US Export Share by Sector & Province — 2025
Each cell shows US% (US share of exports from that province in that sector) and total export value. Cell colour reflects export size — darker blue = larger. Hover for breakdown. N/A = source data anomalous.
| Sector | BC | Alberta | Ontario | Quebec | Other | Canada |
|---|---|---|---|---|---|---|
| Oil & Gas / Petroleum |
60%
$8.9B
|
93%
$135.3B
|
92%
$3.2B
|
82%
$4.4B
|
82%
$30.0B
|
89%
$181.7B
|
| Wood Products |
73%
$6.5B
|
93%
$2.1B
|
97%
$2.5B
|
92%
$4.2B
|
91%
$1.8B
|
86%
$17.1B
|
| Autos & Parts |
78%
$743M
|
93%
$713M
|
96%
$61.8B
|
81%
$5.2B
|
96%
$1.7B
|
95%
$70.2B
|
| Aluminum |
74%
$1.3B
|
95%
$32M
|
95%
$1.4B
|
83%
$10.2B
|
78%
$4M
|
83%
$12.9B
|
| Steel |
92%
$126M
|
98%
$406M
|
94%
$5.6B
|
73%
$1.6B
|
96%
$351M
|
90%
$8.0B
|
| Aerospace |
84%
$383M
|
45%
$366M
|
68%
$3.6B
|
61%
$16.3B
|
86%
$668M
|
63%
$21.4B
|
| Mining — Gold, Copper, Nickel, Uranium |
16%
$7.5B
|
14%
$895M
|
21%
$58.8B
|
52%
$14.3B
|
11%
$5.2B
|
25%
$86.7B
|
| Potash |
68%
$127M
|
63%
$116M
|
95%
$476M
|
59%
$478M
|
44%
$10.5B
|
47%
$11.7B
|
| Subtotal (8 sectors) |
28%
of prov. total
$25.5B
|
74%
of prov. total
$139.8B
|
65%
of prov. total
$137.3B
|
52%
of prov. total
$56.7B
|
75%
of prov. total
$50.3B
|
63%
of prov. total
$409.7B
|
| Other sectors ‡ |
72%‡
of prov. total
$64.5B
|
26%‡
of prov. total
$48.2B
|
35%‡
of prov. total
$74.7B
|
48%‡
of prov. total
$53.3B
|
25%‡
of prov. total
$16.7B
|
37%‡
of prov. total
$240.3B
|
| Canada total exports § |
51%§
$90.0B
|
87%§
$188.0B
|
70%§
$212.0B
|
68%§
$110.0B
|
63%§
$67.0B
|
72%§
$650.0B
|
Source: ISED Trade Data Online / Statistics Canada, NAICS classification, 2025 annual exports. Canada column uncoloured. N/A = source anomaly (province exceeded national total).
† Data anomalies: TDO returns implausible values for some province/NAICS pairs where that province has minimal activity (province total exceeds national total). Affected cells excluded. Known N/A: Alberta (Wood, Aluminum, Steel); BC (Aluminum, Steel); Ontario (Oil & Gas extraction NAICS 211); Quebec (Steel Products NAICS 3312); all provinces (NAICS 3362 Body & Trailer). "Other" province column shown only where all four provinces have valid data.
* Subtotal asterisk: province total understated where one or more sectors have N/A. Alberta and BC missing Wood/Aluminum/Steel; Other missing where derivation failed.
‡ Other sectors row: Residual derived dynamically: Statistics Canada province total estimate minus 8-sector TDO subtotal. Covers agriculture, machinery, pharma, chemicals, and all other NAICS codes. BC US% lower due to Pacific grain/agri/LNG trade; ON US% high due to machinery, pharma, food chains.
§ Canada total row: Statistics Canada merchandise goods export estimates, ~2025. US% is a blended estimate (8-sector TDO US exports + estimated US share of other sectors). These are approximate and do not reconcile precisely to official annual totals.
