Home Trade and Investment State Trade Fact Sheets 2006 New Jersey

New Jersey

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• Canada–U.S. trade supported 5.2 million U.S. jobs
• Total Canada–U.S. merchandise trade: $461 billion
• Canada–New Jersey trade supported 153,000 U.S. jobs
• Canadians made more than 238,300 visits to New Jersey, spending $70 million
• New Jersey residents made 416,500 visits to Canada, spending $197 million

Growing trade in the Garden State
2005 saw continued growth in the New Jersey-Canada partnership. State sales to Canada grew to $3.8 billion, or 15% from the previous year. In fact, all ten leading state exports to Canada increased, most by double digit percentages. New Jersey's leading foreign market was Canada with more sales to its northern neighbor than to its next three markets (UK, Germany and Japan) combined.

Driving economic expansion
Although New Jersey's automotive industry has faced recent challenges, Canadians stimulated the state's economic engine in 2005 with $271 million in automobile imports, a staggering increase of over 700% from the previous year. Overall, the transportation, equipment and machinery sectors generated $674 million in sales to Canadian interests, comprising some of the most active sectors in Canadian imports.

A prescription for success
Medicine and pharmaceutical goods from both countries crossed the border in large quantities. While New Jerseyans imported over half a billion dollars worth of Canadian medicine, the state earned $300 million from medicine and medical supply exports to Canada. With most major pharmaceutical companies represented in New Jersey, their medical innovations benefit both sides of the border.

Energy to succeed
While New Jersey stocked Canadian households, Canada returned the favor with abundant energy supplies. The state sent over a billion dollars in personal and household goods across the border, including medicine, newspapers and magazines and a variety of household goods. Canadian energy flowed in the opposite direction — almost $2.0 billion in crude petroleum and another $228 million in petroleum and coal products — making energy the state's largest import sector. The expanding exchange of personal and household goods for energy proved increasingly profitable for both partners.

Sand and Slots
Canadians flocked to New Jersey beaches and Atlantic City in huge numbers. Canadians made more than 238,300 visits, contributing $70 million to state coffers. New Jersey returned the favor, with 416,500 visits to Canada, and $197 million spent while on vacation.

New Jersey's Leading Exports to Canada
2005, in millions of U.S. dollars

• Automobiles ($271)
• Medicine, in dosage ($231)
• Unshaped plastics ($225)
• Newspapers, magazines & periodicals ($185)
• Organic chemicals ($170)
• Inorganic chemicals ($154)
• Containers ($102)
• Plastic film & sheet ($73)
• Medical, ophthalmic & orthopaedic supplies ($71)
• Paper & paperboard ($64)

New Jersey's Leading Imports from Canada
2005, in millions of U.S. dollars

• Crude petroleum ($1,994)
• Medicine, in dosage ($522)
• Newsprint ($304)
• Petroleum & coal products ($228)
• Containers ($176)
• Organic chemicals ($147)
• Copper & alloys ($134)
• Basic plastic shapes & forms ($132)
• Meat ($126)
• Synthetic rubber & plastics ($107)

Canada-New Jersey Success Stories

Celator Pharmaceuticals (Vancouver) opened a new facility in Princeton, New Jersey, in 2006 as a recipient of capital from the Garden State Life Sciences Venture Fund. Celator is using part of the financing to upgrade from its 1,000-sq. ft. office to a new 11,000-sq. ft. operation where it will develop proprietary cancer treatments.

Victoria, British Columbia-based Carmanah Technologies has installed its world-renowned LED bus stop and shelter lighting kits, which allow bus shelters to be lit through solar power, along the MetroNorth Railway (NJ/NY/CT) system and has begun equipping New Jersey Transit stops with the same technology.

Neuromed Pharmaceuticals Ltd. (Vancouver) and Merck &Co.;, Inc. announced their collaboration and license agreement to research, develop and commercialize novel compounds for the treatment of pain and other neurological disorders, including Neuromed's lead compound, NMED–160, which is currently in Phase II development for the treatment of pain. Under the terms of the agreement, Neuromed grants Merck an exclusive worldwide license to research, develop and commercialize NMED–160 and other compounds that selectively target the N–type calcium channel. Merck will make a $25 million initial cash payment to Neuromed. Neuromed will also receive research funding from Merck for two years as part of the collaborative research program, with an option to renew for an additional two years. Merck is responsible for all development costs and activities.

Patheon Inc. (Toronto) announced that it has entered a five-year master supply agreement to provide commercial manufacturing and pharmaceutical development services to Merck, and that Merck has selected Patheon as one of its strategic partners for commercial manufacturing and pharmaceutical development services.

New Jersey-Canada Facts at a Glance:

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

June 2006

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) 596-1792
www.newyork.gc.ca

Canadian Government Trade Office
10 Skyfield Drive
Princeton, New Jersey 08540-7403
Phone: (609) 333-9940   •   Fax: (609) 333-9943

Consulate of Canada
1500 John F. Kennedy Boulevard, Suite 200
Philadelphia, PA 19102
Phone: (215) 854-6330   •   Fax: (215) 569-0311
www.philadelphia.gc.ca

Sources: Merchandise trade and tourism figures are from Statistics Canada, converted at the rate of US$1.00=C$1.2116. Merchandise trade data is customs-based for the year 2005. 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 2005 state trade figures
• Read the 2004 state trade figures
• Read the 2003 state trade figures
• Read the 2002 state trade figures