EXPORTS, IMPORTS, and TRADE BALANCE

KEY TRENDS

• The U.S. merchandise trade deficit with Canada broke the $100 billion level in 2005 as Canada's natural resource-abundant economy strongly benefitted from rapidly rising world energy prices. The trade deficit with Canada in 2005 rose by 13 percent, mostly reflecting the much higher prices of imported petroleum, natural gas, coal, and electricity.
  
  
• U.S. imports of energy products from Canada increased 34 percent to $66.1 billion in 2005; U.S. imports of natural gas and crude petroleum accounted for most of this increase.
  
  
• Imports from Canada of transportation equipment, the single-largest category of U.S. merchandise imports, increased 6 percent to $77.2 billion as more fully-assembled motor vehicles, predominantly Daimler-Chrysler and GM models and a new Honda pickup truck, were imported.
  
  
• U.S. merchandise exports to Canada rose by 12 percent in 2005, benefitting from 3.0 percent growth in the real Canadian GDP as well as the stronger Canadian dollar that aided the major categories of U.S. merchandise sold in Canada--transportation equipment (autos and auto parts), chemicals, and minerals and metal products.
  

TRADE SHIFTS in 2005 from 2004

• U.S. trade deficit: Increased $11.8 billion (13 percent) to $104.3 billion
• U.S. exports: Increased $20.1 billion (12 percent) to $183.2 billion
• U.S. imports: Increased $31.9 billion (12 percent) to $287.5 billion
  
  

LINKS

OTHER GOVERNMENT RESOURCES
U.S. Department of Energy, Energy Information Administration

• Country Analysis Brief - Canada

U.S. Department of State

• Background Note: Canada

Canadian Department of Foreign Affairs and International Trade

• International Trade Canada
  

SECTOR SHIFTS

| Agricultural Products | Forest Products | Chemicals and Related Products |
| Energy and Related Products | Textiles, Apparel, and Footwear |
| Minerals and Metals | Machinery | Transportation Equipment |
| Electronic Products | Miscellaneous Manufactures |

COUNTRY SHIFTS