Canada is a major trading nation, exporting hundreds of billions of dollars worth of goods annually. In 2024, Canadian merchandise exports totaled around C$721 billion (approx. US$569 billion), marking a slight increase from the previous year. The United States remained Canada’s dominant trade partner, accounting for roughly 75–76% of Canada’s goods export value (www150.statcan.gc.ca). This report highlights Canada’s top export destinations and products (goods only, latest data up to 2024), profiles leading export-focused companies in the private sector, and outlines how small and medium-sized enterprises (SMEs) in Canada can grow by starting to export, with relevant details and sources.
Top 10 Export Destinations for Canadian Goods (2024)
Canada’s export markets are heavily concentrated, with the United States by far the largest destination. Together, the top ten countries account for over 90% of Canada’s goods export value. In 2024, the leading destinations for Canadian merchandise exports were:
- United States – ~76.5% of Canada’s export value (about C$547 billion in goods exported to the U.S. in 2024. The U.S. is Canada’s largest buyer by a wide margin, chiefly importing Canadian energy, vehicles, and other manufactured goods.=
- China – ~3.8% of export value. China is Canada’s second-largest national market, importing commodities such as grains, minerals, and wood products.
- United Kingdom – ~3.6%. The UK is a major destination particularly for Canadian gold and other precious metals, as well as energy products.
- Japan – ~1.9%. Key Canadian exports to Japan include agricultural products (like canola and wheat), energy (LNG, coal), and seafood.
- Mexico – ~1.1%. Mexico, a NAFTA/USMCA partner, buys Canadian automotive parts, machinery, and metals among other goods.
- South Korea – ~1.0%. Exports to South Korea are led by mineral fuels, wood pulp, and agricultural products.
- Netherlands – ~0.9%. The Netherlands (often a gateway to the EU) imports Canadian crude oil and liquefied natural gas, as well as ores and chemicals.
- Germany – ~0.9%. Top Canadian exports to Germany include minerals, metals, and machinery.
- Switzerland – ~0.8%. Canada exports significant amounts of gold and pharmaceuticals to Switzerland.
- India – ~0.7%. Exports to India feature potash (fertilizer), pulses, and energy products.
These ten countries represent the most important markets for Canadian goods exports. The United States alone absorbs the vast majority, reflecting Canada’s strong North American trade ties, while the others (led by China, UK, and Japan) make up a much smaller share by comparison.
Source: www150.statcan.gc.ca and mostly worldstopexports.com.
Top 10 Exported Goods from Canada (2024)
Canada’s export profile is dominated by natural resources and automotive-related products. The largest export category by far is energy, followed by vehicles and mineral commodities. In 2024, the top ten categories of goods exported from Canada (by value) were:
- Mineral fuels (including oil) – US$145 billion (25.5% of total exports). This includes crude oil, natural gas, and refined petroleum – making energy products Canada’s single biggest export group.
- Vehicles (cars, trucks, parts) – $58 billion (10.2%). Completed automobiles and automotive parts (largely produced in Ontario) are Canada’s second-largest export, much of it destined for the U.S.
- Machinery (including computers) – $41 billion (7.2%). Industrial machinery, engines, computers and related equipment form a significant export category.
- Gems and precious metals – $34 billion (6.0%). This is driven mainly by gold exports (often to the UK and other financial hubs), as well as diamonds and silver.
- Electrical machinery & equipment – $17.4 billion (3.1%). Includes telecom equipment, electronics, and electrical components.
- Plastics and plastic articles – $16.0 billion (2.8%). Canada exports various plastic materials and molded products worldwide.
- Wood (lumber and wood products) – $13.5 billion (2.4%). Forestry products like sawn lumber are significant exports, especially to the U.S. and Asia.
- Aircraft and spacecraft – $13.2 billion (2.3%). This includes civilian aircraft, parts and satellites (Canada is known for business jets and aerospace technology, e.g. Bombardier aircraft).
- Aluminum – $12.8 billion (2.3%). Unwrought aluminum and aluminum products, primarily exported to the U.S. for the automotive and packaging industries.
