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

Canada's merchandise trade deficit with the world totaled CAD 3.2 billion in December, widening from a CAD 2.7 billion deficit in November while markets were expecting a CAD 2.2 billion shortfall. Imports rose 1.5 percent and exports were up 0.6 percent, both led by energy products. Balance of Trade in Canada averaged 1379.72 CAD Million from 1971 until 2017, 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 December Trade Gap Larger Than Expected

Canada's merchandise trade deficit with the world totaled CAD 3.2 billion in December, widening from a CAD 2.7 billion deficit in November while markets were expecting a CAD 2.2 billion shortfall. Imports rose 1.5 percent, underpinned by higher purchases of energy products and industrial machinery, equipment and parts. Meantime, exports were up 0.6 percent, driven by sales of energy products and metal and non-metallic mineral products.

Total imports were up 1.5 percent to a record CAD 49.7 billion in December, with increases in 9 of 11 sections. Imports of energy products were up 16.9 percent  to CAD 3.0 billion in December. Crude oil and crude bitumen imports increased 23.9 percent, while refined petroleum energy products rose 17.8 percent, mainly on higher imports of diesel and fuel oils. Purchases of industrial machinery, equipment and parts also grew 6.3 percent to CAD 5.0 billion. Imports of logging, mining and construction machinery and equipment led the way, rising 24.6 percent to a record CAD 897 million, the third consecutive monthly increase. These gains precede new emissions regulations affecting off-road diesel engines and machines. As of January 1, 2018, imports of equipment not meeting the new standards are no longer permitted

Meanwhile, imports of aircraft and other transportation equipment and parts were down 23.4 percent in December to CAD 1.7 billion, after two strong monthly increases, as fewer airliners were imported from the United States.

Imports from the United States fell 1.3 percent to CAD 31.5 billion in December. Following a 5.6 percent increase in November, imports from countries other than the United States rose 6.8 percent to CAD 18.2 billion in December, notably due to higher imports of passenger cars and light trucks from Germany as well as refined petroleum energy products from the Netherlands.

Total exports rose for the third consecutive month, up 0.6 percent to CAD 46.5 billion in December despite decreases in 6 of 11 sections. Shipments of energy products rose 6.2 percent to CAD 8.5 billion in December, the fifth consecutive monthly increase and the highest level since November 2014. Following pipeline disruptions in November, exports of crude oil and crude bitumen led the increase, up 7.4 percent to CAD 5.6 billion on higher volumes. Exports of natural gas (+26.6 percent) and electricity (+48.8 percent) also contributed to the gain as unusually low temperatures hit the North-eastern United States in December. Also, sales of metal and non-metallic mineral products soared  7.7 percent to CAD 5.6 billion. Unwrought precious metals and precious metal alloys led the increase on higher shipments of unwrought gold to Hong Kong, the United States and the United Kingdom.

Exports to the United States were down 0.8 percent to CAD 34.9 billion while those to countries other than the United States rose 4.9 percent to  CAD 11.6 billion in December, led by Japan (aircraft), India (potash), the United Kingdom (unwrought gold) and Hong Kong (also unwrought gold).

Year-on-year, exports were up only 0.4% while imports jumped 7.8 percent.

Statistics Canada | Luisa Carvalho |
2/6/2018 2:15:19 PM

Calendar GMT Actual Previous Consensus TEForecast
2017-12-05 01:30 PM Balance of Trade C$-1.47B C$-3.36B C$-2.7B C$-3.2B
2018-01-05 01:30 PM Balance of Trade C$-2.54B C$-1.55B C$-1.2B C$-1.3B
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$-3.19B C$ -2.8B
2018-04-05 12:30 PM Balance of Trade C$ -2.6B
2018-05-03 12:30 PM Balance of Trade C$ -2.5B

Canada Trade Last Previous Highest Lowest Unit
Balance of Trade -3186.30 -2710.00 8524.80 -4127.40 CAD Million [+]
Exports 46509.60 46248.50 48419.80 1366.00 CAD Million [+]
Imports 49695.90 48958.50 49695.90 1112.00 CAD Million [+]
Current Account -19346.00 -15587.00 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 93.50 91.60 110.30 81.20 Index Points [+]
Foreign Direct Investment 9763.00 223.00 50326.00 -8640.00 CAD Million [+]
Capital Flows -25.00 0.00 4632.00 -672.00 CAD Million [+]
Gold Reserves 0.00 0.00 46.19 0.00 Tonnes [+]
Crude Oil Production 3920.00 3960.00 4107.00 955.00 BBL/D/1K [+]
Terrorism Index 2.96 2.52 3.00 0.65 [+]
Tourist Arrivals 1734869.00 2325263.00 7006165.00 1138895.00 [+]
Weapons Sales 127.00 357.00 469.00 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 February of 2018.

Actual Previous Highest Lowest Dates Unit Frequency
-3186.30 -2710.00 8524.80 -4127.40 1971 - 2017 CAD Million Monthly

balance of trade by Country
Country Last
Australia -1358.00 Dec/17
Brazil 2768.44 Jan/18
Canada -3186.30 Dec/17
China 203.40 Jan/18
Euro Area 25414.60 Dec/17
France -3468.00 Dec/17
Germany 18226.00 Dec/17
India -16298.47 Jan/18
Indonesia -676.90 Jan/18
Italy 5253.08 Dec/17
Japan -943.42 Jan/18
Mexico -156.97 Dec/17
Netherlands 4104.00 Dec/17
Russia 13700.00 Dec/17
South Korea 3700.00 Jan/18
Spain -2050000.00 Dec/17
Switzerland 1323.45 Jan/18
Turkey -9206.19 Dec/17
United Kingdom -4896.00 Dec/17
United States -53118.00 Dec/17