The trade flow between Brazil and Canada reached US $ 6.04 billion in 2020, with a positive trade balance for Brazil (US$ 2.429 billion). Brazilian exports to Canada in the period grew by 25% compared to 2019, totalling US$ 4.235 billion, according to data from the Brazilian Special Secretariat for Foreign Trade and International Affairs (SECINT). The main products traded included calcined alumina, other raw materials and items related to the mining industry, sugar, coffee, and other agribusiness goods.

In the period, Brazilian imports of Canadian products decreased by 20% compared to the previous year, totalling US$ 1.805 billion. The main products in the list of Brazilian imports included chemicals and fertilizers, medicaments, wheat, and aircraft and parts thereof.

Despite the pandemic, bilateral trade relations have been expanding substantially, especially Brazilian exports. In fact, from March to December, Brazilian exports to Canada rose by 32% in relation to the same period in 2019. Canadian imports from Brazil fell significantly due to the unfavorable exchange rate, totaling only US$ 1.6 billion in the period from March to December 2020.

Canada is the 5th destination of Brazilian exports and 19th origin of Brazilian imports. In terms of investments, the two countries are also important partners. In 2019, Brazil was the 10th major investor in Canada, with nearly CAD$ 15.4 billion. Canada was also the 10th major investor in Brazil, with approximately US$ 13.7 billion.