China becomes Canada's 2nd-largest trade partner

Updated: 2007-12-15 09:16

Canada's total merchandise trade with China soared in the last decade, hitting 42.1 billion Canadian dollars (US$41.7 billion) in 2006, federal agency Statistics Canada reported Friday.

China now accounts for five percent of Canada's total world trade. Since 2003, China has emerged as Canada's second largest trading partner, passing Britain and Japan, the report says.

In 2006, imports from China were five times higher than 1997 figures and exports to China tripled.

Leading commodities in the trade between Canada and China include chemicals, metals, industrial and agricultural machinery and equipment, wood products, fish products and other products.

"The growth in Canada's merchandise trade with China reflects the emergence of China as a global economic force over the past decade," says the report.

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