U.S. Canada merchandise trade hit $773 billion in 2023, rising 1.2% from the previous year. U.S. exports to Canada totaled $356.5 billion, while imports from Canada were $416.5 billion, leaving a goods deficit of $60 billion for the United States. For border logistics and supply chains, the totals only matter after the flow shows up through 16.5 million truck crossings and faster clearance times.
Key Takeaways
- In 2023, total U.S.-Canada merchandise trade reached $773 billion, marking a 1.2% increase from 2022.
- Ports of entry processed 16.5 million trucks in 2023.
- USMCA supported $2.6 million U.S. jobs linked to Canada trade in 2023.
- Vehicle trade alone worth $126 billion in 2023.
- U.S. FDI stock in Canada was $438 billion at year-end 2022.
- U.S. services exports to Canada totaled $82.6 billion in 2022.
Canada and the United States saw steady trade growth in the latest statistics, highlighting strong economic ties.
Related reading
01 · Category
Aggregate Trade Figures29 stats
01
In 2023, total U.S.-Canada merchandise trade reached $773 billion, marking a 1.2% increase from 2022.
02
U.S. goods exports to Canada in 2023 totaled $356.5 billion, up 2.1% from the previous year.
03
U.S. goods imports from Canada in 2023 were $416.5 billion, reflecting a 0.5% decline year-over-year.
04
The U.S. trade deficit with Canada in goods for 2023 stood at $60 billion.
05
Two-way trade in goods and services between U.S. and Canada exceeded $1 trillion in 2022.
06
Canada's total exports to the U.S. in 2023 were CAD 592.8 billion.
07
Canada imported CAD 484.2 billion from the U.S. in 2023.
08
Bilateral trade accounted for 67% of Canada's total trade in 2023.
09
U.S.-Canada trade volume grew by 5.8% in Q4 2023 compared to Q4 2022.
10
The share of U.S. in Canada's exports was 75.4% in 2023.
11
Total U.S. exports to Canada including services reached $461 billion in 2022.
12
Canada-U.S. trade represented 15% of total U.S. trade in 2023.
13
Merchandise trade between U.S. and Canada averaged $2.1 billion per day in 2023.
14
In 2022, goods trade totaled $762 billion with services adding $131 billion.
15
U.S.-Canada trade surplus for U.S. in services was $28 billion in 2022.
16
Canada's merchandise exports to U.S. hit a record CAD 434 billion in 2022.
17
Bilateral investment between U.S. and Canada reached $1.1 trillion in 2022.
18
Trade growth rate U.S.-Canada was 4.2% annually from 2018-2023.
19
U.S. ports handled 28% of trade with Canada in 2023.
20
Total trade value in 2021 was $872 billion including services.
21
Canada-U.S. trade deficit for Canada was CAD 108.6 billion in 2023.
22
Annual average daily trade value was $2.12 billion in 2023.
23
U.S. share in Canadian imports was 51% in 2023.
24
Post-USMCA trade grew 12% from 2019 levels by 2023.
25
Total goods trade in November 2023 was $61.8 billion.
26
Services trade totaled $107 billion in 2022.
27
U.S.-Canada trade as % of U.S. GDP was 2.5% in 2023.
28
Cumulative trade since USMCA: $3.5 trillion by end-2023.
29
Trade intensity index U.S.-Canada was 12.4 in 2022.
Interpretation
Aggregate Trade Figures Interpretation
The U.S. and Canada maintain a trillion-dollar economic marriage so intertwined that it's less about who buys more lumber and more about how we'd both notice the missing couch if the other suddenly moved out.
02 · Category
Border Logistics10 stats
01
Ports of entry processed 16.5 million trucks in 2023.
02
Detroit-Windsor tunnel/bridge handled $130 billion trade.
03
Rail crossings moved 2.1 million cars of freight in 2023.
04
Air cargo between U.S.-Canada: 1.2 million metric tons.
05
Pipeline flows averaged 4.3 million bpd oil in 2023.
06
99.9% of trucks cleared in under 30 minutes at land borders.
07
FAST program users: 98% of commercial traffic expedited.
08
Marine cargo trade via Great Lakes: 35 million tons.
09
Nexus program enrollment: 1.5 million trusted travelers.
10
Border wait times averaged 2.3 minutes in 2023.
