Home Trade and Investment State Trade Fact Sheets 2005 Maine

Maine

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• 24,000 Maine jobs are supported by Canada-U.S. trade
• Total Canada–U.S. merchandise trade: $411 billion
• Canada–U.S. trade supported 5.2 million U.S. jobs
• Canada supplied $1.1 billion more in energy to Maine last year than it did in 2003
• In 2004, Maine sold more than twice as many goods to Canada as it sold to the 25 European Union member countries combined

Friends, neighbors, partners...
Canada received 34% of Maine’s foreign-bound exports, making it the state’s lead trading partner in 2004. The state sent goods totaling $825 million north of the border last year in return for $4.6 billion in Canadian goods. Overall, bilateral trade grew over $1.3 billion from 2003, an increase of 33%

Powering trade...
Energy imported from Canada led the exchange in 2004. The state’s demand for energy goods was satisfied with Canadian supplies totaling $2.8 billion. Petroleum and coal products worth $2.6 billion, and $167 million in electricity dominated the state’s energy purchases. In return, Maine greased the bearings of the relationship with sales to Canada of $2 million in lubricating oils and greases.

A fitting nickname...
Forest products constituted the Pine Tree State’s largest export sector, bringing Maine $379 million in revenue last year. Canada purchased $241 million worth of crude wood materials from the Mainers, as well as $62 million in paper and paperboard. In re

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• 24,000 Maine jobs are supported by Canada-U.S. trade
• Total Canada–U.S. merchandise trade: $411 billion
• Canada–U.S. trade supported 5.2 million U.S. jobs
• Canada supplied $1.1 billion more in energy to Maine last year than it did in 2003
• In 2004, Maine sold more than twice as many goods to Canada as it sold to the 25 European Union member countries combined

Friends, neighbors, partners...
Canada received 34% of Maine’s foreign-bound exports, making it the state’s lead trading partner in 2004. The state sent goods totaling $825 million north of the border last year in return for $4.6 billion in Canadian goods. Overall, bilateral trade grew over $1.3 billion from 2003, an increase of 33%

Powering trade...
Energy imported from Canada led the exchange in 2004. The state’s demand for energy goods was satisfied with Canadian supplies totaling $2.8 billion. Petroleum and coal products worth $2.6 billion, and $167 million in electricity dominated the state’s energy purchases. In return, Maine greased the bearings of the relationship with sales to Canada of $2 million in lubricating oils and greases.

A fitting nickname...
Forest products constituted the Pine Tree State’s largest export sector, bringing Maine $379 million in revenue last year. Canada purchased $241 million worth of crude wood materials from the Mainers, as well as $62 million in paper and paperboard. In return, the state imported $778 million in forest products, including $385 million in wood pulp and $219 million in softwood lumber. The forest products sector grew by $223 million from 2003—an increase of 24% or $1.2 billion.

A well balanced diet...
Cross-border exchanges in agricultural goods generated $594 million, making it the third largest trading sector in 2004. Of the $201 million in Canada-bound agricultural products, fish and seafood outswam the competition as the state’s primary agricultural export commodity with sales of $152 million. Imports of Canadian agricultural goods totaled $393 million and were dominated by the sale of vegetables to the Pine Tree State.

Good chemistry...
Chemicals generated $191 million for Canada-Maine trade in 2004, an increase of $26 million from 2003. Maine’s $19 million in chemical sales included $7 million in plastic film and sheet. In return, Canadian chemicals worth $172 million to the state included $45 million in synthetic rubber and plastics.

Rest and relaxation...
Tourism revenue generated by cross-border travel totaled $228 million last year. New England’s northernmost state attracted 686,000 visits by Canadians, bringing the state $132 million in revenue. In return, Mainers made 306,300 visits north to Canada, spending $96 million.

Maine's Leading Exports to Canada
2004, in millions of U.S. dollars

• Crude wood materials ($241)
• Fish & seafood ($152)
• Paper & paperboard ($62)
• Lumber ($42)
• Stationery & office supplies ($41)
• Motor vehicle parts, not including engines ($24)
• Wood pulp ($16)
• Plywood & wood building boards ($9)
• Containers ($8)
• Plastic film & sheet ($7)

Maine's Leading Imports from Canada
2004, in millions of U.S. dollars

• Petroleum & coal products ($2,640)
• Wood pulp ($385)
• Softwood lumber ($219)
• Electricity ($167)
• Vegetables ($126)
• Newsprint ($68)
• Synthetic rubber & plastics ($45)
• Containers ($38)
• Basic plastic shapes & forms ($27)
• Fish, fillets & blocks, fresh or frozen ($24)

Canada-Maine Success Stories

In 2004, TD Bank Financial Group offered to purchase 51% of the shares of Banknorth Group. The transaction received final approval from regulatory authorities and shareholders in February 2005. Headquartered in Portland, Maine, Banknorth has assets of around US$29 billion and over 77,000 employees. It serves 1.3 million households in Maine, Vermont, Connecticut, Massachusetts, New Hampshire and New York. In a publicity coup, TD Banknorth has secured the rights to the name of the Fleet Center in Boston, successor to the Boston Garden and host to the 2004 Democratic National Convention. It will now be known as the TD Banknorth Garden.

