Canada trade deficit narrowed to CAD 0.42 billion in September of 2018 from a revised CAD 0.55 billion shortfall in the previous month and against market expectations of a CAD 0.15 billion surplus. Exports edged down 0.2 percent, due to consumer goods. Meanwhile, imports fell at a higher 0.4 percent, dragged down by aircraft and other transportation equipment and parts and energy products. Balance of Trade in Canada averaged 1332.62 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.

Balance of Trade in Canada is expected to be -1200.00 CAD Million by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Balance of Trade in Canada to stand at -3000.00 in 12 months time. In the long-term, the Canada Balance of Trade is projected to trend around -2800.00 CAD Million in 2020, according to our econometric models.

Canada Balance of Trade
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Calendar GMT Actual Previous Consensus TEForecast
2018-09-05 12:30 PM Balance of Trade C$-0.11B C$-0.74B C$-1.13B C$ -0.5B
2018-10-05 12:30 PM Balance of Trade C$0.53B C$-0.19B C$-0.5B C$ -0.2B
2018-11-02 12:30 PM Balance of Trade C$-0.42B C$-0.55B C$0.15B C$ 0.4B
2018-12-06 01:30 PM Balance of Trade C$-0.42B C$ -0.3B



Canada Unexpectedly Posts Trade Deficit


Canada trade deficit narrowed to CAD 0.42 billion in September of 2018 from a revised CAD 0.55 billion trade gap in the previous month and against market expectations of a CAD 0.15 billion surplus. Exports edged down 0.2 percent, due to consumer goods while imports fell at a faster 0.4 percent, dragged down by aircraft and other transportation equipment and parts and energy products.

Exports from Canada edged down 0.2 percent month-over-month to CAD 50.4 billion in September of 2018, despite increases in 6 of 11 product sections. Export volumes fell 1.2 percent, while prices were up 1.1 percent. Sales of consumer goods decreased 3.9 percent to CAD 6 billion, namely other food products (-10.7 percent), as lentils and peas. On the other hand, export of energy products rose 2.3 percent, as refined petroleum products (+10.6 percent), mostly on the strength of heavy fuel oil exports to the United States; and crude oil exports (+1 percent). Higher prices (+5.6 percent) were behind the increase in crude oil exports in September, while volumes decreased 4.3 percent. Exports excluding energy products fell 0.8 percent, a second consecutive monthly decline. Year over year, total exports increased 15.7 percent.

Exports to the United States went up 0.4 percent to CAD 37.8 billion and exports to other than the US declined 1.8 percent to CAD 12.5 billion, particularly to Hong Kong, Italy, India and Spain. These declines were partially offset by a sharp increase in exports to China. 

Imports to Canada fell at a faster 0.4 percent from the previous month to CAD 50.8 billion, despite gains in 6 of 11 product sections. Import volumes decreased 1.5 percent, while prices rose 1.1 percent. Purchases of aircraft and other transportation equipment and parts declined by 28.3 percent, due to a CAD 598 million decrease in imports of ships. Three icebreakers were imported from Sweden at the end of August, followed by none in September. Excluding the imports of these ships in August, total imports would have risen 0.8 percent in September. Additionally, imports of energy products went down 11.5 percent, as crude oil imports drop 13.2 percent, mainly due to lower imports from Saudi Arabia and the United Kingdom; and refined petroleum energy products (-18.9 percent). Year over year, total imports increased 8.5 percent.

Imports from the United States rose 1.2 percent to CAD 33.1 billion, partly on the strength of higher imports of gold. From other countries than the US, purchases fell 3.3 percent to CAD 17.7 billion, namely Sweden, Japan, Switzerland and Mexico, while those from China increased. 


Statistics Canada | Agna Gabriel | agna.gabriel@tradingeconomics.com
11/2/2018 1:27:18 PM



Canada Trade Last Previous Highest Lowest Unit
Balance of Trade -416.30 -550.90 8524.80 -4127.40 CAD Million [+]
Exports 50374.60 50453.20 51196.50 1366.00 CAD Million [+]
Imports 50790.90 51004.10 51933.70 1112.00 CAD Million [+]
Current Account -15880.00 -17500.00 12230.00 -20197.00 CAD Million [+]
Current Account to GDP -3.00 -3.30 2.70 -4.20 percent [+]
External Debt 2534415.00 2506383.00 2534415.00 795408.00 CAD Billion [+]
Terms of Trade 94.00 93.10 110.30 81.20 Index Points [+]
Foreign Direct Investment 11674.00 16752.00 50326.00 -8640.00 CAD Million [+]
Capital Flows 0.00 -51.00 4632.00 -672.00 CAD Million [+]
Gold Reserves 0.00 0.00 46.20 0.00 Tonnes [+]
Crude Oil Production 3783.00 4123.00 4297.00 955.00 BBL/D/1K [+]
Terrorism Index 2.96 2.52 3.00 0.65 [+]
Tourist Arrivals 4317732.00 4501253.00 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 November of 2018.

Actual Previous Highest Lowest Dates Unit Frequency
-416.30 -550.90 8524.80 -4127.40 1971 - 2018 CAD Million Monthly




Country Last
Argentina 314.00 Sep/18
Australia 3017.00 Sep/18
Brazil 6121.36 Oct/18
Canada -416.30 Sep/18
China 340.16 Oct/18
Euro Area 13141.70 Sep/18
France -5663.00 Sep/18
Germany 18395.00 Sep/18
India -17130.00 Oct/18
Indonesia -1819.90 Oct/18
Italy 1274.37 Sep/18
Japan -449.26 Oct/18
Mexico -194.00 Sep/18
Netherlands 4949.00 Sep/18
Russia 18485.00 Sep/18
Saudi Arabia 162782.00 Jun/18
Singapore 4520.91 Oct/18
South Africa -2950.00 Sep/18
South Korea 6552.00 Oct/18
Spain -3057300.00 Aug/18
Switzerland 2637.00 Oct/18
Turkey -1869.47 Sep/18
United Kingdom -27.00 Sep/18
United States -54019.00 Sep/18


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