Canada Balance of Trade  1971-2018 | Data | Chart | Calendar | Forecast

Canada's merchandise trade deficit widened to CAD 2.69 billion in February of 2018 from an upwardly revised CAD 1.94 billion in January and above market expectations of a CAD 2.1 billion deficit. Imports advanced 1.9 percent month-over-month, mostly due to higher purchases of energy products. Exports rose 0.4 percent, mainly due to higher sales of passenger cars and light trucks. Balance of Trade in Canada averaged 1367.86 CAD Million from 1971 until 2018, reaching an all time high of 8524.80 CAD Million in January of 2001 and a record low of -4127.40 CAD Million in September of 2016.

Canada Balance of Trade
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Canada Trade Deficit Widens in February


Canada's merchandise trade deficit widened to CAD 2.69 billion in February of 2018 from an upwardly revised CAD 1.94 billion in January and above market expectations of a CAD 2.1 billion deficit. Imports advanced 1.9 percent month-over-month, mostly due to higher purchases of energy products. Exports rose 0.4 percent, mainly due to higher sales of passenger cars and light trucks.

Total imports increased 1.9 percent month-over-month in February to CAD 48.6 billion, after dropping 4.3 percent in the previous month. Purchases of energy products advanced 15.4 percent to CAD 3.4 billion, the highest rise since November of 2014. Additionally imports of crude oil and crude bitumen rose 15.4 percent and purchases of refined petroleum energy products went up 24.1 percent, partially due to higher imports of motor gasoline in British Columbia. Also, imports of motor vehicles and parts rebounded (+1.7 percent to CAD 9.4 billion). On the other hand, purchases fell for metal ores and non-metallic minerals (-11.9 percent), namely gold and in the metal and non-metallic mineral (-3.0 percent). Lower imports of both gold bullion and unwrought gold were manily due to disruptions in gold mining activity, particularly in Argentina and the Dominican Republic. Year over year, total imports increased 3.5 percent.

Imports from the United States rose 3.3 percent to CAD 32.1 billion, led by higher imports of aircraft. Purchases from countries other than the United States fell 0.6 percent to CAD 16.6 billion, as imports of gold from the Dominican Republic and Argentina dropped.

Exports rose 0.4 percent month-over-month to CAD 45.9 billion in February. Sales of motor vehicles and parts, and aircraft and other transportation equipment and parts went up 5.0 percent to CAD 7.5 billion, mainly passenger cars and light trucks (+6.7 percent) and after plant closures in January. In addition, exports of aircraft, other transportation equipment and parts increased 19.6 percent to CAD 1.7 billion, rebounding from a 21.9 percent fall in the prior month. In contrast, sales of farm, fishing and intermediate food products declined 17.2 percent to CAD 2.4 billion, the largest drop on record, namely wheat (-41.6 percent) and canola (-40.1 percent). Also, sales of metal and non-metallic minerals decreased in February, down 7.2 percent to CAD 5.2 billion, mainly unwrought precious metals and precious metal alloys (-34.3 percent), as shipments of unwrought gold to the United Kingdom dropped. Exports excluding energy products went up 0.7 percent. Year over year, total exports rose 1.5 percent. 

Exports to the United States increased 1.9 percent to CAD 34.6 billion, mostly due to higher sales of passenger cars and light trucks. Sales to countries other than the United States went down 4.2 percent to CAD 11.3 billion, due to lower exports of unwrought gold to the United Kingdom.



Statistics Canada | Stefanie Moya | stefanie.moya@tradingeconomics.com
4/5/2018 1:29:23 PM



Calendar GMT Actual Previous Consensus TEForecast
2018-02-06 01:30 PM Balance of Trade C$-3.19B C$-2.71B C$-2.2B C$ -1.9B
2018-03-07 01:30 PM Balance of Trade C$-1.91B C$-3.05B C$-2.5B C$ -2.5B
2018-04-05 12:30 PM Balance of Trade C$-2.69B C$-1.94B C$-2.1B C$ -2B
2018-05-03 12:30 PM Balance of Trade C$-2.69B C$ -2.1B
2018-06-06 12:30 PM Balance of Trade C$ -2.1B
2018-07-06 12:30 PM Balance of Trade C$ -2.1B


Canada Trade Last Previous Highest Lowest Unit
Balance of Trade -2686.00 -1938.00 8524.80 -4127.40 CAD Million [+]
Exports 45941.40 45777.70 48456.30 1366.00 CAD Million [+]
Imports 48627.40 47715.70 49866.00 1112.00 CAD Million [+]
Current Account -16346.00 -18589.00 12230.00 -20197.00 CAD Million [+]
Current Account to GDP -3.30 -3.40 2.70 -4.20 percent [+]
External Debt 631.90 615.99 631.90 14.82 CAD Billion [+]
Terms of Trade 92.70 94.80 110.30 81.20 Index Points [+]
Foreign Direct Investment 8333.00 13777.00 50326.00 -8640.00 CAD Million [+]
Capital Flows 0.00 -25.00 4632.00 -672.00 CAD Million [+]
Gold Reserves 0.00 0.00 46.19 0.00 Tonnes [+]
Crude Oil Production 3918.00 4249.00 4249.00 955.00 BBL/D/1K [+]
Terrorism Index 2.96 2.52 3.00 0.65 [+]
Tourist Arrivals 1479351.00 2095457.00 7006165.00 1138895.00 [+]
Weapons Sales 87.00 144.00 469.00 38.00 USD Million [+]

Exports by Country  |   Exports by Category  |   Imports by Country  |   Imports by Category



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 2017, the largest trade deficits were recorded with China, Mexico and Germany, while the biggest trade surpluses were recorded with the United States, the United Kingdom and India. 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 - actual data, historical chart and calendar of releases - was last updated on April of 2018.

Actual Previous Highest Lowest Dates Unit Frequency
-2686.00 -1938.00 8524.80 -4127.40 1971 - 2018 CAD Million Monthly




balance of trade by Country
Country Last
Australia 825.00 Feb/18
Brazil 6280.75 Mar/18
Canada -2686.00 Feb/18
China -49.83 Mar/18
Euro Area 18897.50 Feb/18
France -5186.00 Feb/18
Germany 18400.00 Feb/18
India -13690.00 Mar/18
Indonesia 1091.70 Mar/18
Italy 3104.28 Feb/18
Japan 797.35 Mar/18
Mexico 1062.00 Feb/18
Netherlands 4514.00 Feb/18
Russia 12192.00 Feb/18
South Korea 6865.00 Mar/18
Spain -3935000.00 Jan/18
Switzerland 3215.34 Feb/18
Turkey -5760.71 Feb/18
United Kingdom -965.00 Feb/18
United States -57591.00 Feb/18


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