The Manitoba Chambers of Commerce welcomed an opportunity to meet with U.S. Consul Bryan Koontz and Political/Economic Specialist Laura Pyles from the U.S. Consulate Winnipeg last week. The meeting focused on the importance of the trade relationship between our two countries, and opportunities for economic development, particularly in Northern Manitoba.
Canada and the United States share one of the largest trading relationships in the world, with over $1 trillion in bilateral trade in goods and services in 2021. That year, Canada was the largest U.S. trading partner in goods and services. Canada-U.S. trade is built on long-standing binational supply chains, whereby roughly 79% of Canadian goods exports to the U.S. are incorporated into U.S. supply chains.
Even during the pandemic when borders were closed, 93% of commercial trade was still crossing the border. Thirty-seven U.S. states look to Canada as their primary export market. This speaks to the significance of our bilateral relationship.
In this year’s Business Outlook Survey, we asked Manitoba’s business community about the importance of trade for our province’s economy. Eighty-five percent of survey respondents told us that it is important for the provincial government to have a clear strategy to build international trade opportunities for Manitoba businesses. A renewed provincial trade strategy is critically important for Manitoba’s economy, and something that the Manitoba Chambers of Commerce continues to advocate for.
See the full Manitoba Business Outlook Survey Report.