The Numbers Behind the World’s Closest Trade Relationship
Numbers Behind the World’s Closest Trade Relationship
Whether we’re discussing the ancient merchants that traversed the legendary Silk Road, or the transfer of goods across modern border lines, trade has always been about building close relationships.
There are many examples of strong and mutually-beneficial trade relationships all throughout history, but one doesn’t have to look far back to find what could be considered the closest bilateral relationship ever known: the one between the United States and Canada.
These two countries are each other’s best customers, and they share the world’s longest international border (5,525 miles long). They are both Western democracies with shared cultural heritage and similar standards of living – and each day, the two countries exchange a whopping US$1.7 billion in goods and services.
Our infographic today highlights numbers and tangible examples behind this lengthy relationship between the U.S. and Canada.
America’s Best Customer
Despite China surpassing Canada in 2015 to become America’s largest trading partner in aggregate, the majority of Chinese trade comes in the form of imports ($462B imports vs. $115B exports). That means China is actually only the third-largest customer of American-made goods, buying about 8% of total U.S. exports in 2016.
The largest buyer of American goods is still north of the border – in fact, Canadians buy about 18% of total U.S. exports, which is more than twice that of China.
Here’s what Canada buys from the U.S.:
|#1||Vehicles & Auto Parts||$48.1 billion|
|#3||Electronic equipment||$23.9 billion|
|#4||Mineral fuels including oil||$15.5 billion|
|#6||Live trees and plants||$9.0 billion|
|#7||Medical, technical equipment||$8.1 billion|
|#8||Aircraft, spacecraft||$7.4 billion|
|#9||Iron or steel products||$5.5 billion|
|#10||Furniture, lighting, signs||$4.9 billion|
Canada is the most important international customer for 36 states – and every day the equivalent trade of all U.S./Japan happens over just one bridge (Ambassador Bridge) between Detroit, MI and Windsor, ON.
Canada’s Best Customer
Americans return the favor in a big way: an incredible 76% of Canadian exports are bought by Americans.
Here’s what the U.S. buys from Canada:
|#1||Vehicles & Auto Parts||$60.1 billion|
|#2||Mineral fuels including oil||$57.6 billion|
|#4||Live trees and plants||$18.9 billion|
|#7||Electronic equipment||$9.4 billion|
|#8||Gems, precious metals||$7.3 billion|
It’s estimated that 78% of Canadian exports to the U.S. are raw materials, parts and components, and services used to create other goods in the United States.
Through many years of trade, the supply chains between the two countries have become highly integrated.
Much of the time, the U.S. is buying raw materials and intermediate goods, which get used in final products destined for domestic and global markets. Many of those even get sold directly back to Canada.
This could be buying Canadian crude to reduce reliance on OPEC, importing low cost hydro electricity during times of heavy rainfall, or using Canada’s steady supply of aluminum to make more environmentally sound vehicles.
Few countries in the world have this kind of economic interdependence – and the history, integration, and value of goods traded makes this arguably the world’s closest bilateral trade relationship.
Graphene: An Investor’s Guide to the Emerging Market
The market value of graphene could reach $3.75 billion by 2030. As the emerging industry shows fast growth, it also faces obstacles.
Graphene: An Investor’s Guide to the Emerging Market
Graphene is an atomic-scale “honeycomb” that is revolutionizing the world of materials and capturing investor attention.
Experts predict that its market value could reach the billion-dollar threshold by 2027 and soar to a staggering $3.75 billion by 2030.
In this infographic sponsored by HydroGraph, we dive into everything investors need to know about this exciting industry and where it’s headed.
Graphene possesses several unique physical properties which contribute to its wide range of potential applications.
- 200 times stronger than steel
- Harder than diamonds
- 1,000 times lighter than paper
- 98% transparent
- Higher electrical conductivity than copper
- Heat conductivity: 5 times that of copper
- 2,630 m² of surface area per gram
Since its first successful isolation in 2004, graphene’s properties have opened the doors to a multitude of commercial applications and products.
Applications of Graphene
Graphene has permeated numerous sectors like electronics, energy, and healthcare because of its impressive array of end uses.
|Industry||Revenue CAGR of Graphene Across Industries, 2022-2027|
|Biomedical and Healthcare||52%|
|Electronics and Telecommunications||34%|
|Aerospace and Defense||16%|
|Other End-User Industries||17%|
Graphene’s antibacterial properties make it highly suitable for medical instruments and implants. Furthermore, it has shown remarkable potential in helping treat diseases such as cancer.
Another one of the material’s applications is its ability to emit high-speed light pulses, or to combine graphene’s thinness and high-conductivity to create the tiniest possible light sources.
All in all, it’s difficult to sum up graphene’s properties and potential applications in one place. The supermaterial has been covered and cited in thousands of academic journals, and comes up with over 2 million search results on Google Scholar.
Graphene has evolved from a scientific breakthrough to a commercial reality in less than two decades, putting it firmly on the radar of many future-focused investors.
But despite the strides the industry is making, it is still in its infancy, and therefore challenges exist on the path to widespread adoption. Here are the top five commercialization obstacles perceived by industry players.
|Obstacle||% of survey respondents|
|Production Methods, Scaling, and Distribution||21%|
|Lack of Knowledge/Awareness||15%|
When transitioning cutting-edge materials from the laboratory to consumer products, challenges like these can be expected. But one company is tackling them head-on.
By producing 99.8% pure graphene, and ensuring batch-to-batch consistency, HydroGraph is helping meet the growing demand for graphene products across industries while addressing challenges like cost, scale, and quality.
Interested in learning more? Explore investment opportunities with HydroGraph now.
You may also like
United States3 weeks ago
Charting the Rise of America’s Debt Ceiling
By June 1, a debt ceiling agreement must be finalized. The U.S. could default if politicians fail to act—causing many stark consequences.
Wealth3 weeks ago
Ranked: The World’s Top 50 Endowment Funds
Endowment funds represent the investment arms of nonprofits. See the worlds top 50, which collectively have over $1 trillion in assets.
Economy3 weeks ago
Visualizing the American Workforce as 100 People
Reimagining all 200 million of the American workforce as 100 people: where do they all work, what positions they hold, and what jobs they do?
Banks1 month ago
Visualized: Real Interest Rates by Country
What countries have the highest real interest rates? We look at 40 economies to analyze nominal and real rates after projected inflation.
Markets2 months ago
Ranked: The Largest Bond Markets in the World
The global bond market stands at $133 trillion in value. Here are the major players in bond markets worldwide.
Markets2 months ago
Visualized: The Largest Trading Partners of the U.S.
Who are the biggest trading partners of the U.S.? This visual showcases the trade balances between the U.S. and its trading partners.
Money4 weeks ago
Comparing the Speed of Interest Rate Hikes (1988-2023)
Demographics2 weeks ago
Ranked: The Cities with the Most Skyscrapers in 2023
War4 weeks ago
Map Explainer: Sudan
Base Metals2 weeks ago
Ranked: The World’s Biggest Steel Producers, by Country
Travel4 weeks ago
Visualized: The World’s Busiest Airports, by Passenger Count
Visual Capitalist2 weeks ago
Join Us For Data Creator Con 2023
AI4 weeks ago
Visualizing Global Attitudes Towards AI
Economy2 weeks ago
Charted: Public Trust in the Federal Reserve