Canada Balance of Trade

Last Release

Dec 31, 2024

Actual

710

Units In

CAD Million

-320

Frequency

Monthly

Next Release

Mar 06, 2025

Time to Release

26 Days 23 Hours

Highest	Lowest	Average	Date Range	Source
8,524.8 Jan 2001	-5,575.1 Dec 2018	1,145.25 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 surplus of C$0.7 billion in December of 2024, swinging from the upwardly revised deficit of C$1 billion in the previous month, and loosely in line with market expectations of a C$0.75 billion surplus. Exports of goods jumped by 4.9% from the previous month to C$69.5 billion, the third highest reading on record, amid strong sales of energy products (9.5%), metal and non-metallic minerals (9.2%), and motor vehicles (3.9%). In the meantime, imports rose by 2.3% to a record high of $68.8 billion, amid higher purchases of consumer goods (4.7%) and non-metallic mineral products (8.7%). The rise in trade turnover was supported by the sharp depreciation in the Canadian dollar, inflating trade turnover expressed in US dollars that are used for transactions. In turn, the Canadian trade surplus with the US was at $102.3 billion for 2024, narrowing from $108.3 billion in 2023, ahead of potential tariffs by the US.