State trade fact sheets - Massachusetts
- Canada is Massachusetts’ #1 customer
- 688,000 Canadian travelers spent $260 million in Massachusetts in 2017
- 516 Canadian-owned businesses employ 37,011 workers in Massachusetts
- Canada is Massachusetts’ #1 export market
- Canada sells more to Massachusetts than it sells to Mexico
Manulife’s John Hancock is Global Icon
John Hancock ($480 billion of assets), the U.S. division of Toronto-based Manulife, employs over 1,100 people in Massachusetts and is one of the United States' most recognized brands. The 2018 recipient of AIM's President's trophy for leadership in the Commonwealth of Massachusetts, John Hancock offers a broad range of financial products to individuals and corporations. Equally important, as the lead sponsor of the Boston Marathon, John Hancock plays a major role in bringing global elite athletes and the world's attention to Massachusetts each April. Nearly one quarter of the Marathon runners — approximately 7,000 — hail from close to 100 countries outside the U.S.
Canadian Innovation in the Hub
In 2013, the Consulate General of Canada launched its Canadian Technology Accelerator in Boston program: CTA@Boston. CTA Boston is an award-winning federal accelerator program that connects selected Canadian IT and Life Science companies to U.S. customers, strategic partners and investors and provides them with high-impact advisory services. Clients work out of the Cambridge Innovation Center (CIC) for the 5-month program. CTA@Boston contributes to the local economy through its residence at the CIC, and participating companies bring new technologies, partnerships, ideas, energy, expertise that further enrich Massachusetts' thriving technology and innovation ecosystem. Awarded global recognition for the Accelerator Program of the Year Award from the International Business Innovation Association, in the first five years, the CTA@Boston has managed 105 Canadian companies who have since raised $69 million in capital, developed over 300 new strategic partnerships and created close to 400 new jobs.
Canadian-Owned Companies Support Massachusetts Jobs
In 2019, 516 Canadian-owned companies operated in the Commonwealth of Massachusetts. These companies created over 37,000 jobs in Massachusetts, while the Commonwealth exported over $5 billion of goods and services to Canada. According to the Bureau of Labor Statistics data, the average salary in Massachusetts is $63,910. This means that Canadian-owned businesses are directly responsible for $2.4 billion in salary dollars.
Canadian-owned companies, including John Hancock, SunLife, TD Bank and MFS are clearly major contributors to Massachusetts' economy employing MA residents in every sector of the economy, paying taxes locally and contributing to the local economy through these salary dollars.
Massachusetts exports $2.9 billion in goods to Canada annually
Massachusetts exports to Canada by industry
- Agriculture: 9%
- Chemicals: 9%
- Equipment & machinery: 38%
- Forest products: 6%
- Minerals & metals: 13%
- Plastics & rubbers: 9%
- Transportation: 10%
- Other: 6%
Massachusetts imports $8.1 billion in goods from Canada annually
Massachusetts imports from Canada by industry
- Agriculture: 27%
- Energy: 27%
- Equipment & machinery: 7%
- Forest products: 9%
- Minerals & metals: 15%
- Plastics & rubbers: 4%
- Other: 11%
Top Massachusetts goods exports to Canada
- Optical, medical & precision instruments: $417 million
- Plastics & plastic articles: $239 million
- Aircraft & parts: $230 million
- Pearls, gems, precious metals & jewelry: $229 million
- Computers: $202 million
- Paper & paperboard: $134 million
- Fish & crustaceans: $104 million
- Telephones & AV recording equipment: $81 million
- Pharmaceutical products: $80 million
- Paints, pigments, varnishes, dyestuffs & inks: $46 million
Top Massachusetts goods imports from Canada
- Fuel oil: $1.6 billion
- Fish & crustaceans: $1.4 billion
- Pearls, gems, precious metals & jewelry: $729 million
- Natural gas & other gases: $492 million
- Paper & paperboard: $327 million
- Meat, fish & seafood preparations: $278 million
- Plastics & plastic articles: $277 million
- Furniture & bedding: $235 million
- Softwood lumber: $200 million
- Wood & semi-finished wood products: $200 million
Massachusetts exports $2.4 billion in services to Canada annually
Top Massachusetts services exports to Canada
- Travel services: $653 million
- Business & professional services: $520 million
- Financial services: $469 million
- Royalties: $400 million
- Tech services: $199 million
For more information on Massachusetts’ trade with Canada, please contact our trade team in Boston.
- Unless otherwise mentioned, all figures are based on 2019 data in U.S. dollars.
- U.S. Census Bureau: goods trade, Canada’s export ranking (2/2020 release).
- The Trade Partnership: 2018 services exports (estimated, 2/2020 release).
- Statistics Canada: 2017 tourism, based on combined same-day and overnight travel (8/2019 release, US$1.00=C$1.2986).
- Dun + Bradstreet: Canadian-owned businesses (12/2019 release).
- U.S. Bureau of Labor Statistics: median annual Massachusetts wage ($63,910, 3/2019 release).
- Figures may not add up due to rounding.
- Date Modified: