The following 10 leading products generated a surplus subtotal of $141.7 billion for Canada in its global trade during 2021. Metrics listed below highlight Canada’s strongest competitive advantages over worldwide trading partners.

1. Crude oil: US$70.2 billion (Up 79.8% since 2020)
2. Sawn wood: $12.8 billion (Up 73.9%)
3. Petroleum gases: $12.4 billion (Up 132.6%)
4. Gold (unwrought): $8.6 billion (Up 16.9%)
5. Aluminum (unwrought): $7.7 billion (Up 48%)
6. Iron ores, concentrates: $7.3 billion (Up 42.2%)
7. Wheat: $6.6 billion (Up 5.1%)
8. Potassic fertilizers: $5.7 billion (Up 26.4%)
9. Coal, solid fuels made from coal: $5.4 billion (Up 92.6%)
10. Miscellaneous aircraft, spacecraft: $5.1 billion (Up 26%)

The leading gainers for Canada’s product surpluses from 2020 to 2021 were petroleum gases (up 132.6%), coal including solid fuels made from coal (up 92.6%), crude oil (up 79.8%), sawn wood (up 73.9%) and raw aluminum (up 48%).

The slowest percentage growth among Canada’s top product surpluses is attributable to wheat (up 5.1%).

The 10 major products below accumulated a deficit subtotal of -$58.6 billion for Canada in international trade during 2021. Canada has demonstrated the severest competitive disadvantages in the exports and imports of the following commodities.

1. Trucks: -US$13.4 billion (Up 31.7% since 2020)
2. Phone devices including smartphones: -$10 billion (Up 21%)
3. Computers, optical readers: -$9.8 billion (Up 16.6%)
4. Blood fractions (including antisera): -$7.4 billion (Up 67.7%)
5. Silver (unwrought): -$3.4 billion (Up 99.9%)
6. Automobile parts/accessories: -$3.22 billion (Down -39.4%)
7. Tractors: -$3.18 billion (Up 58.9%)
8. Heavy machinery (e.g. bulldozers, excavators): -$3.1 billion (Up 42.2%)
9. Insulated wire/cable: -$2.7 billion (Up 21.7%)
10. Trailers: -$2.5 billion (Up 77.9%)

On a percentage basis, Canada’s red ink in global trade expanded at the fastest rate for the following products: silver (up 99.9% from 2020), trailers (up 77.9%), blood fractions including antisera (up 67.7%), tractors (up 58.9%) then heavy machinery such as bulldozers and excavators (up 42.2%).

The sole decliner year over year were automobile parts or accessories (down -39.4%).

In 2021, Canada generated a surplus subtotal worth $157.4 billion with the following 10 trading partners.

1. United States: US$142.9 billion (Up 60% since 2020)
2. United Kingdom: $6.6 billion (Down -26.7%)
3. Hong Kong, China: $2.5 billion (Up 150.7%)
4. Norway: $1.7 billion (Up 67.4%)
5. United Arab Emirates: $1.1 billion (Down -1%)
6. Algeria: $814.7 million (Up 90.1%)
7. Netherlands: $706 million (Down -57.4%)
8. Malta: $498.4 million (Up 177.9%)
9. Iran: $295.5 million (Up 4.5%)
10. Bahamas: $275.8 million (Up 157.4%)

Year over year, Canada’s country-specific trade surplus increased by triple digits at the expense of Malta (up 177.9%), Bahamas (up 157.4%) and Hong Kong (up 150.7%).

Canada experienced a losing international trade relationship with over 10 countries (islands or territories) in 2021. The following 10 trade partners created a -$105.8 billion deficit subtotal in 2021 from Canada’s exchange of exports and imports on global markets.

1. China: -US$45.3 billion (Up 18.4% since 2020)
2. Mexico: -$20.1 billion (Up 13.7%)
3. Germany: -$9.7 billion (Up 18.9%)
4. Vietnam: -$7.3 billion (Up 32.4%)
5. Italy: -$6.3 billion (Up 58.5%)
6. Taiwan: -$4,.3 billion (Up 49%)
7. Brazil: -$4.2 billion (Up 26%)
8. Canada: -$3.8 billion (Up 25.9%)
9. South Korea: -$3.6 billion (Down -0.3%)
10. Thailand: -$2.6 billion (Up 27.1%)
11. France: -$2.4 billion (Up 19%)

Canada’s per-country deficits in 2021 expanded at the greatest pace since 2020 with: Italy (up 58.5%), Taiwan (up 49%), Vietnam (up 32.4%), Thailand (up 27.1%) and Brazil (up 26%).

The sole decliner year over year was a -0.3% slowdown in the deficit that Canada posted trading with South Korea.