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.