Notable Trade and Investment Agreements
Notable trade and investment agreements between Canada and the other Comprehensive and Progressive Agreement for Trans‑Pacific Partnership (CPTPP) countries:
- Canada–United States–Mexico Agreement (2020) with Mexico
- Comprehensive and Progressive Agreement for Trans‑Pacific Partnership (2018)
- Canada–Peru Free Trade Agreement (2009)
- Canada–Peru Foreign Investment Promotion and Protection Agreement (2007)
- Canada–Chile Free Trade Agreement (1997)
- Canada–Japan Economic Partnership Agreement (under negotiation)
- Canada–Pacific Alliance Free Trade Agreement (under negotiation) with Mexico, Chile and Peru
Fundamentals
The Series
The Library of Parliament's Trade and Investment series:
- provides information on Canada's trade and investment relationship with the world and with selected countries;
- describes the trade relationship of each of Canada's 10 provinces and three territories with the world; and
- presents Canada's merchandise trade relationship with each of the United States' 50 states.
All dollar amounts are in Canadian dollars unless otherwise noted.
Numbers have been rounded.
Definitions are available.
Definitions appear at the end of the profile.
This Profile
Data on the United Kingdom, which is involved in the formal accession process to join the CPTPP, are not included in this profile.
The merchandise trade data are customs‑based; the services trade data and foreign direct investment data are balance of payments–based.
Services trade data do not include Brunei Darussalam and Peru because data for Canada's services trade with these countries are not available for 2019.
Data on foreign direct investment stocks in Canada do not include Brunei Darussalam, Peru and Viet Nam because data for these countries are not available for 2020.
The five most highly valued merchandise export and import categories have been identified using values for 2020.
All figures were prepared using Statistics Canada data available in summer 2021.
For the data tables used to generate the figures, see the HTML version of this profile at Trade and Investment Series 2020.
Detailed economic and population data on CPTPP countries are provided at the end of this profile.
- To display precise values: Hover over data points, bars and segments.
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In addition, you can download each chart individually to multiple formats by clicking on the "Download figure" button at the top right of the chart. Before downloading bar charts and charts with plotted points, you may turn datasets on or off.
Andrés León
Simon Richards
Economics, Resources and International Affairs Division
Parliamentary Information, Education and Research Services
Publication No. 2021-514-E
25 August 2021
Canada's Merchandise Trade With the Other CPTPP Countries
Bilateral merchandise trade in 2020: $90.1 billion
- Exports: $25.8 billion, a 6.7% decrease from 2019
- Imports: $64.3 billion, an 11.8% decrease from 2019
Trade deficit in 2020: $38.5 billion, a decrease from $45.2 billion in 2019
Exports in 2020: 4.9% of the total value of Canadian exports, an increase from 4.7% in 2019
Imports in 2020: 11.9% of the total value of Canadian imports, a decrease from 12.1% in 2019
Highest‑valued exporters to the other CPTPP countries in 2020:
- Ontario – $6.7 billion, a decrease from $7.5 billion in 2019
- British Columbia – $4.7 billion, a decrease from $6.0 billion in 2019
Destinations for merchandise exports to the other CPTPP countries, by country, in 2020:
- Japan – 48.0%
- Mexico – 23.8%
- Australia – 8.3%
- Singapore – 4.8%
- Chile – 3.8%
- All other CPTPP countries – 11.4%
Merchandise exports to Japan and to all other CPTPP countries in 2020:
- Japan – $12.4 billion, a decrease from $12.6 billion in 2019
- All other CPTPP countries – $13.4 billion, a decrease from $15.1 billion in 2019
Sources of merchandise imports from the other CPTPP countries, by country, in 2020:
- Mexico – 46.5%
- Japan – 21.0%
- Viet Nam – 12.7%
- Peru – 5.7%
- Malaysia – 4.7%
- All other CPTPP countries – 9.3%
Merchandise imports from Mexico and from all other CPTPP countries in 2020:
- Mexico – $29.9 billion, a decrease from $37.0 billion in 2019
- All other CPTPP countries –$34.4 billion, a decrease from $35.9 billion in 2019
Exports in 2020:
- Resource‑based goods – 35.2%, an increase from 32.0% in 2019
- Manufactured goods – 64.8%, a decrease from 68.0% in 2019
Highest‑valued exports in 2020: Canola and wheat, together accounting for 14.6% of the total value of Canadian exports to the other CPTPP countries
- Canola: $1.9 billion, an increase from $1.6 billion in 2019
- Wheat: $1.9 billion, an increase from $1.6 billion in 2019
Imports in 2020:
