Market Snapshot: Overview of Canada-U.S. Energy Trade

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Release date: 2025-02-12

  • Canada and the United States (U.S.) have a highly interconnected energy systemFootnote 1. This summary of Canada’s trade at the national level illustrates these connectionsFootnote 2.
  • A network of dozens of pipelines transport crude oil, natural gas, natural gas liquids (NGLs), and refined petroleum products (RPPs) between Canada and the U.S. along with fleets of rail, marine, and freight vehicles. Additionally, 86 international power lines move electricity between provinces and states.
  • Exports of crude oil, RPPs, natural gas, and NGLs to the U.S. amounted to $163 billionFootnote 3 for the Canadian economy in 2023, representing 21% of Canada’s total goods exported globallyFootnote 4.
  • Imports of crude oil, RPPs, natural gas, and NGLs from the U.S. amounted to $36 billion in 2023, accounting for 4.7% of Canada’s total goods imported globallyFootnote 5.
  • In 2023, electricity imports from the U.S. were valued at $1.6 billion, accounting for 0.2% of all goods imported to Canada from all countries. Electricity exports to the U.S. in 2023 were valued at $4.3 billion, or 0.6% of all goods exported from Canada to all countries.

Figure 1: Annual Hydrocarbon Imports and Exports Categorized by Product (2015-2023)

Source and Text Alternative

Source: Canadian International Merchandise Trade Database (CIMT)

Text Alternative: This figure displays two yearly stacked bar charts of hydrocarbon exports and imports in barrel of oil equivalent per day (BOE/d) from 2015 to 2023. The left chart shows exports, and the right chart shows imports. The total value in billion dollars for each year is labeled at the top of each bar. 

Exports of Canadian energy to the U.S.Footnote 6

  • In 2023, Canada provided 58% of the volume of hydrocarbons imported by the U.S. More specifically, in 2023, Canada provided 60% of the crude oil and close to 100% of the natural gas imported by the U.S. Canada also supplied 21% of the RPPs and 95% of the NGLs imported by the U.S.
  • Canada was the source of 85% of the electrical energy imported by the U.S.

Canada-U.S. Hydrocarbon Trade

  • Though primarily a hydrocarbon-exporting nation, Canada imported 1.1 million barrels per day of oil equivalent (BOE/d) in 2023 from 66 countries. The U.S. accounted for 83% of that total.
  • In 2023, Canada exported 5.8 million BOE/d to 109 countries, the U.S. accounting for 96%.
  • Of all the hydrocarbons exported to the U.S. in 2023, crude oil was by far the largest at 69.4%, natural gas at 23.3%, while RPPs and NGLs represented 5.4% and 1.9%, respectively.
  • Of all the hydrocarbons imported from the U.S. in 2023, crude oil was 33.4% of the total BOE/d, RPPs were 31.4%, natural gas was 31.0% and NGLs were 4.2%.

Canada-U.S. Energy Trade by Type

Crude Oil

Figure 2: Annual Crude Oil Imports and Exports (2015-2023)

Source and Text Alternative

Source: Canadian International Merchandise Trade Database (CIMT) - HS270900

Text Alternative: This figure shows a yearly stacked bar chart for crude oil (including condensates) imports and exports in million barrels per day (MMb/d) by source and destination (U.S. versus other countries) from 2015 to 2023. Exports are displayed as positive values, with dark blue representing exports to the U.S. and dark orange for exports to other countries. Imports are shown as negative values, with light blue representing imports to the U.S. and light orange for imports to other countries.

  • In 2023, Canada exported 3.9 MMb/d of crude oil. Of this, 97% or 3.8 MMb/d went to the U.S.
  • In 2023, crude oil exports to the U.S. were valued at $130 billion.
  • In 2023, Canada imported 0.5 MMb/d of crude oil. Of this, 80%, or 0.4 MMb/d, came from the U.S.
  • Crude oil imports from the U.S. were valued at $14 billion in 2023.

Natural Gas

Figure 3: Annual Natural Gas Imports and Exports (2015-2023)

Source and Text Alternative

Source: Canadian International Merchandise Trade Database (CIMT) - HS271121

Text Alternative: This figure shows a yearly stacked bar chart for natural gas imports and exports in billion cubic feet per day (Bcf/d) by source and destination (U.S. versus other countries) from 2015 to 2023. Exports are displayed as positive values, with dark blue representing exports to the U.S. and dark orange for exports to other countries.

