Canada and Mexico
North American production chains, temporary agricultural work and academic contacts connect the two countries. Bilateral cooperation has its own agenda, although the trade treaty includes the United States. The 2025–2028 plan brings together the economy, mobility, security and the environment.
Analysis reviewed: 2026-10-07 · Indicators updated: 2026-10-07North American production chains
NAFTA expanded the trade framework from 1994, and CUSMA retains a trilateral instrument that includes the United States.
Direct investment and trade have their own measures
Canada publishes direct investment in Mexico of 66,000 million Canadian dollars in 2025, alongside goods trade of 62,400 million.
The expansion announced in September 2025
Carney's meeting in Mexico led to a new partnership agenda.
Bilateral indicators
Blank cells: data unavailable.
| Indicator | Value | Period |
|---|---|---|
| Goods trade | ≈ 62,400 M CAD | 2025 · Global Affairs Canada |
| Goods: Canada to Mexico | ≈ 8,900 M CAD | 2025 · Global Affairs Canada |
| Goods: Mexico to Canada | ≈ 53,500 M CAD | 2025 · Global Affairs Canada |
| Services trade | ||
| Export share: Canada to Mexico | ||
| Export share: Mexico to Canada | ||
| Investment stock: Canada in Mexico | ≈ 66,000 M CAD | 2025 · Global Affairs Canada |
| Investment stock: Mexico in Canada |
Definitions and sources
Trade adds both directions. Shares refer to the country’s total goods exports; investment is an accumulated stock, not an annual flow. Every figure retains the currency and period of its source. BEA positions are historical-cost estimates based on the immediate counterpart, not market values or investment by ultimate owner. ‘More than’ indicates a lower bound, not an exact amount. A recorded stock does not establish new activity or authorisation to operate under sanctions.
- Goods trade
- 2025 · Global Affairs Canada · Rounded official figures in Canadian dollars. Goods: Canadian reporter; investment: Canadian direct investment position in Mexico, not portfolio investment.
- Goods: Canada to Mexico
- 2025 · Global Affairs Canada · Rounded official figures in Canadian dollars. Goods: Canadian reporter; investment: Canadian direct investment position in Mexico, not portfolio investment.
- Goods: Mexico to Canada
- 2025 · Global Affairs Canada · Rounded official figures in Canadian dollars. Goods: Canadian reporter; investment: Canadian direct investment position in Mexico, not portfolio investment.
- Investment stock: Canada in Mexico
- 2025 · Global Affairs Canada · Rounded official figures in Canadian dollars. Goods: Canadian reporter; investment: Canadian direct investment position in Mexico, not portfolio investment.
Country comparison
Period and source beside each figure · est. = estimate by the stated institution.
Year-on-year inflation: different periods or frequencies; the two figures are not directly comparable.
| Indicator | Canada | Mexico |
|---|---|---|
| Nominal GDP | 2.32 trillion USD2025 · WB | 1.83 trillion USD2025 · WB |
| GDP per capita | 55,697.66 USD2025 · WB | 13,889.23 USD2025 · WB |
| GDP growth | 1.74 %2025 · WB | 0.56 %2025 · WB |
| Policy interest rate | 2.25 %2026-09-02 · BoC | 6.5 %2026-09-24 · Banxico |
| Inflation · annual average | 2.07 %Annual average · 2025 · WB | 3.81 %Annual average · 2025 · WB |
| Inflation · latest year-on-year figure | 3 %Year-on-year · Aug. 2026 · StatCan | 3.42 %Year-on-year · first fortnight of Sept. 2026 · INEGI |
| Unemployment | 6.91 %ILO est.2025 · WB | 2.67 %ILO est.2025 · WB |
| Budget balance (% of GDP) | -1.8 %IMF est.2025 · IMF | -4.9 %IMF est.2025 · IMF |
| Gross public debt (% of GDP) | 113.5 %IMF est.2025 · IMF | 61.8 %IMF est.2025 · IMF |
| Current account balance (% of GDP) | -0.95 %2025 · WB | -0.45 %2025 · WB |
| Population | 41,651,6532025 · WB | 131,946,9002025 · WB |
| Area | 9,984,670 km²2012 · StatCan | 1,957,194 km²2023 · BM / FAO |
| Military expenditure | ||
| Military expenditure (% of GDP) |
Definitions, dates and sources
Blank cells are not zero. Average annual inflation and the latest year-on-year figure appear in separate rows: they are not the same measure. Every annual indicator retains its reference year; when the years differ, the figures are identified as not directly comparable. When a figure is unavailable from the World Bank, an annual IMF estimate is used and identified as such. The latest year-on-year figure is the latest official release verified as of 7 October 2026. This includes advance releases marked as provisional. Mexico may have a fortnightly figure before the full month is published; it is not automatically compared with a monthly figure. The publication date is retained in each source’s details; it does not replace the observation period or the annual average. Policy rates carry their own dates and represent different instruments. Spain and France share the ECB rate. Balances are positive for surpluses and negative for deficits. The IMF may use fiscal years; unemployment retains each source’s definition (ILO estimates, IMF WEO or PCBS), as stated in the details. For Palestine, debt and the fiscal balance cover central government and retain the PCBS definition; they are not presented as consolidated general government. These are economic magnitudes, not measures of relationship quality.
