Canada Balance of Trade

Last Release

Jan 31, 2024

Actual

496.1

Units In

CAD Million

-311.5

Frequency

Monthly

Next Release

Apr 05, 2024

Time to Release

28 Days 4 Hours

Highest	Lowest	Average	Date Range	Source
8,524.8 Jan 2001	-5,575.1 Dec 2018	1,173.55 CAD Million	1971-2024	Statistics Canada

Between 1970 and 2008 Canada had been recording trade surpluses every year. From 2009 the trade balance shifted to deficit, with an exception of 2011 and 2014. In 2018, the largest trade deficits were recorded with China, Germany and Mexico, while the biggest trade surpluses were recorded with the US, the UK and Norway.

Latest Updates

Canada reported a trade surplus of CAD 0.5 billion in January 2024, contrasting with a revised deficit of CAD 0.9 billion in December and beating market forecasts of a CAD 0.1 billion surplus. Exports dropped by slower 1.7% over a month to CAD 62.3 billion. Shipments declined most for aircraft & other transportation equipment & parts (-13.9%), primarily aircraft (-25.4%), and metal & non-metallic mineral products (-6.2%), primarily unwrought nickel & nickel alloys (-26.9%) and semi-finished products of non-ferrous metals & non-ferrous metal alloys (-26.5%). Meanwhile, imports decreased by 3.8% to CAD 61.8 billion, the lowest level since February 2022, mainly due to falling purchases of unwrought gold, silver, & platinum group metals (-33.5%), pharmaceuticals (-19.0%), and passenger cars and light trucks (-10.3%).