Canada eyes India trade breakthrough as exports diversify beyond US, new data shows

Exports to countries other than the United States reached an all-time high in December, rising 5.8% during the month, driven largely by stronger shipments of precious metals including unwrought gold.

That shift matters for policymakers seeking to reduce dependence on the US, which still dominates Canadian trade flows despite declining share.

According to Statistics Canada, exports to the United States accounted for 71.7% of total shipments in 2025, down from 75.9% the year before. Imports from the US also slipped as a proportion of total purchases, falling to 58.8%.

At the same time, trade activity with other countries accelerated sharply. Merchandise trade with non-US partners climbed to $553 billion in 2025, up 14.3% from the previous year.

Canada’s exports excluding precious metals actually declined overall last year, suggesting commodity prices — particularly gold — masked underlying softness across several sectors, including energy products, which posted the steepest annual drop due to lower prices.