otals from Global Affairs / StatCan year-end wrap; partner lines mixed BOP and customs sources — UK jump is largely gold.
| Partner | Exports | Imports | Balance | Notes |
|---|---|---|---|---|
| All countries | 779.0 | 789.0 | −10.0 | GAC Highlights; StatCan BOP deficit cited as −31.3 on a different compilation |
| United States | ~558 (71.7% of exports) | ~464 (58.8% of imports) | +81.6 | Exports −5.8%; imports −2.9%; surplus down from +101.3 in 2024 |
| United Kingdom | 46.6–49.5 | ~10.8 | +36 to +39 | Gold-driven; exports +62% to +68% |
| China | 34.4–34.9 | 65.2 | −30 to −31 | Exports +15% |
| European Union | ~42.8 | ~78.2 | −35 | Exports +23% |
| Mexico | 8.9–9.4 | 35.0–53.4 | −25 to −44 | Imports +12% to +20% depending on series |
| Japan | 14.6 | 16.0 | −1.3 | Exports −3% |
| Germany | 9.2 | ~19–20 | deficit | Exports +35% |
| Netherlands | 9.5 | n/a in same cut | — | Exports +34% |
| South Korea | 7.1 | 16.0 | −8.9 | Exports −7% |
| Rest of world (ex-US) | +17.2% y/y | +12.4% y/y | −112.9 | Non-US two-way trade +14.3% to $553B |
Read-through
- U.S. still dominates, but export share fell to the lowest since the early 1980s (71.7–72.5% vs ~76% in 2024).
- Diversification in 2025 was real on the export side (Europe/UK/China) and was not enough to offset the U.S. drop.
- Canada ran a goods surplus with the U.S. and a large deficit with everyone else — same structure as prior years, wider gap.
Figures differ slightly by BOP vs customs, total vs domestic exports, and whether gold is booked to the UK. Use StatCan table 12-10-0171-01 for a full country list.
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