Sector Summary
| Sector | Key Province(s) | Canada Exports | US% | TSX Coverage | TSX Mkt Cap (est.) | Key Tickers |
|---|---|---|---|---|---|---|
| Oil & Gas / Petroleum | AB (74%), Other/SK (15%), BC (5%) | $181.7B | 89% | High | ~C$407B ~7% of TSX |
CNQ, SU, CVE, IMO, TOU |
| Wood Products | BC (38%), QC (24%), ON (16%), AB (est. ~10%) | $17.1B | 86% | High | ~C$14B <1% of TSX |
WFG, CFP, IFP, SJ |
| Autos & Parts | ON (86%), QC (7%), Other (6%) | $70.2B | 95% | Medium | ~C$31B (parts only) <1% of TSX |
MG, LNR, MRE |
| Aluminum | QC (78%), ON (12%) | $12.9B | 83% | Low | — (no TSX primary producers) | RIO (LSE), AA (NYSE) |
| Steel | ON (71%), QC (16%) | $8.0B | 90% | Medium | ~C$4B <1% of TSX |
ASTL, RUS |
| Aerospace | QC (72%), ON (21%), Other (3%) | $21.4B | 63% | High | ~C$52B <1% of TSX |
BBD-B, CAE, EIF, MAL |
| Mining — Gold, Copper, Nickel, Uranium | ON (68%), QC (16%), BC (9%) | $86.7B | 25% | High | ~C$1.15T ~19% of TSX |
AEM, ABX, WPM, CCO, FNV, K, TECK, FM, LUN |
| Potash | SK (~97%) | $11.7B | 47% | High | ~C$45B <1% of TSX |
NTR |
| Subtotal (8 sectors) | Canada-wide | $409.7B | 74% | — | ~C$508B TSX ~8% of TSX · excl. alum; auto parts only |
CNQ, SU, CVE, WFG, MG, CAE, BBD-B, ASTL… |
| TSX Composite (all sectors) | All provinces | — | — | — | ~C$6.0T 100% of TSX |
Financials ~32%, Mining ~20%, Industrials ~11%, Oil & Gas ~9%, Utilities ~8%, Technology ~7%… (equity only, excl. ETFs & CEFs) |
Sources: Trade Data Online (export values, US%); company public filings and market data (market caps, approximate May 2026 CAD basis). Coverage = extent to which sector exports are represented by publicly listed companies. Nitrogen fertilizers (NAICS 3253) excluded from potash — Alberta urea/ammonia is a separate commodity.
Canada's publicly traded companies are, in aggregate, less exposed to US trade than the underlying economy might suggest. The TSX equity market cap is approximately C$6 trillion (excluding ETFs and closed-end funds, May 2026), dominated by financial services (~32%), mining (~20%), industrials (~11%), oil & gas (~9%), and utilities (~8%) — sectors that earn most of their revenue domestically or are globally diversified. The eight sectors in this table account for the bulk of Canada's goods export profile under CUSMA. Much of Canada's most US-dependent goods production happens through Canadian subsidiaries of foreign-listed multinationals: auto assembly (Ford, GM, Toyota, Honda, Stellantis), primary steel (Dofasco/ArcelorMittal), primary aluminum (Rio Tinto Alcan, Alcoa), and petroleum refining (Valero) are all operations of companies listed in the US, UK, or Europe — not on the TSX.
The notable exception is oil and gas, where Canada's largest producers — CNQ, Suncor, Cenovus — are TSX/NYSE-listed and send 89% of their output to US markets. Within the sector, the one partial exception is BC's natural gas and emerging LNG production, a portion of which is oriented toward Pacific markets (Asia) rather than the US pipeline grid, reducing that province's CUSMA concentration to 60% versus Alberta's 93%.
Mining — the TSX's second-largest sector at ~C$1.2 trillion and 20% of listed equity — shows a notably different pattern. Canadian hard-rock exports (gold, copper, uranium, iron ore) are globally priced commodities with diversified buyer pools; US concentration is well below 50%. Potash is the one mining commodity with meaningful US exposure: roughly 50% of Canadian potash exports go to the US (versus 89% for oil), driven by US agricultural demand for Saskatchewan's mines. But the remaining half reaches Brazil, India, China and Southeast Asia through Canpotex, Canada's export cooperative — limiting the structural lock-in seen in pipelines or the automotive supply chain. The TSX's large mining weight therefore provides a genuine diversification cushion against CUSMA disruption.
Publicly Traded Companies by Sector
Major public companies with direct exposure to Canadian exports in each sector. Market caps May 2026, CAD unless noted.
Sources: Company public filings, TSX/NYSE/LSE disclosures. Market caps from TMX Group issuer data, May 2026.