- Ores, slag, and ash – $11.7 billion (2.1%). This category covers metal ores (like iron, nickel, copper) and ash; Canada is a major miner of such minerals.
These top 10 export product groups account for roughly 64% of Canada’s total export value, indicating a moderately concentrated export basket. Notably, energy products alone contribute about one-quarter of export revenues. In 2024, exports of precious metals grew the fastest (thanks to high gold demand), while vehicles saw a decline in value compared to 2023 Overall, Canada’s export mix underscores its strength in natural resources (oil, gas, minerals, lumber) and certain manufacturing industries (automotive and aerospace).
Source: worldstopexports.com
Top 10 Canadian Exporting Companies (Private Sector)
Canada’s largest export-oriented companies are primarily in the energy, mining, automotive, and food industries. All of these are privately owned or publicly-traded (i.e. not government-run). According to industry data, major Canadian firms driving the country’s merchandise exports include energy giants, mineral producers, and manufacturers. Ten notable examples are:
- Enbridge Inc. – A leading energy infrastructure company operating oil and gas pipelines. Enbridge’s network carries a large share of Canada’s crude oil exports to the U.S.(enbridge.com). (Its Mainline pipeline system alone transports ~58% of Canadian crude exports (cer-rec.gc.ca).)
- TC Energy – A major pipeline and energy company (formerly TransCanada) that exports Canadian natural gas and oil, including operating parts of the Keystone pipeline system.
- Suncor Energy – One of Canada’s largest oil producers (with oil sands operations). Suncor exports crude oil and refined petroleum products worldwide.
- Canadian Natural Resources Ltd (CNRL) – A leading independent oil & gas company, and among the top exporters of crude oil from Canada. CNRL’s production from the oil sands and elsewhere is largely for export markets.
- Nutrien Ltd. – The world’s largest potash fertilizer producer, formed from the merger of PotashCorp and Agrium (reuters.com). Nutrien exports millions of tonnes of potash and agricultural nutrients globally each year.
- Barrick Gold Corp. – A global mining company and one of the world’s largest gold producers. Headquartered in Toronto, Barrick exports gold and copper from its mines on several continents.
- Teck Resources Ltd. – A diversified mining company producing metallurgical coal, copper, zinc, and other metals. Teck is a major exporter of coal (for steelmaking) and base metals, with mines in Canada and abroad.
- Bombardier Inc. – An aerospace and transportation manufacturer known for its business jets (Challenger, Global series) and formerly rail equipment. Bombardier exports regional jets and private aircraft worldwide.
- Magna International – A top global auto parts supplier based in Canada. Magna manufactures automotive systems and components, exporting to major car manufacturers around the world.
- Saputo Inc. – One of the largest dairy and food processing companies in Canada. Saputo exports cheese, milk ingredients, and other food products to markets such as the U.S., Europe, and Asia.
These companies illustrate Canada’s export strengths: oil and gas producers and pipeline operators ship energy to foreign markets, mining firms export gold, coal and minerals, manufacturers like Bombardier and Magna send high-value finished goods abroad, and agribusiness/food companies supply global demand. All are key contributors to Canada’s export revenues(Note: All figures are for privately-owned enterprises. For example, government entities like Crown corporations are not included in this list.)
Source: Mostly worldstopexports.com and multiple others mentioned above (enbridge.com, cer-rec.gc.ca and reuters.com)
Strategies for Canadian SMEs to Expand via Exports
For Canada’s small and medium-sized enterprises, going global can unlock significant growth. By tapping into international markets, SMEs can diversify their customer base and increase revenues. However, exporting requires careful preparation and strategy. Below are key steps and resources for Canadian SMEs looking to start exporting:
- Develop a Strategic Export Plan: Begin with a clear strategy. Identify your product’s unique selling points and how they meet international market needs. Research and select target markets where there is demand for your offering. Conduct market analyses, understand the competition, and plan the logistics of selling abroad (pricing, distribution, etc.). A comprehensive export business plan should outline your goals, target customer segments, competitive advantages, marketing approach, and an action timeline. Also, be ready to adapt your product and marketing for local preferences – e.g. translate and localize your advertising materials for each market’s language and culture.
