Canada’s trade surplus narrowed to CAD 1.04 billion in February of 2021 from a downwardly revised CAD 1.21 billion in the previous month. This was the first time since late 2016 that the trade balance was in a surplus position for two consecutive months. After a surge of 8.2 percent in January, total exports decreased by 2.7 percent to CAD 49.9 billion in February, a level 4.1 percent higher than that set in February 2020. The largest declines were observed in the metal and non-metallic mineral products, motor vehicles and parts, and aircraft and other transportation equipment and parts product sections. Total imports decreased by 2.4 percent in February to CAD 48.8 billion, their lowest level since August 2020. Imports of motor vehicles and parts had the largest decline, followed by energy products. source: Statistics Canada

Balance of Trade in Canada averaged 1175.38 CAD Million from 1971 until 2021, reaching an all time high of 8524.80 CAD Million in January of 2001 and a record low of -5575.10 CAD Million in December of 2018. This page provides the latest reported value for - Canada Balance of Trade - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news. Canada Balance of Trade - data, historical chart, forecasts and calendar of releases - was last updated on April of 2021.

Balance of Trade in Canada is expected to be -1200.00 CAD Million by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Balance of Trade in Canada to stand at -500.00 in 12 months time. In the long-term, the Canada Balance of Trade is projected to trend around 200.00 CAD Million in 2022, according to our econometric models.

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Canada Balance of Trade

Actual Previous Highest Lowest Dates Unit Frequency
1039.10 1205.90 8524.80 -5575.10 1971 - 2021 CAD Million Monthly


Calendar GMT Actual Previous Consensus TEForecast
2021-01-07 01:30 PM Nov C$-3.34B C$-3.73B C$-3.5B C$-3.2B
2021-02-05 01:30 PM Dec C$-1.67B C$-3.56B C$-3B C$ -3.2B
2021-03-05 01:30 PM Jan C$1.41B C$-1.98B C$-1.4B C$ -1.6B
2021-04-07 12:30 PM Feb C$1.04B C$1.21B C$1B C$1.5B
2021-05-04 12:30 PM Mar C$1.04B C$ -1.2B
2021-06-08 12:30 PM Apr
2021-07-02 12:30 PM May
2021-08-05 12:30 PM Jun C$ -1.1B


News Stream
Canada Trade Surplus Narrows in February
Canada’s trade surplus narrowed to CAD 1.04 billion in February of 2021 from a downwardly revised CAD 1.21 billion in the previous month. This was the first time since late 2016 that the trade balance was in a surplus position for two consecutive months. After a surge of 8.2 percent in January, total exports decreased by 2.7 percent to CAD 49.9 billion in February, a level 4.1 percent higher than that set in February 2020. The largest declines were observed in the metal and non-metallic mineral products, motor vehicles and parts, and aircraft and other transportation equipment and parts product sections. Total imports decreased by 2.4 percent in February to CAD 48.8 billion, their lowest level since August 2020. Imports of motor vehicles and parts had the largest decline, followed by energy products.
2021-04-07
Canada Unexpectedly Posts Trade Surplus
Canada posted a trade surplus of CAD 1.4 billion in January, the first since May 2019, beating market forecasts of a CAD 1.4 billion shortfall. It was also the largest surplus since July 2014, as exports jumped 8.1% to CAD 51.2 billion, the largest percentage increase since the rebound in the summer of 2020 that followed the easing of restrictions following the first wave of the pandemic. Exports of aircraft and other transportation equipment and parts rose 72.3% in January, mainly on atypical growth in aircraft exports, which more than doubled. A Canadian airline retired a large number of aircraft from its fleet in January, resulting in the export of these used airliners to the United States. Imports rose 0.9% to CAD 49.8 billion, with purchases of energy products (+20.5%) posting the largest gain, mainly on higher imports of refined petroleum products (+87.8%).
2021-03-05
Canada Trade Gap Narrows in December
Canada's trade deficit narrowed to CAD 1.7 billion in December of 2020 from CAD 3.6 billion in November, well below market forecasts of a CAD 3 billion shortfall. It is the lowest trade deficit since June of 2020, as exports rose 1.5% to CAD 47.3 billion, with energy products rising the most. Imports fell 2.3% to CAD 49 billion, the largest decrease since May, mainly because of lower imports of consumer goods. For the year 2020, Canada's trade deficit totalled CAD 36.2 billion, more than double the deficit observed in 2019. Exports fell by 12.3% while imports were down by 8.6%. By comparison, during the last major economic downturn, in 2009, annual merchandise exports dropped 24.6% and imports fell 15.7%.
2021-02-05
Canada Trade Deficit Narrows More than Expected
Canada’s trade deficit narrowed to CAD 3.34 billion in November of 2020 from a downwardly revised CAD 3.73 billion in the previous month and compared with market expectations of a CAD 3.5 billion gap. Exports increased 0.5% to CAD 46.76 billion, boosted by sales of gold while imports edged down 0.3% to CAD 50.10 billion, on lower imports of industrial machinery, equipment and parts. Canada's trade surplus with the United States narrowed to CAD 2.3 billion from CAD 3.1 billion in October, as exports fell 2.2% while imports edged up 0.3%. The trade deficit with countries other than the United States narrowed to CAD 5.7 billion from CAD 6.9 billion, with exports rising 7.4% and imports falling 1.3%.
2021-01-07

Canada Balance of Trade
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.