Canada is the world's top agriculture trader when compared to all other countries on a per capita basis, according to Farm Credit Canada's (FCC) annual report on global trade.
"When viewing Canada's agriculture trade numbers through the lens of this country's population, a clear picture emerges," said J.P. Gervais, FCC's chief agricultural economist. "It shows the agriculture sector is more important to Canada than all other countries, including the United States, Australia and the European Union."
"This is significant because it points to strong opportunities and a bright future for Canadian agriculture," said Gervais, in releasing the FCC Ag Economics: A 2014 Look at Global Trade report.
The report takes the combined value of all agriculture exports and imports from each of the major agriculture trading countries and divides that number by each country's respective population.
In 2013, the value of Canada's agriculture imports and exports was more than US$2,100 per person, followed by Australia at about US$1,900 per person.
While China and India don't rank high on the per capita agriculture trade spectrum, the significance of these emerging economies - with huge and growing populations - should not be ignored, Gervais cautioned.
"The combination of rising household incomes and population growth in India and China present major market opportunities for Canadian exports of beef, pork and pulse crops," Gervais said. "Canada appears well positioned as an important agriculture trader in the world and the expansion of trade relations will only help to sustain and build on that."
The report shows Canada as the fifth largest agriculture exporter in the world - behind the European Union, United States, Brazil and China - and the sixth largest agriculture importer. Canada's imports are mainly driven by relatively high household incomes and a year-round demand for fresh fruits and vegetables, which is partly met by foreign exporters.
"This report confirms that agriculture is and will continue to be a major contributor to Canada's growth and prosperity," Gervais said.
FCC has produced a four-part video series on international agriculture trade and Canada's place in the world markets. To view these videos and read the full report, visit www.fcc.ca/GlobalTrade or read the latest FCC Ag Economist blog post at www.fcc.ca/AgEconomist.
FCC is Canada's leading agriculture lender, with a healthy portfolio of more than $26 billion and 21 consecutive years of portfolio growth. With FCC in the market, producers benefit, agriculture benefits, rural Canada benefits and so do all Canadians.
