Exports to the United States
Fourth of July special
By Rob Roach, ATB Economics 4 July 2024 1 min read
Our American cousins are celebrating their 248th birthday today, so we are taking a quick look at exports from Canada and Alberta to the U.S.
The U.S. is, of course, Canada’s largest foreign customer, buying 77% ($595 billion) of our international merchandise exports last year.
The U.S. looms even larger in Alberta’s export mix, accounting for 89% ($162 billion) of last year’s sales.
Canada’s next largest customer is China at just 4% ($30.5 billion) of total merchandise exports last year.
China is also Alberta’s second largest international customer at 3% ($5.5 billion) of the province’s total foreign exports in 2023.
At 28% ($166.9 billion) of the total, the oil and natural gas industry (including refined products such as gasoline) accounted for the largest slice of Canada’s sales to buyers south of the border in 2023 (see the first chart below).
As Canada’s largest oil and natural gas producer, the sector accounted for 82% ($133 billion) of Alberta’s exports to the U.S. last year (see the second chart below).
The second largest category nationally is motor vehicle and parts manufacturing at 13% ($78 billion) of total exports to the U.S. in 2023 compared to just 0.3% ($548 million) of Alberta’s exports to the U.S. last year.
Agriculture and agri-food was Alberta’s second largest category at 5.0% ($8.8 billion), but only by a hair with chemical manufacturing exports less than $30 million behind.*
Agriculture and agri-food holds the third spot nationally at 10% ($59 billion) of Canada’s exports to the U.S. in 2023.
These numbers are a reminder of the magnitude of Canada’s and Alberta’s exports to the U.S. and of the large role played by oil and gas, the auto sector and agri-food in this regard.
*Chemical manufacturing typically takes second spot in Alberta but a wave of high prices pushed agriculture and agri-food past it in 2023.
Answer to the previous trivia question: According to the National Hot Dog and Sausage Council, Americans consume about 150 million hot dogs on Independence Day.
Today’s trivia question: Who is this year’s Calgary Stampede Parade Marshall?
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