- Resource‑based goods – 11.5%, an increase from 9.9% in 2019
- Manufactured goods – 88.5%, a decrease from 90.1% in 2019
Highest‑valued imports in 2020: Motor vehicles and gold, together accounting for 16.7% of the total value of Canadian imports from the other CPTPP countries
- Motor vehicles: $7.3 billion, a decrease from $9.5 billion in 2019
- Gold: $3.5 billion, an increase from $3.0 billion in 2019
Largest merchandise trade deficit in 2020: Machinery and equipment, at $16.7 billion
Largest merchandise trade surplus in 2020: Agriculture and food, at $2.1 billion
Canada’s Services Trade With the Other CPTPP Countries
Services trade between Canada and selected other CPTPP countries in 2019: $19.9 billion
- Exports: $8.0 billion, a 5.5% increase from 2018
- Imports: $12.0 billion, a 3.8% increase from 2018
Trade deficit in 2019: $4.0 billion, unchanged from 2018
Services trade data do not include Brunei Darussalam and Peru because data for Canada's services trade with these countries are not available for 2019
Services trade deficit in 2019: Largely due to travel services trade
Travel services
- Exports: $3.1 billion
- Imports: $5.3 billion
Commercial services
- Exports: $3.3 billion
- Imports: $3.0 billion
Transportation and government services
- Exports: $1.6 billion
- Imports: $3.7 billion
Services trade data do not include Brunei Darussalam and Peru because data for Canada's services trade with these countries are not available for 2019
Destinations for services exports to selected other CPTPP countries in 2019:
- Mexico – 24.9%
- Japan – 23.7%
- Australia – 23.5%
- Singapore – 11.5%
- Viet Nam – 6.2%
- Other CPTPP countries – 10.2%
Services trade data do not include Brunei Darussalam and Peru because data for Canada's services trade with these countries are not available for 2019
Sources of services imports from selected other CPTPP countries in 2019:
- Mexico – 35.4%
- Japan – 26.0%
- Singapore – 19.4%
- Australia – 11.0%
- Malaysia – 2.8%
- Other CPTPP countries – 5.3%
Services trade data do not include Brunei Darussalam and Peru because data for Canada's services trade with these countries are not available for 2019
Canada’s Foreign Direct Investment With the Other CPTPP Countries
Destinations for Canadian foreign direct investment in the other CPTPP countries in 2020:
- Australia – 35.3%
- Mexico – 21.6%
- Chile – 17.3%
- Peru – 11.3%
- Japan – 6.6%
- All other CPTPP countries – 7.9%
Sources of foreign direct investment in Canada from selected other CPTPP countries in 2020:
- Japan – 59.3%
- Australia – 31.9%
- Mexico – 4.1%
- Singapore – 2.4%
- Chile – 1.2%
- Other CPTPP countries – 1.1%
Data on foreign direct investment stocks in Canada do not include Brunei Darussalam and Viet Nam because data for these countries are not available for 2020
Profile of the CPTPP Countries
On 8 March 2018, Australia, Brunei Darussalam, Canada, Chile, Japan, Malaysia, Mexico, New Zealand, Peru, Singapore and Viet Nam signed the CPTPP. The agreement entered into force on 30 December 2018 for Australia, Canada, Japan, Mexico, New Zealand and Singapore, followed by Viet Nam on 14 January 2019. In February 2021, the United Kingdom formally requested accession to the CPTPP. The request was approved in June 2021, and the accession process is under way.
| Country | GDP at PPP (2020, US$) | GDP per Capita at PPP (2020, US$) | Population (2020) | Merchandise Exports and Imports as a Percentage of GDP at Official Exchange Rates (2020) |
|---|---|---|---|---|
| Australia | 1.3 trillion | 52,400 | 25.7 million | 34.8% |
| Brunei Darussalam | 28.7 billion | 65,700 | 437,500 | 94.8% |
| Canada | 1.8 trillion | 48,100 | 38.0 million | 49.0% |
| Chile | 479.2 billion | 25,100 | 19.1 million | 52.5% |
| Japan | 5.3 trillion | 41,700 | 125.8 million | 25.2% |
| Malaysia | 902.6 billion | 27,900 | 32.4 million | 125.9% |
| Mexico | 2.4 trillion | 18,800 | 128.9 million | 75.5% |
| New Zealand | 224.8 billion | 44,200 | 5.1 million | 36.1% |
| Peru | 391.5 billion | 11,900 | 33.0 million | 38.9% |
| Singapore | 560.2 billion | 98,500 | 5.7 million | 203.6% |
| Viet Nam | 842.0 billion | 8,700 | 97.3 million | 201.1% |
| CPTPP (estimates) | 14.3 trillion | 27,900 | 511.5 million | N/A |
Notes:
Gross domestic product (GDP) at purchasing power parity (PPP) for the CPTPP countries collectively was calculated by summing the values for the 11 CPTPP countries.
GDP per capita at PPP was calculated by dividing the estimated GDP at PPP for the CPTPP countries collectively by the estimated population of the CPTPP countries collectively.
The estimated population for the CPTPP countries collectively was calculated by summing the population for the 11 CPTPP countries.
Source:
World Bank's World Development Indicators database.