Canada Balance of Trade

Last Release

Jan 31, 2025

Actual

3,970

Units In

CAD Million

710

Frequency

Monthly

Next Release

Apr 03, 2025

Time to Release

26 Days 5 Hours

Highest	Lowest	Average	Date Range	Source
8,524.8 Jan 2001	-5,575.1 Dec 2018	1,149.6 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

The Canadian trade surplus widened to CAD 4.0 billion in January 2025, the largest since May 2022 and well above market expectations of CAD 1.3 billion. Canada's merchandise exports rose 5.5% to a record CAD 74.5 billion, while imports increased 2.3% to a record CAD 70.5 billion, marking the fourth consecutive monthly rise for both. Export growth was driven by motor vehicles and parts (+12.5%), energy products (+4.8%), and consumer goods (+7.8%), particularly pharmaceutical products (+41.5%). Exports to the US surged 7.5%, reaching a record CAD 58.2 billion, amid tariff threats, while imports from the US increased 4.7%, expanding the bilateral trade surplus to a record CAD 14.4 billion. Exports to other countries fell 1.0%, while imports decreased 1.4%. Meanwhile, imports were driven by higher imports of aircraft and other transportation equipment (+23.6%), electronic and electrical equipment (+5.8%), and energy products (+8.5%).