Oil & Gas / Petroleum
Public market coverage: High — most major producers are TSX/NYSE-listed
| Ticker | Company | Province(s) | Exchange(s) | Mkt Cap (approx.) | Notes |
|---|---|---|---|---|---|
| CNQ | Canadian Natural Resources | AB | TSX/NYSE | ~C$131B | Largest Canadian oil producer; oil sands + heavy oil |
| SU | Suncor Energy | AB | TSX/NYSE | ~C$102B | Integrated; largest oil sands operator; owns Petro-Canada retail |
| IMO | Imperial Oil | AB | TSX/NYSEMKT | ~C$79B | 70% ExxonMobil; Cold Lake + Strathcona (AB) refinery |
| CVE | Cenovus Energy | AB | TSX/NYSE | ~C$71B | Oil sands + US downstream refining (acquired HSE) |
| TOU | Tourmaline Oil | BC/AB | TSX | ~C$24B | Largest Canadian gas producer; NE BC Montney + Deep Basin AB |
Valero (VLO:NYSE) owns Lévis QC refinery. Parkland (PKI) delisted Nov 2025 — acquired by Sunoco LP.
Wood Products
Public market coverage: High — major producers TSX-listed; several dual-listed NYSE
| Ticker | Company | Province(s) | Exchange(s) | Mkt Cap (approx.) | Notes |
|---|---|---|---|---|---|
| WFG | West Fraser Timber | BC/AB | TSX/NYSE | ~C$7B | Largest North American lumber producer; significant US South mills |
| SJ | Stella-Jones | ON/QC/BC/AB | TSX | ~C$4B | Railway ties and utility poles; US softwood duties create headwinds |
| CFP | Canfor | BC/AB/SK | TSX | ~C$1.7B | BC/AB/SK softwood; Canfor Pulp (CFX:TSX) is majority-owned sub |
| IFP | Interfor | BC | TSX | ~C$0.7B | BC-focused softwood; expanding in US South |
| ADN | Acadian Timber | NB | TSX | ~C$0.3B | NB + Maine timber lands; small-cap |
Resolute Forest Products taken private by Paper Excellence (2022). Mercer International (MERC:NASDAQ) operates BC/AB pulp.
Autos & Parts
Public market coverage: Medium — Canadian parts suppliers public; OEM assembly (Ford Oakville, GM CAMI, Toyota Cambridge, Honda Alliston) are subsidiaries of US/Japanese-listed parents
| Ticker | Company | Province(s) | Exchange(s) | Mkt Cap (approx.) | Notes |
|---|---|---|---|---|---|
| MG | Magna International | ON | TSX/NYSE | ~C$24B | World's 3rd-largest auto supplier; Aurora ON HQ; plants across ON + globally |
| LNR | Linamar | ON | TSX | ~C$6B | Powertrain & driveline; Guelph ON; also agricultural equipment (MacDon) |
| MRE | Martinrea International | ON | TSX | ~C$0.8B | Metal stampings and modules; Vaughan ON |
Stellantis (STLA:NYSE) owns Windsor RAM assembly. Section 232 auto tariffs create acute ON assembly risk.
Aluminum
Public market coverage: Low — no TSX-listed primary aluminum producers; sector controlled by Rio Tinto (UK) and Alcoa (US)
| Ticker | Company | Province(s) | Exchange(s) | Mkt Cap (approx.) | Notes |
|---|---|---|---|---|---|
| RIO | Rio Tinto / Alcan | QC | LSE/NYSE | ~US$100B (full co) | Owns Arvida, Grande-Baie, Alma, Laterrière QC smelters; aluminum ~15% of RIO |
| AA | Alcoa | QC | NYSE | ~US$8B | Owns Deschambault-Grondines + 60% of Aluminerie de Bécancour (QC) |
Novelis (Hindalco/India) and Aluminerie Alouette (Marubeni consortium) are private. QC hydropower gives cost advantage.
Steel
Public market coverage: Medium — Algoma and Russel public; Dofasco (Hamilton) is ArcelorMittal (MT:NYSE) subsidiary; Stelco delisted 2024
| Ticker | Company | Province(s) | Exchange(s) | Mkt Cap (approx.) | Notes |
|---|---|---|---|---|---|
| CLF | Cleveland-Cliffs (acq. Stelco) | ON | NYSE | ~US$4B | Acquired Stelco Hamilton ON in Oct 2024; Stelco delisted from TSX at C$70/sh |
| RUS | Russel Metals | ON/AB/BC | TSX | ~C$3.4B | Steel distribution / service centres (not a manufacturer) |
| ASTL | Algoma Steel | ON | TSX/NASDAQ | ~C$0.8B | Sault Ste. Marie ON; integrated flat-rolled; EAF restart 2024 |
Section 232 steel tariffs (25%) reimposed 2025; ~94% of Canadian steel exports go to US — high structural CUSMA risk.
