Calgary-U.S. Trade Plummets to Record Low Amid Global Business Expansion
Calgary’s trade relationships, particularly with the United States, have experienced a significant decline, reflecting broader shifts in international business dynamics. Data from Calgary Economic Development (CED) highlights that in the past year, U.S. deals constituted less than 25% of the city’s total trade agreements. This marks the smallest share on record.
Trade Shifts Amid Economic Uncertainty
In 2024, 35% of CED-supported trade deals were with the U.S. Factors contributing to this change include economic uncertainties and tariffs introduced by former U.S. President Donald Trump in February 2023. CED President Brad Parry emphasized the need for local businesses to diversify their trading partners.
- 2023: U.S. trade deals fall to less than 25%.
- 2024: 35% of CED-supported deals with U.S.
- Tariffs imposed by Trump are a significant factor.
Parry noted, “We cannot solely depend on one trading partner,” suggesting that it’s crucial for Calgary to explore new markets beyond the U.S.
International Expansion Efforts
As part of its strategy, the Canadian government has initiated new measures to bolster trade with countries outside North America. This includes a diversification strategy launched last fall and a trade agreement with China earlier this year. CED-assisted companies expanded into 21 countries in 2025, generating $60 million in revenue through 45 international deals.
- Countries of interest: Europe, the Middle East, Asia, Latin America, Oceania.
- 2025: 21 countries explored, $60 million in revenue generated.
Brad Parry highlighted that fewer local deals with U.S. companies does not imply abandoning the U.S. market. Instead, businesses are opening new avenues to enhance growth opportunities.
Case Studies: Calgary Businesses Thrive Internationally
Among the businesses thriving internationally is Righteous Gelato, which recently secured a deal with Costco in Japan. Product and Brand Commercialization Lead Marilyn Way stated, “This deal is a culmination of years of effort with CED.” The company aims to penetrate other markets, including Korea, while maintaining their U.S. retail partnerships.
Another success story comes from Casa Bonita Foods, directed by Sergio Llerena. This Calgary-based manufacturer has successfully expanded its tortilla and chip products into markets such as Australia, Japan, Korea, and Thailand, thanks to CED resources. Llerena noted that the tariff challenge prompted them to seek alternative markets, revealing broader opportunities outside the U.S. “Once you start looking beyond, you realize the U.S. is just a small part of a larger picture,” he remarked.
Trade Accelerator Program: Aiding International Expansion
The Trade Accelerator Program by CED is instrumental in assisting businesses targeting global markets. This four-session workshop equips participants with knowledge on marketing, pricing, and cultural aspects crucial for successful international trade.
CED’s initiatives also include networking events, international trade missions, and meetings with suppliers to foster connections for local businesses. Parry concluded, “Canada is increasingly viewed as a strong trading partner, leading many companies to diversify their trade relationships.”
In summary, Calgary’s trade landscape is evolving, focusing on diversification amid declining U.S. trade relations. This presents a substantial opportunity for local businesses to broaden their horizons and engage with international markets.
