Canada France. Alexandre Gauthier Raphaël Guévin-Nicoloff. Publication No E 25 November 2011

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1 Canada France Publication No E 25 November 2011 Alexandre Gauthier Raphaël Guévin-Nicoloff International Affairs, Trade and Finance Division Parliamentary Information and Research Service

2 Canada France (Trade and Investment Series) HTML and PDF versions of this publication are available on IntraParl (the parliamentary intranet) and on the Parliament of Canada website. Ce document est également publié en français. The Library of Parliament Trade and Investment series provides information on Canada s trade and investment relationship with selected countries. Particular attention is paid to bilateral merchandise trade, trade in services, and foreign investment. These publications are prepared by the Parliamentary Information and Research Service, which carries out research for and provides information and analysis to parliamentarians and Senate and House of Commons committees and parliamentary associations. Publication No E Ottawa, Canada, Library of Parliament (2011)

3 CONTENTS MERCHANDISE TRADE... 1 PRODUCTS... 2 SERVICES AND INVESTMENT... 3 LIBRARY OF PARLIAMENT i PUBLICATION NO E

CANADA FRANCE Merchandise Trade Figure 1 In, Canada s bilateral merchandise trade with France totalled $7.7 billion, consisting of $2.3 billion in Canadian exports to, and $5.

In, France was Canada s 11 th largest destination for exports globally, and its fourth largest destination for exports in the European Union (EU), a region that includes 27 countries.

5 CANADA FRANCE Merchandise Trade Figure 1 In, Canada s bilateral merchandise trade with France totalled $7.7 billion, consisting of $2.3 billion in Canadian exports to, and $5.4 billion in imports from, the country. In, France was Canada s 11 th largest destination for exports globally, and its fourth largest destination for exports in the European Union (EU), a region that includes 27 countries. It was also Canada s eighth largest source of imports in the world, and its third largest source of imports from the EU in that year. The value of Canada France trade as a share of Canada s total trade has experienced a relatively small decrease over time. As a share of Canada s global exports, the value of Canadian exports to France decreased from 0.8% in 1995 to 0.6% in. Similarly, the value of Canadian imports from France as a share of Canada s total imports fell from 1.4% in 1995 to 1.3% in. Over the 2005 to period, the value of Canadian exports to France declined at an average annual rate of 1.5%, compared to an average annual rate of decrease of 1.8% to the rest of the world. Over the period, average yearly growth in the value of Canadian imports from France, at 1.7%, exceeded average yearly growth in imports from the rest of the world, at 1.2%. At the provincial level, Quebec accounted for the majority of Canada s trade with France in, with exports valued at $1.1 billion. Ontario was the nextlargest provincial exporter, with exports to the country valued at $820.9 million in that year. Newfoundland and Labrador has been Canada s fastest-growing provincial exporter to France in recent years, with an average growth rate of 24% per year over the 2005 to period. 2,00 1,50 1,00 0,50 0,00-0,50-1,00-1,50-2,00 Merchandise Trade Trade balance 8 Total exports 6 Total imports ,7 Figure 2 Importance to Canada Average yearly growth (%): 2005 France World Exports Imports 1,2 0,8 1,4 0,5-1,5-1,8 Exp. Imp Alberta 3,5% B.C. 4.1% Figure 3 Share of total trade (%): 1,2 1,3 0,6 0,6 Exports by Province/Territory Sask. 0,6% Manitoba 1,6% Quebec 48,1% Atlantic 7,1% Ontario 35,0% Territories 0,0% 1,3 1,6 1,4 1,2 1 0,8 0,6 0,4 0,2 0 All figures were prepared by the authors using Statistics Canada annual figures as of spring The merchandise trade data are customs-based; the services trade and foreign direct investment data are balance of payments-based. LIBRARY OF PARLIAMENT 1 PUBLICATION NO E

