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June 18, 2019

The European Union has a $15 billion trade surplus with Canada

According to Eurostat, the statistical office of the European Union (EU), in 2018 Canada was the EU's 12th largest partner for imports (2% of total extra-EU imports) and the 10th largest for EU exports (2% of total extra-EU exports).

The EU ran a trade surplus with Canada from 2008 to 2010. This turned into a trade deficit in 2011 and then became a surplus again in 2012, reaching 15 billion Canadian dollars (10 billion euros) in 2018.

EU exports to Canada were dominated by "machinery and vehicles", "chemicals" and "other manufactured goods", which together accounted for 81% of EU exports to Canada.

The same categories accounted for almost half of EU imports from Canada (45%). At a more detailed level, in terms of value, "cars and motor vehicles" were the EU's most exported product to Canada, while "non-monetary gold" was the main product imported into the EU from Canada.

Among the Member States, the United Kingdom was the largest importer of goods from Canada (17.9 billion Canadian dollars or 12 billion euros - consisting mostly of non-monetary gold), while Germany was the main exporter of goods to Canada (15 billion Canadian dollars or 10 billion euros) in 2018.


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