The United States and Canada – Trade Overview

The United States and Canada enjoy the largest bilateral trade and investment relationship in the world. In 2013, two-way trade between Canada and the United States topped $632.3 billion.  Exports to Canada were approximately $300.3 billion, making it the largest export destination for the U.S.  According to recent figures, U.S. companies invested approximately $351.5 billion into Canada and Foreign Direct Investment from Canada into the U.S. was more than $225.3 billion.

tradeThe Canadian Privy Council reported that in 2013, $2 billion worth of goods and services crosses the Canada-U.S. border daily, which is the equivalent of $1.4 million traded every minute. According to an August 2012 study by the Canadian Embassy in Washington, D.C.​

Florida Trade is Big Business with Canada Contributing $4.49 Billion Annually

Florida’s trade with Canada is impressive and represents real opportunities to promote additional north-south business and tourism investments. According to the Florida Chamber of Commerce, Canada is the Sunshine State’s number one export market for agricultural products – with 22 percent of Florida’s agricultural exports going north while at the same time fueling economic growth and job creation here in Florida. Additionally, Canada is the number two destination country for all Florida exports – trailing only Brazil.

With more than 47,500 commercial farms accounting for 65 percent of total U.S. citrus production and ranking second in the nation in the value of vegetable production, Florida’s vibrant agriculture industry is a leading pillar of Florida’s thriving economy.

In addition to thriving trade relations with Canada, nearly four million Canadians visit Florida each year and spend about $4.4 billion in our state. Furthermore, Canadians have been the leading foreign purchaser of Florida real estate for several years running and accounts for about 30 percent of all homes purchased by foreigners in 2013 in the nation, and about five percent of all homes purchased in Florida.

Global trade means high-wage jobs and economic prosperity for Florida. The Sunshine State is home to more than 60,000 firms dedicated to bringing their goods and services to consumers around the globe. International business and foreign direct investment accounts for approximately 17 percent of Florida’s economic activity, and directly supports more than 1 million Florida jobs.

For additional information refer to US-Canada Working Together – Florida

We invite you to join as a member of the recently established Canada-Tampa Bay Chamber of Commerce. Working in concert with the Consulate General of Canada at Miami, and with businesses and institutions in both Canada and Florida, a primary purpose of the Chamber is to foster Tampa Bay’s partnership with Canada and to build increased cross-border trade and regional investment.  You too can contribute and benefit from these efforts.

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