Blog post

Maple syrup on Belgian waffles: EU-Canada trade

Wallonia recently voted against the Comprehensive Economic and Trade Agreement (CETA), which aims to eliminate 98% of tariffs between Canada and EU. W

Publishing date: 20 October 2016
Authors: Uuriintuya Batsaikhan

Canada is EU’s 12^th largest trading partner constituting 11% of extra-EU trade, while EU is Canada’s 2^nd largest partner taking up to 9.5% of its external trade. In 2015, the total value of the bilateral trade in goods was €63.5 Billion. EU maintains a positive trade balance with Canada, €35.2 Billion in exports and €28.2 Billion in imports. Machinery and appliances, transport equipment and chemical products are EU’s main exports to Canada whereas commodities, machinery and mineral products are EU’s main imports from Canada.

Bilateral trade in services totaled €27.2 Billion in 2014 and was mostly made up of transportation, travel and insurance activities. Within the EU, United Kingdom, Germany, Netherlands, France and Italy are Canada’s main trading partners. United Kingdom maintains a trade deficit of €6.7 Billion with Canada, while Germany has a trade surplus of €6.8 Billion.

In 2014, EU’s foreign direct investment in Canada constituted €274.7 Billion while Canadian investors’ stock of FDI in the EU was €166.9 Billion.

About the authors

Uuriintuya Batsaikhan

Uuriintuya Batsaikhan, a Mongolian citizen, has worked as an Affiliate Fellow in the area of European and Global Macroeconomics and Governance. She has a Master’s Degree from the Central European University (CEU) in Budapest and a Master of Public Policy Degree specialising in political economy, economic institutions and monetary policy from Hertie School of Governance in Berlin. Prior to joining Bruegel, she worked at UNDP in Mongolia and the German Institute for Economic Research in Berlin.

In her Master’s thesis, she analysed access to finance of SMEs during the financial crisis using a dynamic (dis)equilibrium model of credit demand and credit supply. At CEU, she wrote on the divergent means of inflation stabilization in post-transition Poland and Estonia and assessed the role of the Currency Board Arrangement (CBA) employed in Estonia.

Uuriintuya’s research interests include macroeconomics, banking and monetary policy, access to finance of SMEs and political economy of emerging countries.

She speaks Mongolian, English, Russian and German.

Declaration of interests 2016