Auto Sector Continues to Drive Trade Between Canada and the U.S.

Wednesday, June 21, 2017

AM800 CKLW News

 

http://www.iheartradio.ca/am800/news/auto-sector-continues-to-drive-trade-between-canada-and-the-u-s-1.2708864

 

The auto industry continues to drive trade between Canada and the U.S. with Michigan and Ohio two of the most vital states.

That's according to trade figures for 2016 just released by Statistics Canada.

Compared with international trade figures, Michigan would actually be Canada's second-largest trading partner ahead of China.

In 2016, exports to Michigan totaled $66 billion, representing 16.8% of all exports to the United States. More than half of these exports consisted of motor vehicles.

Imports from Michigan accounted for $29 billion or 10.4% of Canada's total imports from the United States in 2016.

More than half of these imports were motor vehicles or motor vehicle parts.

The strong integration of the auto industries between Michigan and Ontario make Michigan Canada's largest partner for both imports and exports with the United States.

The auto industries of Ohio and Ontario are also well integrated, contributing to $39 billion worth of merchandise trade between the two in 2016. 

Ohio was Canada's second most important import source by state, accounting for $23 billion or 8.3% of all imports from the United States.

Ohio was also the destination for $16 billion or 4.1% of Canada's exports to the United States, ranking it as the seventh-largest export state.

Overall in 2016, motor vehicles and parts accounted for more than one-fifth of all traded commodities between Canada and the United States.