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Market Chatter: A Small Group of Cities Drove Canada's Progress On Diversifying Trade Away From U.S., report says

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A small group of cities across the country drove Canada's progress on diversifying trade in 2025, while others fell behind, says a new report from the Canadian Chamber of Commerce, The Canadian Press is reporting Wednesday.

The report says Calgary, Ottawa-Gatineau, Toronto, Saskatoon and Kelowna, B.C., are the cities that made the strongest gains in export diversification beyond the U.S. market last year.

Of the cities surveyed, Calgary and Ottawa-Gatineau posted the largest increases in exports to non-U.S. markets between 2024 and 2025 at 64.67% and 64.04%, respectively.

Toronto's non-U.S. exports increased by 32.82%, followed by Saskatoon (32.04%) and Kelowna (28.63%). Non-U.S. exports increased by 16.8% countrywide.

"Together, this relatively small group of cities account for a disproportionate share of Canada's recent export diversification gains, reinforcing how uneven the country's trade adjustment remains across regions," says the report.

(Market Chatter news is derived from conversations with market professionals globally, and/or from other media sources. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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