6 CANADA FRANCE Products Figure 4 In, manufactured goods accounted for 84% of the value of Canada s total exports to France, while resource-based products represented the remaining 16%. The composition of Canada s exports to the country has changed somewhat since 2005, when manufactured goods and resource-based products accounted for 92% and 8% respectively of the value of exports to France. Canada s highest-valued export products to France in were aircraft turbines, iron ores, aircraft parts and vaccines. Canada has experienced strong growth in the value of exports of machinery and equipment as well as of metal ores to France in recent years. In particular, the value of Canadian exports of turbojets and turbo propellers as well as iron ores to the country rose by 44% and 951% respectively over the 2005 to period. Canada s imports from France consist almost exclusively of manufactured goods. In, manufactured goods accounted for 99.8% of the value of Canada s imports from France, which is relatively consistent with 2005, when 99.7% of the value of Canadian imports from the country was manufactured goods. Canada s highest-valued import products from France in were pharmaceutical products, aircraft, wine and beauty products. Over the 2005 to period, the value of Canadian imports of pharmaceutical products from the country increased by 68%. In, Canada had trade deficits with France in all sectors, with the exception of metals, mines and energy. Major Export Products $ millions Machinery and equipment Ores, slag, ash Aircraft and parts Electr., electron., etc. Pharmaceuticals Specialized instruments 2005 Wood pulp, scrap paper Figure 5 Major Import Products $ millions Pharmaceuticals Aircraft and parts Machinery and equipment Beverages, spirits, vinegar Specialized instruments 2005 Electr., electron., etc. Oils, perfumes, cosmetics, etc. Organic chemicals Figure 6 Balance by Category $ millions Agriculture and food Metals, mines, energy Clothing, textiles, etc. Machinery and equipment 2005 Transportation equipment Other manufactured goods Other All figures were prepared by the authors using Statistics Canada annual figures as of spring The merchandise trade data are customs-based; the services trade and foreign direct investment data are balance of payments-based. LIBRARY OF PARLIAMENT 2 PUBLICATION NO E

7 CANADA FRANCE Services and Investment Figure 7 In 2009, the most recent year for which data are available, the value of Canadian services exports to France totalled $1.9 billion, while services imports from the country were valued at $2.2 billion. These values represented an increase of 1% and a decrease of 12% respectively from 2008 levels. 3,0 2,5 2,0 1,5 Services Trade Balance Exports Imports Canada s deficit in services trade with France in 2009 can be accounted for by travel services as well as transportation and government services. In these services categories, Canada had a deficit of $230.0 million and $184.0 million respectively in that year. The value of Canadian imports of French travel services almost doubled between 2000 and In 2009, Canada had a trade surplus with France of $129.0 million in the commercial services category. 1,0 0,5 0,0-0,5-1, Figure 8 Canada has a relatively significant investment presence in France, with the stock of direct investment in the country reaching $8.8 billion in. In that year, France was Canada s 12 th largest foreign destination for investors and its fourth largest foreign investment destination in the EU. While it remains relatively significant, the stock of Canadian direct investment in France decreased by 44% from 2009 to. Transportation and gov't. Services Trade by Type 2009 Commercial Imports Exports France is a significant source of foreign investment in Canada, with a stock of direct investment of $19.0 billion in. France is the fifth largest source of foreign investment in Canada, and its fourth largest foreign investment source in the EU. The increase in French direct investment in Canada in 2000 was the result of the acquisitions of Newbridge Networks and the Seagram Company Limited by French companies in that year Travel 0,0 0,2 0,4 0,6 0,8 1,0 1,2 Figure 9 Foreign Direct Investment Canadian investment in France French investment in Canada All figures were prepared by the authors using Statistics Canada annual figures as of spring The merchandise trade data are customs-based; the services trade and foreign direct investment data are balance of payments-based. LIBRARY OF PARLIAMENT 3 PUBLICATION NO E

Canada Spain. Alexandre Gauthier* Publication No E 22 August 2012

Canada Spain. Alexandre Gauthier* Publication No E 22 August 2012 Canada Spain Publication No. 2012-65-E 22 August 2012 Alexandre Gauthier* International Affairs, Trade and Finance Division Parliamentary Information and Research Service Canada Spain (Trade and Investment