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

Canada's merchandise trade deficit narrowed to CAD 1.9 billion in April of 2018 from a downwardly revised CAD 3.9 billion in March and well below market expectations of a CAD 3.4 billion gap. Exports increased 1.6 percent, boosted by higher sales of metal and non-metallic mineral products, consumer goods and energy products. Meantime, imports declined 2.5 percent, after reaching a record high in March, mainly due to lower purchases of motor vehicles and parts and consumer goods. Balance of Trade in Canada averaged 1351.45 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.

Canada Balance of Trade
width
height
Trading Economics members can view, download and compare data from nearly 200 countries, including more than 20 million economic indicators, exchange rates, government bond yields, stock indexes and commodity prices.

The Trading Economics Application Programming Interface (API) provides direct access to our data. It allows API clients to download millions of rows of historical data, to query our real-time economic calendar, subscribe to updates and receive quotes for currencies, commodities, stocks and bonds.




Canada Trade Deficit Narrows in April


Canada's merchandise trade deficit narrowed to CAD 1.9 billion in April of 2018 from a downwardly revised CAD 3.9 billion in March and well below market expectations of a CAD 3.4 billion gap. Exports increased 1.6 percent, boosted by higher sales of metal and non-metallic mineral products, consumer goods and energy products. Meantime, imports declined 2.5 percent, after reaching a record high in March, mainly due to lower purchases of motor vehicles and parts and consumer goods.

Total exports advanced 1.6 percent month-over-month to a record high CAD 48.6 billion in April. Sales went up mostly due to metal and non-metallic mineral products (+9.1 percent to CAD 5.8 billion), namely unwrought precious metals and precious metal alloys unwrought gold to Hong Kong. Also, exports of consumer goods increased 5.4 percent to CAD 6.2 billion and sales of pharmaceutical and medicinal products rose 33.3 percent, mostly  due to higher shipments to the United States. In addition, sales increased for other food (+8.3 percent), mainly higher exports of dried peas to Asia; energy products (+2.3 percent) due to crude oil and crude bitumen (+4.9 percent). 

Exports to the United States were up 3.2 percent, due to higher sales of crude oil and crude oil bitumen. Exports to countries other than the US decreased 3.0 percent, mostly on lower shipments to the UK (crude oil), Saudi Arabia (other transportation equipment), Japan (coal) and South Korea (aircraft and coal).

Imports dropped 2.5 percent to CAD 50.5 billion in April, after reaching a record high in March. The biggest contribution for the decline was given by motor vehicles and parts (-5.8 percent to CAD 9.7 billion), as passenger cars and light trucks fell 8.9 percent, returning to normal levels following higher light trucks import levels in March and motor vehicle engines and motor vehicle parts (-4.4 percent). Additionally, purchases decreased for consumer goods (-4.9 percent to CAD 10.5 billion), namely pharmaceutical and medicinal products mostly on lower imports from Switzerland, Belgium and the United States. On the other hand, imports picked up for energy (+8.5 percent to CAD 3.4 billion), mostly refined petroleum energy products (+28.5 percent to a record CAD 1.4 billion). Temporary shutdowns in Canadian refineries in April led to higher imports of motor gasoline and diesel fuel to meet domestic demand. 

Imports from the US edged down 1.4 percent, dragged by lower purchases of passenger cars and light trucks. Imports from countries other than the US went down 4.3 percent, mainly on lower imports from China (computers).


Statistics Canada | Stefanie Moya | stefanie.moya@tradingeconomics.com
6/6/2018 1:10:52 PM



Calendar GMT Actual Previous Consensus TEForecast
2018-04-05 12:30 PM Balance of Trade C$-2.69B C$-1.94B C$-2.1B C$ -2B
2018-05-03 12:30 PM Balance of Trade C$-4.14B C$-2.93B C$-2.24B C$ -2.1B
2018-06-06 12:30 PM Balance of Trade C$-1.9B C$-3.93B C$-3.4B C$ -2.1B
2018-07-06 12:30 PM Balance of Trade C$-1.9B C$ -50.5B
2018-08-03 12:30 PM Balance of Trade C$ -25.1B
2018-09-05 12:30 PM Balance of Trade C$ -51B


Canada Trade Last Previous Highest Lowest Unit
Balance of Trade -1902.20 -3932.80 8524.80 -4127.40 CAD Million [+]
Exports 48564.40 47819.60 48564.40 1366.00 CAD Million [+]
Imports 50466.60 51752.40 51752.40 1112.00 CAD Million [+]
Current Account -19496.00 -16486.00 12230.00 -20197.00 CAD Million [+]
Current Account to GDP -3.00 -3.30 2.70 -4.20 percent [+]
External Debt 631.90 615.99 631.90 14.82 CAD Billion [+]
Terms of Trade 93.50 93.30 110.30 81.20 Index Points [+]
Foreign Direct Investment 17792.00 8333.00 50326.00 -8640.00 CAD Million [+]
Capital Flows -51.00 0.00 4632.00 -672.00 CAD Million [+]
Gold Reserves 0.00 0.00 46.19 0.00 Tonnes [+]
Crude Oil Production 3981.00 3949.00 4249.00 955.00 BBL/D/1K [+]
Terrorism Index 2.96 2.52 3.00 0.65 [+]
Tourist Arrivals 1879690.00 1542507.00 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 June of 2018.

Actual Previous Highest Lowest Dates Unit Frequency
-1902.20 -3932.80 8524.80 -4127.40 1971 - 2018 CAD Million Monthly




balance of trade by Country
Country Last
Australia 977.00 Apr/18
Brazil 5981.00 May/18
Canada -1902.20 Apr/18
China 249.22 May/18
Euro Area 16704.70 Apr/18
France -4954.00 Apr/18
Germany 20413.00 Apr/18
India -14620.00 May/18
Indonesia -1629.30 Apr/18
Italy 2937.96 Apr/18
Japan -578.32 May/18
Mexico -289.15 Apr/18
Netherlands 3841.00 Apr/18
Russia 15316.00 Apr/18
South Korea 6732.00 May/18
Spain -830631.00 Mar/18
Switzerland 2798.79 Apr/18
Turkey -6690.00 Apr/18
United Kingdom -5280.00 Apr/18
United States -46199.00 Apr/18


Related

Latest