The value of goods Ontario exchanged with its trade partners totaled more than $713 billion in 2024, up less than half a percent from $710 billion the year before. In 2024, Ontario’s merchandise trade imports were nearly $461 billion while exports were just over $252 billion. Between 1999 and 2024 the value of Ontario’s international merchandise trade has grown from 84% from $387.6 billion to $713.1 billion.

The United States is Ontario’s top trade partner

Combining imports and exports, the United States was Ontario’s top trade partner in 2024, with more than $438 billion of goods exchanged. The United States made up 61% of Ontario’s total international merchandise trade in 2024, 8.7 times more than China, its second-largest trade partner. In 2024, goods exchanged with China reached $52 billion. Mexico, the United Kingdom, and Japan round out the top five at approximately $52 billion, $41 billion, and $32 billion, respectively.

Who are Ontario’s top export partners?

Ontario’s economy is deeply integrated with the United States, making it the top international destination for Ontario products. In 2024, the United States took in more than $194 billion, or about 77% of Ontario exports — more than eight times the United Kingdom ($23 billion), the next nation on the list of Ontario’s top export partners.

About a third of total exports to the United States are motor vehicles and parts, roughly 18% are consumer goods, and nearly 13% are metal and non-metallic products. In 2024, Ontario exported around $65 billion in motor vehicles and parts, 95% of which were sent to the United States.

The United Kingdom is the second-largest export market for Ontario. Of the $23 billion of goods Ontario exported to the United Kingdom in 2024, nearly 94% were metals and non-metallic products. Included among the top five export partners are Mexico, Switzerland, and China each taking in $4.08 billion, $2.9 billion, and $2.7 billion of goods, respectively.

Who are Ontario’s top import partners?

Ontario imported $460 billion of goods and services in 2024 of which more than half ($243 billion) were from the United States. Motor vehicles and parts were the top products coming into Ontario from its largest trade partner followed by consumer goods. China, second on the list, exported one-fifth as much to Ontario as the United States. Ontario purchased $49.7 billion of goods from China, of which about two-thirds of which were electronic and electrical equipment and parts and consumer goods.

Included among the top five import partners are Mexico, Japan, and South Korea, $36.9 billion, $13.9 billion, and $12.2 billion respectively.