Canada’s trade deficit widened to C$3.6 billion in January 2026 from a C$1.3 billion deficit in December and way more than the expected C$0.9 deficit. Exports fell 4.7% m/m to C$62.48 billion, with motor vehicle and parts exports down 21.2% as production stoppages affected passenger car shipments, while aircraft and other transportation equipment and parts decreased 16.0%. These declines were partly offset by a 4.1% increase in energy product exports, driven by natural gas. Exports to the US decreased 3.8%. Imports decreased 1.1% to C$66.13 billion, led by lower imports of motor vehicles and parts (-4.5%) and electronic and electrical equipment and parts (-3.6%), even as imports of industrial machinery, equipment and parts rose 3.4%. As a result, Canada’s surplus with the US narrowed to C$5.4 billion, while the deficit with countries other than the US widened to C$9.0 billion. source: Statistics Canada

Canada recorded a trade deficit of 3650 CAD Million in January of 2026. Balance of Trade in Canada averaged 1040.66 CAD Million from 1971 until 2026, 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 3650 CAD Million in January of 2026. 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
2026-02-19 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$-3.65B C$-1.3B C$-0.9B C$-0.9B
2026-04-02 12:30 PM
Balance of Trade
Feb C$-3.65B C$-1.9B C$-1.8B


Related Last Previous Unit Reference
Balance of Trade -3650.00 -1300.00 CAD Million Jan 2026
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 62480.00 65550.00 CAD Million Jan 2026
External Debt 4795130.00 4692066.00 CAD Million Dec 2025
Foreign Direct Investment 25130.00 17460.00 CAD Million Dec 2025
Imports 66130.00 66850.00 CAD Million Jan 2026
Oil Exports 9944.00 9769.70 CAD Million Jan 2026
Terms of Trade 103.30 101.40 points Jan 2026
Tourist Arrivals 1404733.00 2069120.00 Jan 2026


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
-3650.00 -1300.00 8554.40 -7530.20 1971 - 2026 CAD Million Monthly
SA

News Stream
Canada Trade Deficit Widens More Than Expected
Canada’s trade deficit widened to C$3.6 billion in January 2026 from a C$1.3 billion deficit in December and way more than the expected C$0.9 deficit. Exports fell 4.7% m/m to C$62.48 billion, with motor vehicle and parts exports down 21.2% as production stoppages affected passenger car shipments, while aircraft and other transportation equipment and parts decreased 16.0%. These declines were partly offset by a 4.1% increase in energy product exports, driven by natural gas. Exports to the US decreased 3.8%. Imports decreased 1.1% to C$66.13 billion, led by lower imports of motor vehicles and parts (-4.5%) and electronic and electrical equipment and parts (-3.6%), even as imports of industrial machinery, equipment and parts rose 3.4%. As a result, Canada’s surplus with the US narrowed to C$5.4 billion, while the deficit with countries other than the US widened to C$9.0 billion.
2026-03-12
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