Canada / US Trade History
A look at Canada vs US trade deficits and surpluses through the years
Canada / US Trade
Since the early 60’s, considered the modern era of post World War II trade, the trade surpluses and deficits between Canada and the US has changed greatly.
In the 60’s and 70’s, trade was small compared to today, and the surplus/deficit numbers reflect that.
As trade expanded, and with the signing of NAFTA in 1994, those numbers increased with the United States having a surplus in most years from 1978 to 2008.
With increased revenues from Canadian oil, this changed in 2008, with Canada having a surplus from them to the present. If oil is removed from the equation, the US would have a substantial trade surplus.
In total, since 1961 the United States has had a trade surplus from Canada, totalling over $300 Billion US
- Numbers adjusted to 2023 US dollars, in billions, the latest year for which full statistics are available.
- Positive numbers are a US surplus / Canada deficit.
- Negative numbers are a Canada surplus / US deficit.
- Note that these numbers are for products only, and do not include services. If services revenue were included, the number would be tilted much more to a US surplus (roughly an additional $20B US in 2023).
The Data
The data for the above
| Year | Trade Deficit/Surplus | CPI (Average Annual) | 2023 Dollars |
|---|---|---|---|
| 2023 | -64.26 | 305 | -64.26 |
| 2022 | -78.19 | 293 | -81.49 |
| 2021 | -36.58 | 271 | -41.17 |
| 2020 | -25.56 | 259 | -30.12 |
| 2019 | -33.63 | 256 | -40.12 |
| 2018 | -28.94 | 251 | -35.15 |
| 2017 | -36.16 | 245 | -44.99 |
| 2016 | -36.04 | 240 | -45.80 |
| 2015 | -38.37 | 237 | -49.37 |
| 2014 | -16.35 | 233 | -21.40 |
| 2013 | -28.94 | 230 | -38.33 |
| 2012 | -34.55 | 228 | -46.29 |
| 2011 | -20.48 | 225 | -27.77 |
| 2010 | -30.30 | 218 | -42.38 |
| 2009 | -19.83 | 215 | -28.19 |
| 2008 | 27.43 | 215 | 38.86 |
| 2007 | 31.96 | 207 | 47.01 |
| 2006 | 36.32 | 202 | 54.95 |
| 2005 | 46.39 | 195 | 72.45 |
| 2004 | 45.82 | 189 | 73.98 |
| 2003 | 34.85 | 184 | 57.77 |
| 2002 | 33.55 | 180 | 56.88 |
| 2001 | 42.39 | 177 | 73.00 |
| 2000 | 42.10 | 172 | 74.57 |
| 1999 | 24.47 | 167 | 44.80 |
| 1998 | 12.54 | 163 | 23.46 |
| 1997 | 12.64 | 161 | 24.02 |
| 1996 | 24.83 | 157 | 48.27 |
| 1995 | 18.99 | 152 | 38.00 |
| 1994 | 6.79 | 148 | 13.97 |
| 1993 | 0.20 | 145 | 0.42 |
| 1992 | -2.02 | 140 | -4.39 |
| 1991 | -3.17 | 136 | -7.10 |
| 1990 | 0.92 | 131 | 2.15 |
| 1989 | 0.15 | 124 | 0.37 |
| 1988 | 3.77 | 118 | 9.72 |
| 1987 | 4.94 | 114 | 13.26 |
| 1986 | 3.45 | 110 | 9.60 |
| 1985 | 8.25 | 108 | 23.39 |
| 1984 | 12.12 | 104 | 35.58 |
| 1983 | 10.74 | 100 | 32.89 |
| 1982 | 11.86 | 97 | 37.48 |
| 1981 | 2.05 | 91 | 6.88 |
| 1980 | 4.66 | 82 | 17.25 |
| 1979 | 1.02 | 73 | 4.29 |
| 1978 | 0.48 | 65 | 2.25 |
| 1977 | -0.75 | 61 | -3.77 |
| 1976 | -1.87 | 57 | -10.02 |
| 1975 | -3.38 | 54 | -19.16 |
| 1974 | -0.16 | 49 | -0.99 |
| 1973 | 1.44 | 44 | 9.89 |
| 1972 | 0.66 | 42 | 4.82 |
| 1971 | 1.30 | 41 | 9.79 |
| 1970 | 1.94 | 39 | 15.25 |
| 1969 | -0.16 | 37 | -1.33 |
| 1968 | 0.66 | 35 | 5.78 |
| 1967 | 0.50 | 33 | 4.57 |
| 1966 | -0.11 | 33 | -1.03 |
| 1965 | -0.17 | 32 | -1.65 |
| 1964 | 0.48 | 31 | 4.74 |
| 1963 | 0.24 | 30 | 2.41 |
| 1962 | -0.16 | 30 | -1.63 |
| 1961 | -0.26 | 30 | -2.65 |
| Total | $304.20 Billion |