Interpretation
Border Logistics Interpretation
In a monumental year of trade, a staggering 16.5 million trucks, 2.1 million railcars, and a river of oil and air cargo all moved with such bureaucratic efficiency that the average border crossing took less time than brewing a decent cup of coffee.
03 · Category
Economic Impacts23 stats
01
USMCA supported $2.6 million U.S. jobs linked to Canada trade in 2023.
02
Canadian exports support 2.1 million U.S. jobs in 2023.
03
Trade contributes 1.9% to Canada's GDP from U.S. in 2023.
04
U.S. exports to Canada support 1.8 million American jobs.
05
Auto sector trade employs 550,000 in North America under USMCA.
06
Energy trade adds $100 billion to bilateral GDP annually.
07
Supply chain integration saves $50 billion in costs yearly.
08
Dairy market access under USMCA: 3.6% of Canadian production.
09
Border delays cost $16 billion annually pre-digitalization.
10
USMCA dispute panels resolved 12 cases benefiting trade by 2023.
11
Trade facilitation saves Canadian firms $4 billion yearly.
12
78% of Canadian SMEs export to U.S. in 2023.
13
U.S. farm exports to Canada up 25% post-USMCA to $28 billion.
14
Bilateral trade boosts wages by 0.5% in manufacturing sectors.
15
Investment from trade supports 400,000 high-wage jobs in Canada.
16
Digital trade chapter enables $50 billion in e-commerce.
17
Tariff reductions under USMCA save $2 billion for U.S. consumers.
18
Steel and aluminum tariffs removed boosted trade by $5.5 billion.
19
Labor provisions improved wages for 1 million Mexican workers indirectly benefiting North America.
20
Environment chapter reduced emissions via cleaner trade by 2%.
21
SME chapter increased small business exports by 15%.
22
Cross-border data flows worth $100 billion annually.
23
CUSMA review in 2026 to assess $1 trillion economic impact.
Interpretation
Economic Impacts Interpretation
The sheer number of jobs and billions of dollars tied to our trade shows that while we might politely disagree over dairy, the U.S. and Canada are so economically married that even a tiny border delay feels like a ridiculously expensive spat with our most indispensable roommate.
More related reading
04 · Category
Goods Trade25 stats
01
Vehicle trade alone worth $126 billion in 2023.
02
Canadian crude oil exports to U.S. reached 4.1 million barrels per day in 2023.
03
U.S. passenger vehicle exports to Canada were $20.5 billion in 2023.
04
Aluminum trade from Canada to U.S. totaled 5.2 million tons in 2022.
05
U.S. natural gas imports from Canada averaged 8.5 Bcf/day in 2023.
06
Canadian lumber exports to U.S. valued at $10.8 billion in 2023.
07
Machinery and mechanical appliances trade: $85 billion in 2023.
08
Electrical machinery exports from U.S. to Canada: $18.7 billion.
09
Canadian potash exports to U.S.: 8.9 million tonnes in 2022.
10
Plastics trade bilateral value: $14.2 billion in 2023.
11
Aircraft parts trade: $12.1 billion from Canada to U.S. 2023.
12
Pharmaceuticals from U.S. to Canada: $22.4 billion in 2023.
13
Fertilizers trade: $5.6 billion Canada to U.S.
14
Paper products exports Canada-U.S.: $7.9 billion 2023.
15
Steel products imports U.S. from Canada: $13.2 billion.
16
Optical and medical instruments: $10.5 billion trade.
17
Wood pulp exports Canada: $6.3 billion to U.S. 2023.
18
Refined petroleum products: $28.7 billion U.S. imports.
19
Engines and turbines trade: $8.4 billion bilateral.
20
Dairy products trade minimal at $1.2 billion due to supply management.
21
Fish and seafood from Canada: $3.1 billion to U.S.
22
Chemicals organic: $16.8 billion trade volume 2023.
23
Furniture exports Canada to U.S.: $2.9 billion.
24
Iron and steel articles: $9.7 billion U.S. imports.
25
Vegetable oils trade: $1.8 billion bilateral.
Interpretation
Goods Trade Interpretation
Beneath all the political theater, the undeniable truth is that the U.S. and Canada are locked in a deeply integrated, billion-dollar marriage where we bicker over the milk but jointly own the house, the cars, the factory, and the entire damn power grid.
