A new study from BMO Capital Markets confirms what many Canadian consumers already know: We are paying more than Americans for identical goods…much more.

Despite the strong Canadian dollar being well above par (as of today it stood at around $1.04 U.S.), Canadians often pay up to 20% more for consumer goods such as shoes, clothing, books, furniture, appliances, cars and electronic goods.

Bruce Cran, President of the Consumer’s Association of Canada, estimates that Canadian’s actually pay about 30% more than our American neighbours.

Many Canadian retailers claim that the price difference is due to higher taxes and duties and the generally higher cost of doing business in Canada, which may be true to a certain extent, but a 30% difference? That just seems hard to justify, and even harder to swallow for Canadian consumers.

The massive price gap, combined with the strong Canadian dollar, means that cross border shopping is more attractive than ever. Whether you’re shopping online with a U.S. retailer or making a shopping trip down to Buffalo, Niagara Falls, Seattle, Tulalip, Plattsburgh or any other U.S. border city, there are big savings to be had in the United States.