Export Opportunities for U.S. Businesses
KEY TRADE INDICATORS
Worth of U.S.
Buys 19% of All
ECONOMIC AND BUSINESS ENVIRONMENT
Canada continues to maintain its ranking as the United States’ largest export market in the world accounting for $365.8 billion (19% of total exports) of U.S. goods and services. There is continued optimism about the future of the U.S. Canadian relationship and the prospects for expanded trade and investment. North America represents 25% of the world’s GDP. This means businesses will continue to find viable markets for competitive products and services. In particular, new developments in shipbuilding, air-defense, safety and security, IT, infrastructure, mining, and renewable energy will create virtually limitless business opportunities.
TOP INDUSTRY EXPORT OPPORTUNITIES
Canada is a world leader in the production and use of energy from renewable resources, including solar, wind, hydro, biomass, and marine energy extraction. With this focus, power generation based on coal is being replaced with gas and renewable energy – wind/solar. 80% of power-generation facilities are scheduled to be replaced/upgraded during the next 10 - 15 years. An investment of $290 billion by 2030 will be made.
Automotive Parts and Services Equipment
Canada represents the second largest automotive market in North America, with 1.74 million light vehicles sold in Canada during 2013, up 4.0% from 2012. Canada also imported parts and components totaling US$37 billion which included motor vehicle transmission and power train parts, body and trailers, electric and electronic equipment, steering and suspension components.
Safety and Security Equipment
Canadian public and private sectors to update or purchase new security systems that provide leading-edge security control. Imports from the United States of safety security related products including first-aid equipment, biometric security, reinforced safes, burglar and fire alarms, as well as physical-access security related products totaled $1.14 billion in 2011. Most security products are imported. U.S. products account for about one-third of the security market.
TRADE REGULATIONS & CUSTOMS INFORMATION
Canada eliminated tariffs on all industrial and most agricultural products imported from the United States on January 1, 1998, under the terms of the NAFTA. Tariffs and tariff-rate quotas (TRQs) remain in place on dairy and poultry tariff lines.
The most important document required from a U.S. exporter is a properly completed Canada Customs Invoice or its equivalent that is required for all commercial shipments imported into Canada. The Canada Border Services Agency website has a list of required documents for import.
The North American Free Trade Agreement came into force and eliminated many export controls to reduce barriers to trade between the United States, Canada and Mexico. This allows these countries to ship their goods all across North America without any fees or Shipper's Export Declarations (SED’s).
Download Canada's Country Commercial Guide for more Customs and Trade Regulation Information
IMPORTANT COUNTRY GOVERNMENT ENTITIES
LOCAL U.S. SUPPORT CONTACT
Download the complete Country Commercial Guide
Source: U.S. Commercial Service