Area retains each source’s territorial coverage; it does not determine sovereignty or effective control. Canada uses an archived national geographic reference. Military expenditure retains the 2024 SIPRI sample distributed by the World Bank: the amount and percentage of GDP use that same definition, which differs from NATO’s. It is not an approved budget or a 2026 figure. Information from the Stockholm International Peace Research Institute (SIPRI). Military expenditure database · Terms of use0
Indicators reviewed: 2026-10-07. Each source retains its original access date; this review does not turn all the data into 2026 observations. Figures may be revised.
- Nominal GDP
- Current USDCanada: 2025 · World BankMexico: 2025 · World Bank
- GDP per capita
- Current USD per personCanada: 2025 · World BankMexico: 2025 · World Bank
- GDP growth
- Annual real change (%)Canada: 2025 · World BankMexico: 2025 · World Bank
- Policy interest rate
- Central bank instrument (%)Canada: 2026-09-02 · Overnight rate target · Bank of CanadaMexico: 2026-09-24 · Overnight interbank rate target · Bank of Mexico
- Inflation · annual average
- Average annual change in headline CPI (%)Canada: 2025 · Average annual CPI change (%) · World BankMexico: 2025 · Average annual CPI change (%) · World Bank
- Inflation · latest year-on-year figure
- Headline CPI relative to the same period of the previous year (%); monthly or fortnightly frequency statedCanada: 2026-08 · Headline CPI change relative to the same month of the previous year (%) · Statistics Canada · Published: 2026-09-14 · National headline year-on-year CPI, not monthly inflation or an annual average.Mexico: 2026-09-Q1 · Headline CPI change relative to the same fortnight of the previous year (%) · INEGI · Published: 2026-09-24 · First fortnight of September relative to the same fortnight of 2025; not full-month September CPI or the 0.33% fortnightly change. The monthly September figure had not yet been published on the review date.
- Unemployment
- % of the labour force; definition used by the stated institutionCanada: 2025 · World Bank · ILO est.Mexico: 2025 · World Bank · ILO est.
- Budget balance
- General government (% of GDP)Canada: 2025 · IMF — World Economic Outlook · IMF est.Mexico: 2025 · IMF — World Economic Outlook · IMF est.
- Gross public debt
- General government (% of GDP)Canada: 2025 · IMF — World Economic Outlook · IMF est.Mexico: 2025 · IMF — World Economic Outlook · IMF est.
- Current account balance
- % of GDPCanada: 2025 · World BankMexico: 2025 · World Bank
- Population
- PeopleCanada: 2025 · World BankMexico: 2025 · World Bank
- Area
- Total area in km²; territorial coverage of the sourceCanada: 2012 · Total area of Canada, land and water; archived official geographic reference from 2012 · Statistics Canada · Not an annual measurement for 2025. Replaces an API observation that does not match the national reference.Mexico: 2023 · Total area including inland waters; territorial coverage of the source · World Bank · FAO
- Military expenditure
- Current USD per year; SIPRI series
- Military expenditure (% of GDP)
- Percentage of GDP; SIPRI definition, not NATO’s definition
Other data specific to this relationship
What they buy and sell
Documented selection, not an exhaustive list. Cells without a figure do not mean zero value; some products are identified without a verified amount.
