Canada

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Canada and Florida: A Strong and Growing Economic Partnership

Canada and Florida are natural partners, perfectly complementing each other in so many ways. For decades, resource-rich Canada has been supplying Florida’s booming economy and population with the prerequisites to sustain this strong growth, as well as with cutting-edge technologies and financial capital. And as both a hotbed of innovation and North America’s gateway to Latin America and the Caribbean, subtropical Florida has for the longest time been a favorite destination for Canadians eager to capitalize on Florida’s opportunities – for business, leisure, or both! From energy to building materials to food to telecoms equipment, Canadian firms have built a strong presence in Florida across a wide variety of industries.

As global leaders in developing the technologies of tomorrow, both Canada and Florida have been eagerly nurturing their bilateral links, which has resulted in some stellar examples of collaboration across a wide variety of fields. Private-sector businesses, universities, regional and local governments, and non-profit organizations have all been working steadfastly towards developing networks of partnerships that will bring ever closer to the already intertwined economies of Canada and Florida.

Beyond just their commercial links, Canada and Florida share long-standing ties in culture, language (Quebec has North America’s largest francophone community, Florida the second largest), tourism (including Canadian “snowbirds” who reside in Florida part of the year), sports, and a variety of other areas. All of these linkages reinforce each other, contributing to a deeper mutual familiarity and understanding between Canadians and Floridians, while also facilitating the conduct of business.

Florida-Canada Bilateral Merchandise Trade

USMCA partners Canada and the United States have seen a boom in cross-border trade over the past decade and a half. With the two nations’ economies becoming ever-more-closely integrated, some of this trade is conducted among affiliates of the same company on different sides of the international border. As the third most populous U.S. state and a major hub for global commerce, Florida has provided a significant contribution to this trading relationship.

Total two-way direct merchandise trade between Canada and Florida amounts to over $1.5 billion a year. The lion’s share of this merchandise trade (about three quarters) is transported overland by truck, with another 15% shipped by rail. The remaining tenth of bilateral trade is transported either by air (e.g. advanced products requiring just-in-time delivery, such as electronic components) or by sea (e.g. bulk cargoes such as raw materials). In addition to well-developed overland and maritime connections, there are also numerous direct daily flights between Canadian cities and those in Florida.