Aerospace
Public market coverage: High — major Canadian aerospace primes TSX-listed; P&W Canada (RTX:NYSE) and Bell (TXT:NYSE) are US-parent subsidiaries
| Ticker | Company | Province(s) | Exchange(s) | Mkt Cap (approx.) | Notes |
|---|---|---|---|---|---|
| BBD-B | Bombardier | QC | TSX | ~C$32B | Business jets (Global 7500, Challenger); Montréal + Mirabel; defence growing |
| CAE | CAE Inc. | QC | TSX/NYSE | ~C$11.5B | Flight simulators, pilot training, defence systems; Saint-Laurent QC |
| EIF | Exchange Income | MB | TSX | ~C$6.8B | Regional aviation + aerospace manufacturing; Winnipeg MB |
| MAL | Magellan Aerospace | ON | TSX | ~C$1.9B | Aerostructures and engine components; Mississauga ON + Havilland ON |
Airbus Canada (A220) in Mirabel QC is Airbus (AIR:EPA) sub. Héroux-Devtek (HRX) delisted Feb 2025 — acquired by Platinum Equity. QC aerospace is Canada's most export-diversified sector (EU, Middle East, Asia).
Mining — Gold, Copper, Nickel, Uranium
Public market coverage: High — Canada is home to many of the world's largest gold, uranium, and base metal miners listed on TSX
| Ticker | Company | Province(s) | Exchange(s) | Mkt Cap (approx.) | Notes |
|---|---|---|---|---|---|
| AEM | Agnico Eagle Mines | ON/QC/NU | TSX/NYSE | ~C$127B | Gold; Abitibi ON/QC + Nunavut; also Finland + Mexico |
| ABX | Barrick Mining | ON/global | TSX/NYSE | ~C$99B | Gold; global operations; HQ Toronto; significant Africa/Americas mines |
| WPM | Wheaton Precious Metals | BC | TSX/NYSE | ~C$84B | Precious metals streaming; Vancouver HQ; royalties on global mines |
| CCO | Cameco | SK | TSX/NYSE | ~C$68B | World's largest listed uranium producer; Athabasca Basin SK |
| FNV | Franco-Nevada | ON | TSX/NYSE | ~C$62B | Gold royalties + streams; Toronto HQ; diversified global royalty portfolio |
| K | Kinross Gold | ON | TSX/NYSE | ~C$50B | Gold; Toronto HQ; mines in Americas + W. Africa |
| TECK | Teck Resources | BC | TSX/NYSE | ~C$45B | Copper + zinc + steelmaking coal; Vancouver; QB2 copper mine (BC/Chile) |
| FM | First Quantum Minerals | BC | TSX | ~C$35B | Copper; Vancouver HQ; Cobre Panama + Zambia operations |
| LUN | Lundin Mining | ON | TSX | ~C$35B | Copper/zinc; Toronto HQ; Chile, Brazil, Portugal, Sweden mines |
TSX Mining sector = ~C$1.2T, 20% of TSX equity. Most companies mine globally; US share of Canadian-origin exports is ~15–25% (gold, copper, uranium, iron ore all have diversified global buyers). Distinct from the high US-dependency of oil, autos, and steel.
Potash
Public market coverage: High — Nutrien (TSX/NYSE) dominates; Mosaic (MOS:NYSE) is a secondary US-listed player
| Ticker | Company | Province(s) | Exchange(s) | Mkt Cap (approx.) | Notes |
|---|---|---|---|---|---|
| NTR | Nutrien Ltd. | SK | TSX/NYSE | ~C$45B | World's largest potash and nitrogen producer; Saskatoon SK HQ; distributes via Canpotex export cooperative |
TDO NAICS 2123 (potash mining). Canada total exports ~C$12B, ~47% to US. Primarily SK (~97% of potash production); remainder to Brazil, India, China, SE Asia via Canpotex. Nitrogen fertilizers (urea/ammonia from AB natural gas, NAICS 3253) excluded — different commodity and geography.
Export data: ISED Trade Data Online / Statistics Canada, NAICS classification, 2025 annual. Equity market cap: TMX Group issuer data May 2026, excluding ETFs and closed-end funds.