Home Trade and Investment State Trade Fact Sheets 2005 New Jersey

New Jersey

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• 153,000 New Jersey 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
• Trade between Canada and New Jersey totaled over $9.2 billion in 2004
• Bilateral trade rose 11% or $946 million from 2003

A solid relationship...
Canada–New Jersey trade was profitable in 2004, having increased by nearly $950 million from the previous year. Approximately 22% of New Jersey’s exports were sold to Canada, reflecting a $100 million increase from 2003. In fact, the state sold more goods to its northern ally than to its next three export markets (the U.K., Japan, and Mexico) combined.

An energetic alliance...
Energy was New Jersey’s largest Canadian import in 2004, with sales totaling nearly $1.5 billion. Crude petroleum accounted for 78% of the state’s energy purchases, followed by petroleum and coal products. In fact, the Garden State imported an additional $317 million or 28% more energy than it did in 2003.

Chemical customers...
Bilateral trade of chemicals increased by $129 million last year. New Jersey provided its northern neighbor with unshaped plastics and organic chemicals totaling $349 million. In exchange, the Garden State received basic plastic shapes and forms, synthetic rubber and plastics, organic chemicals, and other chemical products from Canada, worth $515 million.

A sweet exchange...
Exchanges of agricultural goods increased by 15% in 2004. Canada satisfied its sweet tooth with the sugars, cocoa and chocolate that dominated New Jersey’s agricultural export sector. Overall, the Garden State sold $379 million worth of agricultural goods to Canada last year.

In turn, Canada kept New Jersey healthy with plenty of meat, vegetables, sugars, and cereals. The Garden State imported a total of $648 million worth of agricultural products last year—20% more than in 2003.

Extra, Extra!
Household goods became the second largest export sector from the state in 2004, with sales to Canada grossing $665 million. New Jerseyans kept their Canadian allies up-to-date with a myriad of printed materials, including newspapers, magazines, periodicals, books, and pamphlets.

Canada catered to New Jersey’s apparent need for newsprint by sending the state $594 million worth of forest products, including newsprint, softwood lumber, and paperboard. Newsprint accounted for 44% of all forest product imports to the Garden State.

The perfect summer getaway...
The Jersey shore prompted Canadians to visit the Garden State some 231,000 times and spend $61 million on tourism last year. New Jersey residents sought summer relaxation during their 427,500 visits to Canada, where they spent $227 million in 2004.

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

• Unshaped plastics ($209)
• Newspapers, magazines & periodicals ($173)
• Medicine, in dosage ($163)
• Organic chemicals ($140)
• Containers ($90)
• Inorganic chemicals ($82)
• Medical, ophthalmic & orthopaedic supplies ($75)
• Books & pamphlets ($59)
• Paper & paperboard ($59)
• Plastic film & sheet ($53)

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

• Crude petroleum ($1,141)
• Medicine, in dosage ($425)
• Petroleum & coal products ($324)
• Newsprint ($263)
• Containers ($159)
• Basic plastic shapes & forms ($127)
• Synthetic rubber & plastics ($118)
• Meat ($95)
• Organic chemicals ($90)
• Copper & alloys ($89)

Canada-New Jersey Success Stories

Recently, the NJ government and the Business Development Bank of Canada, together with other investors, invested $40 million dollars in Celator, a company with facilities in both Canada and NJ. This was the first investment made by the NJ government under its Garden State Life Sciences Fund. The corporate headquarters of the company have been moved to NJ, but R&D; remains in British Columbia.

Xenon Pharmaceuticals Inc. entered into an agreement with Novartis Pharma AG to research, develop and commercialize compounds from Xenon’s Stearoyl-CoA Desaturase-1 (SCD1) drug development program. Precommercial payments to Xenon under this transaction total up to $157 million. Xenon will also receive royalties on products developed from this collaboration.

Many of New Jersey’s largest pharmaceutical companies continue to leverage the unique advantages of doing business in Canada. Canada’s generous research and development tax credit systems nurture a world-class scientific community and an unrivalled clinical trails infrastructure. Recent investments by New Jersey-based Schering-Plough facilitated the expansion and modernization of its operations in Quebec.

New Jersey-Canada Facts at a Glance:

• State jobs supported by Canada–U.S. trade: 153,000

July 2005

For more information on Canada's trade with New Jersey, please contact:
Consulate General of Canada
1251 Avenue of the Americas
New York, NY 10020-1175
Phone: (212) 596-1628   •   Fax: (212) 596-1790
www.newyork.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