Canada’s trade deficit narrowed to C$1.31 billion in December 2025 from a C$2.58 billion deficit in November and beating expectations for a C$2.1 billion deficit. Exports rose 2.6% m/m to C$65.63 billion, with metal and non-metallic mineral exports up 18.0% as unwrought gold and related shipments rebounded, while aircraft and other transportation equipment and parts jumped 20.5% to a record high. These gains were partly offset by a 1.0% decline in energy product exports. Exports to the US increased 1.1%. Imports increased 0.6% to C$66.93 billion, led by higher imports of motor vehicles and parts (+5.1%) and metal and non-metallic mineral products (+7.7%), even as consumer-goods imports fell 4.5%. As a result, Canada’s surplus with the US narrowed to C$5.7 billion, while the deficit with countries other than the US narrowed to C$7.0 billion. source: Statistics Canada

Canada recorded a trade deficit of 1310 CAD Million in December of 2025. Balance of Trade in Canada averaged 1047.75 CAD Million from 1971 until 2025, reaching an all time high of 8554.40 CAD Million in January of 2001 and a record low of -7530.20 CAD Million in April of 2025. 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 March of 2026.

Canada recorded a trade deficit of 1310 CAD Million in December of 2025. Balance of Trade in Canada is expected to be -3400.00 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 1300.00 CAD Million in 2027, according to our econometric models.



Calendar GMT Reference Actual Previous Consensus TEForecast
2026-01-29 01:30 PM
Balance of Trade
Nov C$-2.2B C$-0.4B C$-0.7B C$-0.6B
2026-02-19 01:30 PM
Balance of Trade
Dec C$-1.31B C$-2.59B C$-2.1B C$ -2.4B
2026-03-12 12:30 PM
Balance of Trade
Jan C$-1.31B C$-1.1B C$-0.9B


Related Last Previous Unit Reference
Balance of Trade -1310.00 -2590.00 CAD Million Dec 2025
Capital Flows 3682.00 -9479.00 CAD Million Dec 2025
Current Account -700.00 -5300.00 CAD Million Dec 2025
Current Account to GDP -1.40 -0.50 percent of GDP Dec 2025
Exports 65630.00 63950.00 CAD Million Dec 2025
External Debt 4676035.00 4536776.00 CAD Million Sep 2025
Foreign Direct Investment 25130.00 17460.00 CAD Million Dec 2025
Imports 66930.00 66530.00 CAD Million Dec 2025
Oil Exports 9822.90 9504.20 CAD Million Dec 2025
Terms of Trade 101.80 102.00 points Dec 2025
Tourist Arrivals 2069120.00 1642110.00 Dec 2025


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
-1310.00 -2590.00 8554.40 -7530.20 1971 - 2025 CAD Million Monthly
SA

News Stream
Canada Trade Deficit Shrinks More Than Expected
Canada’s trade deficit narrowed to C$1.31 billion in December 2025 from a C$2.58 billion deficit in November and beating expectations for a C$2.1 billion deficit. Exports rose 2.6% m/m to C$65.63 billion, with metal and non-metallic mineral exports up 18.0% as unwrought gold and related shipments rebounded, while aircraft and other transportation equipment and parts jumped 20.5% to a record high. These gains were partly offset by a 1.0% decline in energy product exports. Exports to the US increased 1.1%. Imports increased 0.6% to C$66.93 billion, led by higher imports of motor vehicles and parts (+5.1%) and metal and non-metallic mineral products (+7.7%), even as consumer-goods imports fell 4.5%. As a result, Canada’s surplus with the US narrowed to C$5.7 billion, while the deficit with countries other than the US narrowed to C$7.0 billion.
2026-02-19
Canada Trade Deficit Widens More Than Expected
Canada’s trade deficit widened to C$2.20 billion in November 2025 from a C$0.395 billion deficit in October and way more than the expected deficit of C$0.7 billion. Exports fell 2.8% m/m to C$63.94 billion, with metal and non-metallic mineral exports plunging 24.4% as unwrought gold and related shipments reversed after strong gains, while motor vehicles and parts dropped 11.6%. These moves were partly offset by an 8.5% rise in energy exports, with crude oil and crude bitumen up 7.6% on higher volumes. Exports to the US fell 1.8%. Imports edged down 0.1% to C$66.14 billion, led lower by motor vehicles and parts (-4.5%) and energy imports (-10.6%; crude oil -30.2%), even as consumer-goods imports (including pharmaceuticals and clothing) increased. As a result, Canada’s surplus with the US widened to C$6.6 billion, while the deficit with non-US partners widened to C$8.8 billion.
2026-01-29
Canada Trade Balance Swings to Deficit in October
Canada’s trade swung to a deficit of C$0.58 billion in October 2025 from a C$0.24 billion surplus in September, although better than the expected 1.4 billion deficit. Exports rose 2.1% m/m to C$65.61 billion, but gains were narrowly driven by metals. Metal and non-metallic mineral exports surged 27.3%, led by a 47.4% jump in unwrought gold on strong shipments to the UK, while motor vehicles and parts increased 4.1%. These advances were partly offset by an 8.4% drop in energy exports, with crude oil and bitumen down 13.5% on weaker volumes and prices. Exports to the US fell 3.4%. Imports rebounded 3.4% to C$66.19 billion, led by electronic and electrical equipment at +10.2% and a 9.5% rise in metal and mineral imports driven by higher inflows of unwrought gold and platinum group metals. As a result, Canada’s surplus with the US narrowed from C$8.4 billion to C$4.8 billion, while the deficit with non-US partners narrowed to C$5.4 billion, the smallest since January 2021.
2026-01-08