; Canadian Dollar Reaches Parity With U.S. Dollar
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Canadian Dollar Reaches Parity With U.S. Dollar

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In September 2007, the Canadian dollar reached parity with the US dollar for the first time since 1976. In reaching this mark, the Canadian dollar had appreciated more than 33% against the US dollar since February 2002, when the Canadian dollar reached a low of 1.6 to 1 US dollar. Canada, which accounts for about 20% of total US trade, is the largest destination for US exports and the leading source of US imports of products and services. Canada is also the largest agricultural trading partner for the US. Total agricultural imports from Canada grew 6.5% over 2007, down from a previous rate of 7.1%. US imports of Canadian meat and bakery products grew particularly slowly.

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