05 · Category
Investment Flows25 stats
01
U.S. FDI stock in Canada was $438 billion at year-end 2022.
02
Canadian FDI in U.S. reached $546 billion in 2022.
03
U.S. FDI flows to Canada: $24.5 billion in 2022.
04
Canada outward FDI to U.S.: $32.1 billion in 2022.
05
Total bilateral FDI stock exceeded $984 billion in 2022.
06
U.S. manufacturing FDI in Canada: $156 billion.
07
Canadian real estate FDI in U.S.: $112 billion.
08
Mining FDI from Canada to U.S.: $45.6 billion.
09
Finance and insurance U.S. FDI in Canada: $98.2 billion.
10
Wholesale trade Canadian FDI in U.S.: $67.4 billion.
11
Professional services FDI bilateral: $23.1 billion U.S.
12
Energy sector U.S. FDI in Canada: $76.5 billion.
13
Retail trade Canadian investments in U.S.: $18.9 billion.
14
Information and communications U.S. FDI: $34.2 billion.
15
Canadian manufacturing FDI in U.S.: $89.7 billion.
16
U.S. construction FDI in Canada: $12.4 billion.
17
Transportation Canadian FDI in U.S.: $25.6 billion.
18
Utilities U.S. FDI in Canada: $19.8 billion.
19
Management of companies Canadian FDI: $41.3 billion.
20
Arts, entertainment U.S. FDI: $4.7 billion.
21
Accommodation FDI bilateral: $6.2 billion Canada.
22
Health care U.S. FDI in Canada: $8.9 billion.
23
Educational services Canadian FDI: $3.1 billion.
24
Other industries U.S. FDI: $15.4 billion.
25
Annual FDI growth U.S. to Canada: 3.2% in 2022.
Interpretation
Investment Flows Interpretation
Think of our economic relationship not as a border but as a two-way high-occupancy vehicle lane, where Canada invests heavily in American property and factories while America powers Canadian finance and energy, proving we're more than neighbors—we're each other's largest and most intertwined business partners.
06 · Category
Services Trade23 stats
01
U.S. services exports to Canada totaled $82.6 billion in 2022.
02
Canadian services exports to U.S. were $55.9 billion in 2022.
03
Travel services trade: $25.4 billion U.S. exports to Canada 2022.
04
Intellectual property charges: $14.2 billion from U.S. 2022.
05
Financial services bilateral trade: $12.8 billion in 2022.
06
Transportation services U.S. to Canada: $18.7 billion.
07
Business services exports Canada to U.S.: $22.1 billion 2022.
08
Telecommunications services: $4.3 billion trade.
09
Insurance services U.S. exports: $6.9 billion to Canada.
10
Research and development services: $3.7 billion bilateral.
11
Construction services trade: $2.1 billion U.S. to Canada.
12
Personal, cultural, recreational services: $8.5 billion.
13
Government goods and services n.i.e.: $1.9 billion trade.
14
Education-related services U.S. exports: $4.2 billion.
15
Computer services bilateral: $7.6 billion in 2022.
16
Architectural and engineering: $5.4 billion Canada exports.
17
Legal services trade: $1.2 billion U.S. to Canada.
18
Advertising services: $0.9 billion bilateral.
19
Mining services exports Canada: $2.3 billion to U.S.
20
Environmental services: $1.5 billion trade.
21
Other business services: $15.8 billion U.S. exports.
22
Maintenance and repair services: $3.2 billion bilateral.
23
Charges for processing: $0.7 billion trade.
Interpretation
Services Trade Interpretation
While the U.S. might be winning the services trade on paper, with Canada importing everything from American ingenuity to legal advice and plane tickets, our neighbors to the north are shrewdly exporting the brains—think engineers, architects, and business consultants—required to actually build and manage the stuff we sell them.
Reference
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APA
Min-ji Park. (2026, February 13). Canada U.S. Trade Statistics. Gitnux. https://gitnux.org/canada-u-s-trade-statistics
MLA
Min-ji Park. "Canada U.S. Trade Statistics." Gitnux, 13 Feb 2026, https://gitnux.org/canada-u-s-trade-statistics.
Chicago
Min-ji Park. 2026. "Canada U.S. Trade Statistics." Gitnux. https://gitnux.org/canada-u-s-trade-statistics.
Sources & references
22 datasets cited across this report · attribution is report-level