Canada reported a trade surplus of CAD 0.5 billion in January 2024, contrasting with a revised deficit of CAD 0.9 billion in December and beating market forecasts of a CAD 0.1 billion surplus. Exports dropped by slower 1.7% over a month to CAD 62.3 billion. Shipments declined most for aircraft & other transportation equipment & parts (-13.9%), primarily aircraft (-25.4%), and metal & non-metallic mineral products (-6.2%), primarily unwrought nickel & nickel alloys (-26.9%) and semi-finished products of non-ferrous metals & non-ferrous metal alloys (-26.5%). Meanwhile, imports decreased by 3.8% to CAD 61.8 billion, the lowest level since February 2022, mainly due to falling purchases of unwrought gold, silver, & platinum group metals (-33.5%), pharmaceuticals (-19.0%), and passenger cars and light trucks (-10.3%). source: Statistics Canada

Canada recorded a trade surplus of 496.10 CAD Million in January of 2024. Balance of Trade in Canada averaged 1142.64 CAD Million from 1971 until 2024, reaching an all time high of 8554.40 CAD Million in January of 2001 and a record low of -5755.00 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 2024.

Canada recorded a trade surplus of 496.10 CAD Million in January of 2024. Balance of Trade in Canada is expected to be 2549.00 CAD Million by the end of this quarter, according to Trading Economics global macro models and analysts expectations. In the long-term, the Canada Balance of Trade is projected to trend around 246.00 CAD Million in 2025 and 200.00 CAD Million in 2026, according to our econometric models.



Calendar GMT Reference Actual Previous Consensus TEForecast
2024-02-07 01:30 PM
Balance of Trade
Dec C$-0.31B C$1.06B C$1.1B C$1.8B
2024-03-07 01:30 PM
Balance of Trade
Jan C$0.5B C$-0.86B C$0.1B C$-0.7B
2024-04-04 12:30 PM
Balance of Trade
Feb C$0.5B C$0.8B C$0.5B


Related Last Previous Unit Reference
Balance of Trade 496.10 -862.80 CAD Million Jan 2024
Capital Flows 3966.00 -7870.00 CAD Million Dec 2023
Current Account -1618.00 -4740.00 CAD Million Dec 2023
Current Account to GDP -0.40 -0.30 percent of GDP Dec 2022
Exports 62284.80 63372.40 CAD Million Jan 2024
External Debt 4150252.00 3937375.00 CAD Million Dec 2023
Foreign Direct Investment 11343.00 20135.00 CAD Million Dec 2023
Imports 61788.70 64235.20 CAD Million Jan 2024
Oil Exports 10426.00 11016.90 CAD Million Jan 2024
Terms of Trade 103.90 103.80 points Jan 2024
Tourist Arrivals 1189366.00 1993965.00 Jan 2024

Canada Balance of Trade
Between 1980 and 2008, Canada recorded a positive trade balance every year, with an expectation of 1991 and 1992. From 2009 onwards, the trade balance shifted to a deficit. In 2021, it switched again to a trade surplus, with energy products making the largest share of exports. The United States remains the country's biggest trading partner.
Actual Previous Highest Lowest Dates Unit Frequency
496.10 -862.80 8554.40 -5755.00 1971 - 2024 CAD Million Monthly

News Stream
Canada Trade Surplus Larger-Than-Anticipated in January
Canada reported a trade surplus of CAD 0.5 billion in January 2024, contrasting with a revised deficit of CAD 0.9 billion in December and beating market forecasts of a CAD 0.1 billion surplus. Exports dropped by slower 1.7% over a month to CAD 62.3 billion. Shipments declined most for aircraft & other transportation equipment & parts (-13.9%), primarily aircraft (-25.4%), and metal & non-metallic mineral products (-6.2%), primarily unwrought nickel & nickel alloys (-26.9%) and semi-finished products of non-ferrous metals & non-ferrous metal alloys (-26.5%). Meanwhile, imports decreased by 3.8% to CAD 61.8 billion, the lowest level since February 2022, mainly due to falling purchases of unwrought gold, silver, & platinum group metals (-33.5%), pharmaceuticals (-19.0%), and passenger cars and light trucks (-10.3%).
2024-03-07
Canada Posts Surprise Trade Gap in December
Canada reported a trade deficit of CAD 0.3 billion in December of 2023, contrasting with a downwardly revised surplus of CAD 1.1 billion in November and against market forecasts of a CAD 1.1 billion surplus. It was the first monthly trade gap since July, as exports dropped by 1.9% over a month to CAD 64.1 billion in December, largely on passenger cars and light trucks (-11.6%) and crude oil (-4.9%). Imports rose by 0.2% to CAD 64.4 billion, mainly due to purchases of pharmaceuticals (+28.1%), as well as unwrought gold, silver, platinum group metals (+15.8%). However, these gains were largely offset by declines in other product categories, including electronic, electrical equipment and parts (-5.7%); energy products (-9.9%); aircraft and other transportation equipment and parts (-11.7%); and motor vehicles and parts (-2.1%). Canada's trade balance shifted to a slight deficit of $1.4 billion in 2023 from a surplus of $19.7 billion in 2022, with both exports and imports falling by 1.4%.
2024-02-07
Canada Trade Surplus Narrows More than Expected
Canada recorded a trade surplus of CAD 1.6 billion in November of 2023, narrowing considerably from the CAD 3.2 billion surplus in the previous month and under market expectations of CAD 2 billion. The narrower surplus was attributed to a 1.9% increase in imports to CAD 64.2 billion. Foreign purchases rose for 8 of 11 product sections, led by an increase in energy imports (11.6%) amid significant buying of uranium for Kazakhstan, consistent with mining troubles from domestic mines. Also narrowing the surplus, exports fell by 0.6% to CAD 65.7 billion with declines in 7 of 11 product sections, led by lower sales of metal and non-metallic mineral products and aircraft and transportation equipment.
2024-01-09