COMTRADE database on international trade. Canada Exports to China – data, historical chart and statistics – was last updated on December of 2022.
Who is Canada’s closest trading partner?
Canada top 5 Export and Import partners
| Market | Trade (US$ Mil) | Partner share(%) |
|---|---|---|
| United States | 284,478 | 73.25 |
| China | 18,861 | 4.86 |
| United Kingdom | 14,855 | 3.83 |
| Japan | 9,244 | 2.38 |
What is Canada’s biggest import from China?
Automatic Data Processing Machines (4.94 billion, 12.0% YoY) and Telephone Sets including smartphones[2] ($3.68 billion, 3.2% YoY) were the top two import categories from China in 2022.
What is China’s biggest export to Canada?
| China Exports to Canada | Value | Year |
|---|---|---|
| Ceramic products | $634.09M | 2021 |
| Glass and glassware | $589.94M | 2021 |
| Iron and steel | $555.50M | 2021 |
| Paper and paperboard, articles of pulp, paper and board | $455.13M | 2021 |
Who are Canada’s largest trading partners?
Canada’s Top 5 Trading Partners
- United States—$337 billion (USD) (75.4% of total Canadian exports)
- China—$18 billion (USD) (3.9% of total Canadian exports)
- United Kingdom—US $15 billion (3.3% of total Canadian exports)
- Japan—US$9 billion (2.1% of total Canadian exports)
Is China important to Canada?
China is now Canada’s second largest goods trading partner, with recent annual trade (imports plus exports) value of around CAD$75 billion.
Why does Canada have a negative trade balance with China?
This is mainly due to the fact that China has a significant amount of manufacturing and processing facilities, and in many cases, a company outside of China is coordinating the production carried out in these facilities and is responsible for the final sale of the goods produced.
Who is China’s #1 trading partner?
United States
List of largest trading partners of China
| Rank | Country / Territory | China exports |
|---|---|---|
| 1 | United States | 429.7 |
| 2 | European Union | 375.1 |
| – | ASEAN | 277.9 |
| 3 | Japan | 137.2 |
Who is China’s No 1 trading partner?
United States
China top 5 Export and Import partners
| Market | Trade (US$ Mil) | Partner share(%) |
|---|---|---|
| United States | 452,493 | 17.48 |
| Hong Kong, China | 271,708 | 10.49 |
| Japan | 142,597 | 5.51 |
| Vietnam | 113,815 | 4.40 |
What goods does Canada get from China?
| Canada Imports from China | Value | Year |
|---|---|---|
| Electrical, electronic equipment | $16.47B | 2021 |
| Machinery, nuclear reactors, boilers | $14.01B | 2021 |
| Furniture, lighting signs, prefabricated buildings | $4.37B | 2021 |
| Toys, games, sports requisites | $3.56B | 2021 |
Is Canada a friend of Russia?
Diplomatic relations between Canada and the Russian Federation – previously the Union of Soviet Socialist Republics (USSR) – were formally established on June 12, 1942. Canada is represented in the Russian Federation through an Embassy in Moscow and an Honorary Consulate in Vladivostok.
How strong is Canada’s military?
For 2022, Canada is ranked 23 of 142 out of the countries considered for the annual GFP review. It holds a PwrIndx* score of 0.3601 (a score of 0.0000 is considered ‘perfect’).
Is Ukraine a Canadian ally?
On December 2, 1991, Canada became the first western country to recognize Ukraine’s independence. Canada and Ukraine have enjoyed a close relationship since. Our bilateral relationship is strengthened by warm people-to-people ties, rooted in the Ukrainian-Canadian community of 1.3 million people.
Who is Canada’s largest exporter?
Biggest Exporting Industries in Canada in 2022
- Oil Drilling & Gas Extraction in Canada.
- SUV & Light Truck Manufacturing in Canada.
- Sawmills & Wood Production in Canada.
- Petroleum Refining in Canada.
- Aircraft, Engine & Parts Manufacturing in Canada.
- Copper, Zinc & Lead Refining in Canada.
- Mineral & Phosphate Mining in Canada.
What is Canada’s No 1 export?
List of exports of Canada
| # | Trade item | Value |
|---|---|---|
| 1 | Crude petroleum | 75,259 |
| 2 | Cars | 47,632 |
| 3 | Refined petroleum | 18,715 |
| 4 | Aircraft, helicopters and spacecraft | 7,322 |