Across the United States' northern border lies the other half of the world's largest trade partnership. In 2014, the U.S. and Canada conducted US$521 billion worth of trade. More than 9 million U.S. jobs depend on trade with and investment in Canada, and more than 400,000 people cross the border every day to engage in various forms of commerce.
The trade partnership between the United States and Canada has been growing rapidly since 1989, when the Canada-U.S. Free Trade Agreement was enacted; two-way trade in goods and services has more than tripled since that agreement took effect. With roughly $1.73 billion in goods and services moving between the two countries daily, Canada offers considerable potential for organizations that want to invest in operations there.
The nation's proximity and stability make it an appealing destination for U.S. businesses, and it has caught the attention of many companies looking to expand in the wake of the U.S. economic recovery—particularly in light of the increase in consumer spending and the strengthening of the U.S. dollar. Nearly 60 percent of business owners and executives in the United States have been making plans to invest in their businesses, according to a recent BMO Harris Bank survey. And the most popular area of investment among those respondents was expanding operations. For companies wishing to strike while the economic iron is hot, now may be a great time to invest in cross-border operations. Canada is an obvious destination.
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