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On our doorstep – a region of opportunity

North American businesses see corridor countries as key to international expansion

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The North American corridor is one of the world’s largest by GDP, with more than US$20trn in trade – a quarter of the global economy’s turnover – generated each year by Canada, Mexico and the United States. With a new, tentative North American trilateral trade agreement recently reached, there is an increasing level of competition for Canadian companies doing business across the region – and beyond.


In a recent HSBC Bank plc survey of 6,000 international firms from around the world, more than three in four (77%) were optimistic about their international prospects. In North America, companies in all three countries shared a positive outlook about growing business beyond their borders. In all three North American countries, the surveyed businesses rank the other North American countries as their top two most important target markets for expansion.

  • US firms identify Canada (20%), Mexico (19%) and Japan (11%) as their primary markets for expansion;
  • Mexican firms are focused on expansion in the United States (39%), Canada (27%) and Argentina (10%);
  • Canadian firms see opportunity in the United States (36%), Mexico (18%) and China (14%).

The US is Canada’s biggest export market (US$346bn) – a position that isn’t set to change between now and 2030.  The new United States-Mexico-Canada Agreement (USMCA) provides more business certainty and will alleviate many concerns over anti-trade and protectionist measures, while promoting future growth for businesses across the Corridor.

With the strong opportunity on our doorstep, it is essential for your business to gain a competitive advantage – and finding the right partner is key. Whether you’re looking to challenge complexity head-on, grow your business through new market expansion or operate your business with greater confidence, explore how HSBC can make the most of opportunities across the North America corridor.

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