  • In 2023, Canada exported 7.8 billion cubic feet per day (Bcf/d) of natural gas, all of which went to the U.S.
  • In 2023, natural gas exports to the U.S. were valued at $13 billion.
  • In 2023, Canada imported 2.0 Bcf/d of natural gas—nearly 100% from the U.S.
  • In 2023, natural gas imports from the U.S. were valued at nearly $3 billion.

Natural Gas Liquids (NGLs)

Figure 4: Annual Ethane, Propane, and Butane Imports and Exports (2015-2023)

Source and Text Alternative

Source: Canadian International Merchandise Trade Database (CIMT) - HS2901100040 & HS2711199010 (ethane), HS271112 (propane), HS271113, HS2901100011, HS2901100012 (butane)

Text Alternative: This figure presents three yearly stacked bar charts: one for butane, one for propane, and one for ethane. Each chart displays imports and exports in thousand barrels per day (Mb/d), categorized by source and destination (U.S. versus other countries) 2015 to 2023. Exports are displayed as positive values, with dark blue representing exports to the U.S. and dark orange for exports to other countries. Imports are shown as negative values, with light blue representing imports to the U.S. and light orange for imports to other countries.

  • NGLs are hydrocarbons recovered from natural gas or condensate as liquids when they are under slightly higher pressures and slightly lower temperatures. These liquids include, but are not limited to, ethane, propane, butanes and pentanes plus.
  • In 2023, Canada exported 245.0 Mb/d of NGLs, with 66% or 159.0 Mb/d going to the U.S.
  • In 2023, NGL exports to the U.S. were valued at $2.8 billion.
  • In 2023, Canada imported 91.8 Mb/d of NGLs—nearly 100% from the U.S.
  • NGL imports from the U.S. were valued at $0.5 billion in 2023.

Refined Petroleum Products (RPP)

Figure 5: Annual Refined Petroleum Products Imports and Exports (2015-2023)

Source and Text Alternative

Source: Canadian International Merchandise Trade Database (CIMT) - HS271012, HS271019, HS271020

Text Alternative: This figure shows a yearly stacked bar chart for (RPPs) imports and exports in million barrels per day (MMb/d) by source and destination (U.S. versus other countries) 2015 to 2023. Exports are displayed as positive values, with dark blue representing exports to the U.S. and dark orange for exports to other countries. Imports are shown as negative values, with light blue representing imports to the U.S. and light orange for imports to other countries.

  • RPPs include a wide range of products refined from crude oil, such as motor gasoline, distillate fuel oil (diesel), heating oil, and kerosene jet fuel, among others.
  • In 2023, Canada exported 0.37 MMb/d of RPPs. Of this, 87%, or 0.32 MMb/d, went to the U.S.
  • In 2023, RPP exports to the U.S. were valued at $17.2 billion.
  • In 2023, Canada imported 0.47 MMb/d of RPPs. Of this, 80% or 0.37 MMb/d came from the U.S.
  • RPP imports from the U.S. were valued at $18.2 billion in 2023.

Electricity

Figure 6: Annual Electricity Imports and Exports from and to the U.S. (2015-2023)

Source and Text Alternative

Source: Canadian International Merchandise Trade Database (CIMT) - HS271600

Text Alternative: This figure shows a yearly stacked bar chart for electricity imports and exports in Terawatt hours (TWh) with the U.S. from 2015 to 2023. Exports are displayed as positive values, with dark blue representing exports to the U.S. Imports are shown as negative values, with light blue representing imports from the U.S. One hundred percent of imports are from the U.S. and 100% of the exports are to the U.S. Canada does not import or export electricity to other countries.

  • Electricity imports and exports play a critical role in ensuring the reliability of the electricity systems of respective Canadian provinces and U.S. states.
  • All of Canada’s electricity trade is with the U.S. In 2023, Canada exported 49.4 Terawatt hours (TWh) of electricity. These were valued at $4.3 billion.
  • In 2023 Canada imported 16.7 TWh of electricity, valued at $1.6 billion in 2023.
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