Brascan Corporation was recently awarded the Foreign Investor of the Year Award by the Maine International Trade Center. The Foreign Investor of the Year Award is given to foreign owned companies that have made the strategic decision to invest in Maine. The Maine International Trade Center’s award recognizes the dramatic impact of Brascan’s purchase of the Great Northern Mills and woodlands in Millinocket. Brascan, a global asset management company focusing on property, power, and infrastructure assets, is one of the lowest cost producers of hydroelectric power in North America.

Maine-Canada Facts at a Glance:

• State jobs supported by Canada–U.S. trade: 24,000

August 2005

For more information on Canada's trade with Maine, please contact:
Consulate General of Canada
3 Copley Place, Suite 400
Boston, MA 02116
Phone: (617) 262-3760   •   Fax: (617) 262-3415
www.boston.gc.ca

All figures are in U.S. dollars. Merchandise trade and tourism figures are from Statistics Canada, converted at the rate of US$1.00=C$1.3015. Canada’s export ranking is from the World Institute for Strategic Economic Research (WISER). Figures may not add up due to rounding.

• Read the 2004 state trade figures
• Read the 2003 state trade figures
• Read the 2002 state trade figures

A well balanced diet...
Cross-border exchanges in agricultural goods generated $594 million, making it the third largest trading sector in 2004. Of the $201 million in Canada-bound agricultural products, fish and seafood outswam the competition as the state’s primary agricultural export commodity with sales of $152 million. Imports of Canadian agricultural goods totaled $393 million and were dominated by the sale of vegetables to the Pine Tree State.

Good chemistry...
Chemicals generated $191 million for Canada-Maine trade in 2004, an increase of $26 million from 2003. Maine’s $19 million in chemical sales included $7 million in plastic film and sheet. In return, Canadian chemicals worth $172 million to the state included $45 million in synthetic rubber and plastics.

Rest and relaxation...
Tourism revenue generated by cross-border travel totaled $228 million last year. New England’s northernmost state attracted 686,000 visits by Canadians, bringing the state $132 million in revenue. In return, Mainers made 306,300 visits north to Canada, spending $96 million.

Maine's Leading Exports to Canada
2004, in millions of U.S. dollars

• Crude wood materials ($241)
• Fish & seafood ($152)
• Paper & paperboard ($62)
• Lumber ($42)
• Stationery & office supplies ($41)
• Motor vehicle parts* ($24)
• Wood pulp ($16)
• Plywood & wood building boards ($9)
• Containers ($8)
• Plastic film & sheet ($7)

*not including engines

Maine's Leading Imports from Canada
2004, in millions of U.S. dollars

• Petroleum & coal products ($2,640)
• Wood pulp ($385)
• Softwood lumber ($219)
• Electricity ($167)
• Vegetables ($126)
• Newsprint ($68)
• Synthetic rubber & plastics ($45)
• Containers ($38)
• Basic plastic shapes & forms ($27)
• Fish, fillets & blocks, fresh or frozen ($24)

Canada-Maine Success Stories

In 2004, TD Bank Financial Group offered to purchase 51% of the shares of Banknorth Group. The transaction received final approval from regulatory authorities and shareholders in February 2005. Headquartered in Portland, Maine, Banknorth has assets of around US$29 billion and over 77,000 employees. It serves 1.3 million households in Maine, Vermont, Connecticut, Massachusetts, New Hampshire and New York. In a publicity coup, TD Banknorth has secured the rights to the name of the Fleet Center in Boston, successor to the Boston Garden and host to the 2004 Democratic National Convention. It will now be known as the TD Banknorth Garden.

Brascan Corporation was recently awarded the Foreign Investor of the Year Award by the Maine International Trade Center. The Foreign Investor of the Year Award is given to foreign owned companies that have made the strategic decision to invest in Maine. The Maine International Trade Center’s award recognizes the dramatic impact of Brascan’s purchase of the Great Northern Mills and woodlands in Millinocket. Brascan, a global asset management company focusing on property, power, and infrastructure assets, is one of the lowest cost producers of hydroelectric power in North America.

Maine-Canada Facts at a Glance:

• State jobs supported by Canada–U.S. trade: 24,000

August 2005

For more information on Canada's trade with Maine, please contact:
Consulate General of Canada
3 Copley Place, Suite 400
Boston, MA 02116
Phone: (617) 262-3760   •   Fax: (617) 262-3415
www.boston.gc.ca

Sources: Merchandise trade and tourism figures are from Statistics Canada, converted at the rate of US$1.00=C$1.3015. Job numbers are based on 2001 data from a 2003 study by Trade Partnership Worldwide commissioned by the Canadian Embassy. Canada's export ranking is from the World Institute for Strategic Economic Research (WISER). All figures are in U.S. dollars. Figures may not add up due to rounding.

• Read the 2004 state trade figures
• Read the 2003 state trade figures
• Read the 2002 state trade figures