Canada Balance of Trade

Last Release

Sep 30, 2024

Actual

-1,260

Units In

CAD Million

-1,097

Frequency

Monthly

Next Release

Dec 06, 2024

Time to Release

29 Days 13 Hours

Highest	Lowest	Average	Date Range	Source
8,524.8 Jan 2001	-5,575.1 Dec 2018	1,151.4 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 posted a trade deficit of CAD 1.26 billion in September of 2024, narrowing slightly from the CAD 1.5 billion gap in the previous month but wider than market expectations of a CAD 0.8 billion deficit. Despite the slight decrease, it was the seventh consecutive monthly trade deficit. Imports fell by 0.4% from the previous month amid lower prices for essential goods that the Canadian economy purchases from abroad, driving the volume of imports to remain loosely unchanged. Purchases fell for metal and non-metallic mineral products (-12.7% to CAD 5.3 billion), metal ores (-14.3% to CAD 1.3 billion), and electronic equipment (-5.6% to CAD 7 billion). Exports eased by 0.1% from the previous month to CAD 63.9 billion, as sales fell for energy products (-2.6% to CAD 14.2 billion) and metal and non-metallic mineral products (-5.4% to CAD 7.8 billion), offsetting a rise in forestry products (5.3% to CAD 4 billion) and aircraft and transportation equipment (10.3% to CAD 2.8 billion).