- Leverage Government Support Programs: Take advantage of the strong government support available to Canadian SMEs for export development. For example, the CanExport SMEs program (offered through the Trade Commissioner Service) can provide up to C$50,000 in funding per project, covering 50% of eligible costs like travel, trade show fees, market research, IP protection, and marketing adaptation. Eligible firms are Canadian for-profit SMEs with <500 employees and $100K–$100M in sales. The program’s goal is to help companies expand beyond the U.S. into new markets. The applications for this program are not being accepted at the time of publication but shall be available soon. In addition, Export Development Canada (EDC) offers financing and insurance solutions, and the Trade Commissioner Service (TCS) provides guidance, market intel, and introductions abroad to reduce the risks of exporting. These resources significantly lower barriers to entry for new exporters.
- Ensure Market Readiness and Compliance: Before entering a foreign market, make sure your business is export-ready. This includes understanding and complying with regulations/standards in the target country (product standards, packaging, customs documentation, etc.), and adjusting your product or service as needed. Customize your product and marketing for local market conditions (e.g. modify labels, sizes, or ingredients to meet foreign regulations or tastes) and build a distribution strategy suited to that market. Culturally tailored marketing – using the local language and messaging that resonates with local customers – can greatly enhance your product’s appeal.
- Seek Expertise and Plan Thoroughly: Don’t go it entirely alone – connect with experienced exporters and mentors. Seasoned exporters and industry trade associations can offer invaluable advice and networks. Utilize official export guides and templates (available from government agencies like TCS/EDC) to ensure you cover all bases in your export plan. There are a few private organizations that help Canadian Organizations to excel in Exports. Also, be diligent about logistics and after-sales arrangements: plan how you will handle shipping, distribution, payment from foreign buyers, as well as customer support or service in the new market Many new exporters underestimate challenges like foreign exchange, customs procedures, or providing support after the sale – careful planning can mitigate these issues.
- Be Patient and Committed: Expanding internationally is a long-term endeavor. It often takes 12–24 months to achieve success in a new export market, so start planning early and be prepared for a gradual process. Set measurable targets (e.g. sales volumes, number of new clients) and review progress frequently, adjusting your strategy as needed. Persistence is key – initial hurdles or slow sales are common, but with consistent effort and learning, SMEs can establish a foothold abroad over time
Above all, remember that while exporting can seem overwhelming, Canadian SMEs have access to top-notch assistance and established pathways to global expansion Organizations like the Trade Commissioner Service and EDC, along with various provincial programs and industry groups, are there to guide new exporters. By leveraging these resources and following a solid plan, even smaller Canadian firms can successfully expand their business through exports – tapping into new markets and opportunities worldwide.
Source: canadiansme.ca
Steer North International Consultancy Services Ltd. (SNICS Ltd.) – A private Canadian Export Consultancy in your corner
Thanks to US tariffs, Canada is experiencing a paradigm shift in international trade. Recent Government of Canada’s diplomatic strategies emphasize expanding Canadian trade beyond traditional partners and strengthening ties across Asia, Europe, and emerging economies. With new and modernized agreements, and a renewed focus on competitiveness, Canada is opening its doors wider than ever to global business. At the same time, international partners are increasingly looking to Canadian innovation, resources, and expertise. This two-way openness signals a new era of opportunity—where Canadian companies gain broader global access and the world finds a reliable, forward-looking partner in Canada.
Check out the upcoming blog for changes we are seeing and expecting in 2025 and 2026.
SNICS Ltd. helps you understand the nuances of export with respect to small and medium businesses of BC and rest of Canada:
- Free initial engagement session
- Personalised services
- Multiple consultancy fee payment options, including the ability to pay based on actual exports, so you only incur costs as and when you achieve success.
For many SMEs, the smartest first step is literally to call and book a session with SNICS Ltd for assistance with mapping your export.
February 28, 2025
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