Canada Balance of Trade

Last Release

Apr 30, 2025

Actual

-7,143.6

Units In

CAD Million

-510

Frequency

Monthly

Next Release

Jul 03, 2025

Time to Release

2 Days 22 Hours

Highest	Lowest	Average	Date Range	Source
8,524.8 Jan 2001	-7,143.6 Apr 2025	1,130.24 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 will scrap its planned Digital Services Tax (DST), which was set to apply retroactively from 2022, to revive trade talks with the U.S. The move came after President Trump canceled negotiations on Friday, calling the DST “a direct and blatant attack on our country.” In a Sunday statement, Ottawa said the reversal aims to “support those negotiations,” with Finance Minister François-Philippe Champagne expressing hopes for a “mutually beneficial comprehensive trade arrangement.” Prime Minister Carney and President Trump agreed to resume talks, targeting a deal by July 21, 2025. Trump has long criticized DSTs as “non-tariff trade barriers” that harm U.S. firms. Canada’s reversal is seen as a political win for Trump, who has accused allies of “ripping off” the U.S. and, since returning to office in January, has threatened a 25% tariff on all Canadian exports, deepening tensions between the close trade partners.