Canada Loses Spot as Top Buyer of US Goods

Mexico has overtaken Canada as the largest buyer of US goods, marking the first time in nearly 30 years that Canada has not held the top spot, according to new data from the US Commerce Department. The figures highlight a significant shift in North American trade dynamics, with Mexico and the US economies becoming increasingly interconnected despite occasional political friction, per New York Times. Just two years ago, Mexico became the leading seller of goods to the US, surpassing China. Now, it also ranks as the top destination for US exports. From January to August, the US exported $226.4 billion in goods to Mexico, slightly edging out the $225.6 billion sent to Canada. In comparison, the US exported $349.4 billion to Canada and $334 billion to Mexico last year.

According to Forbes, this change would also make Mexico the only other country apart from Canada to ever lead in US exports, imports, and total trade on an annual basis. And "not since 2006 has one country ranked first" in those three categories, it notes. Total goods trade with Mexico was an estimated $840 billion in 2024. The two countries primarily swap agricultural products, electrical machinery, and vehicles.