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FACTS ON POLICY: Top Trading Partners
January 2, 2007
Canada is the United States' largest trading partner of goods.
With a population of only 32 million and a GDP of about (US) $1 trillion, Canada is the United States' largest trading partner. In 2005, total trade between the United States and Canada amounted to approximately $500 billion.
The United States exported about $211.4 billion worth of goods to its northern neighbor in 2005. The top three export categories account for about half this total figure. The top three U.S. export products to Canada were
• Transportation equipment, $54.3 billion
• Computer and electronic products, $25.1 billion
• Machinery (except electrical), $23.7 billion
Imports from Canada totaled $287.9 billion. The top three imports from Canada were
• Transportation equipment, $74.5 billion
• Oil and gas, $53.2 billion
• Chemicals, $18.2 billion
The United States currently conducts the most trade with its North American partners. Mexico has been United States’ second largest trading partner for the past few years, including 2005, during which time trade totaled $290 billion. Trade with China, however, has been slowly creeping up. For the last few months of 2006, total trade with China surpassed U.S. trade with Mexico.
Figure 1
U.S. Top Trading Partners (Imports and Exports), 2005
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