Canada Balance of Trade

Last Release

Feb 28, 2025

Actual

-1,520

Units In

CAD Million

3,970

Frequency

Monthly

Next Release

May 06, 2025

Time to Release

1 Months 0 Days 12 Hours

Highest	Lowest	Average	Date Range	Source
8,524.8 Jan 2001	-5,575.1 Dec 2018	1,145.49 CAD Million	1971-2025	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 deficit of CAD 1.5 billion in February 2025, shifting from a revised 32-month high surplus of CAD 3.1 billion in January and missing the expected CAD 3.4 billion surplus. Exports decreased 5.5% over a month to CAD 70.1 billion, yet the second highest since May 2022. Declines were observed in 10 of the 11 product sections, led by energy products (-6.3%), motor vehicles and parts (-8.8%), and metal & non-metallic mineral products (-6.6%). Moreover, exports of forestry products and building and packaging materials declined by 10.8%. Imports rose 0.8% to a fresh record high of CAD 71.6 billion, marking a fifth consecutive monthly gain, after increasing by 2.4% in January. Imports increased primarily for motor vehicles and parts (+5.8%), industrial machinery, equipment and parts (+3.1%), energy products (+5.2%) and metal and non-metallic mineral products (+3.5%).