Canada to Mexico
| Product or sector | Value / share |
|---|---|
| Automotive components | |
| Canola | |
| Meat products | |
| Wheat |
Mexico to Canada
| Product or sector | Value / share |
|---|---|
| Vehicles | |
| Data processing equipment | |
| Fresh fruit and vegetables |
Connections between people
Temporary agricultural work, education and cultural contacts are separate channels. Cultural origin in a census is not treated as nationality or a work permit. [2]
Residents, study and travel
Blank cells: data unavailable. Each measure retains its definition and period.
| Indicator | Value | Period / source |
|---|---|---|
| Residents from Canada living in Mexico | ||
| Residents from Mexico living in Canada | ||
| Study and training: Canada in Mexico | ||
| Study and training: Mexico in Canada | ||
| Academic stays: Canada in Mexico | ||
| Academic stays: Mexico in Canada | ||
| Travel: Canada to Mexico | ||
| Travel: Mexico to Canada |
What each figure measures
Residents are counted by nationality and the coverage of the stated register, not as people born in the other country or as new arrivals in one year. PERE includes dual nationals and people born outside Spain. Study with OPT and stays carrying academic credit are different measures. Travel may include several visits by the same person; FRONTUR arrivals require an overnight stay, whereas the Canadian survey includes day visits. These figures are neither added together nor automatically compared across directions.
Mobility data added or reviewed: 2026-10-07. Reference periods may be earlier.
Underlying ties
History, institutions and long-standing issues.
North American production chains
NAFTA expanded the trade framework from 1994, and CUSMA retains a trilateral instrument that includes the United States. The Canadian profile ranks Mexico as the third-largest individual goods partner in 2025. Canadian exports include automotive components, canola, meat and wheat; imports include vehicles, data processing equipment and fruit and vegetables. These chains can incorporate inputs from other countries and do not imply wholly bilateral manufacturing. [1]
Direct investment and trade have their own measures
Canada publishes direct investment in Mexico of 66,000 million Canadian dollars in 2025, alongside goods trade of 62,400 million. The first value is an accumulated position and the second an annual flow: they are not added. Goods are recorded by Canada, with exports of 8,900 million and imports of 53,500 million. These are rounded official figures and CAD is retained, without automatically converting it to USD. [1]
Temporary work, not automatic permanent migration
Mexico has long participated in Canada's Seasonal Agricultural Worker Program. That mechanism connects agricultural labour needs and temporary travel, with its own conditions. It is not equivalent to a general permit for any activity or permanent residence. The Canadian count of people of Mexican ethnic or cultural origin in the 2021 census is not placed in the resident-by-nationality cell either, because it describes a different population. [1]
Four pillars for 2025–2028
The comprehensive strategic partnership and action plan bring together prosperity; mobility, inclusion and well-being; security; and environmental sustainability. These are areas of bilateral coordination, distinct from the North American trade treaty's rules. The plan identifies priorities and those responsible for follow-up, but does not establish that all initiatives have been completed. Environmental or academic cooperation needs its own outcomes, alongside trade figures. [2]
Recent developments
Recent developments and latest available data · Reviewed: 2026-10-07
The expansion announced in September 2025
Carney's meeting in Mexico led to a new partnership agenda. The prime minister's announcement describes economic and political cooperation over a multi-year horizon. The profile distinguishes that programme from investment stock already recorded and existing temporary work. This shows institutional continuity and new actions without attributing the entire evolution of industrial chains to an announcement. [3]
What recorded goods show
In 2025, recorded goods trade was 62,400 million CAD. Shipments from Canada to Mexico were 8,900 million CAD, and those in the opposite direction were 53,500 million CAD. A single reporter is used for both directions. The difference between those flows describes that source's goods balance, not the entire economic balance: services, subsidiary activity and investment have independent measures. [1]
Milestones and consequences
Sources and data
Periods and scope of the figures
Each figure retains its period, currency, definition and source. Blank cells are not zero. Policy documents are distinguished from statistical results, and projects under way from announcements.
- Canada–Mexico relations
Global Affairs Canada · Institutional source · Document: 2026-09-14 · Accessed: 2026-10-07
- Canada–Mexico Comprehensive Strategic Partnership
Global Affairs Canada · Institutional source · Document: 2025 · Accessed: 2026-10-07
- New partnership with Mexico
Prime Minister of Canada · Institutional source · Document: 2025-09-18 · Accessed: 2026-10-07
Additional sources on products and human connections
- Global Affairs Canada
2026-10-07 · Accessed: 2026-10-07.