Canada Balance of Trade  1971-2017 | Data | Chart | Calendar | Forecast

Canada's trade deficit narrowed to $370 million in April, from a revised $936 million gap in March. Exports rose 1.8% to $47.7 billion, led by higher exports of passenger cars and light trucks. Imports were up 0.6% to $48.1 billion, on the strength of import prices. Balance of Trade in Canada averaged 1437.57 CAD Million from 1971 until 2017, reaching an all time high of 8524.80 CAD Million in January of 2001 and a record low of -4256.70 CAD Million in September of 2016.

Canada Balance of Trade
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Calendar GMT Actual Previous Consensus Forecast (i)
2017-04-04 12:30 PM Feb C$-0.97B C$0.42B C$0.5B C$0.7B
2017-05-04 12:30 PM Mar C$-0.14B C$-1.08B C$-0.85B C$1B
2017-06-02 12:30 PM Apr C$-0.37B C$-0.94B C$-0.07B C$-0.3B
2017-07-06 12:30 PM May C$-0.37B
2017-08-04 12:30 PM Jun
2017-09-06 12:30 PM Jul




Canada's Trade Deficit Narrows in April


Canada's trade deficit narrowed to a $370 million in April, from a revised $936 million gap in March. Exports rose 1.8% to a record high of $47.7 billion, led by higher exports of passenger cars and light trucks. Imports were up 0.6% to $48.1 billion, also reaching record high on the strength of import prices.

Following a 3.2% increase in March, total exports rose 1.8% to a record high $47.7 billion in April, with advances in 8 of 11 sections. Volumes were up 1.1% and prices increased 0.7%. Motor vehicles and parts, energy products, and forestry products and building packaging materials drove the gain in exports for the month. Exports excluding energy products rose 1.7%. Year over year, total exports increased 14.7%.

Exports of motor vehicles and parts were up 4.4% in April to $8.1 billion. Passenger cars and light trucks led the increase, up 5.4% to $5.6 billion. 

Also contributing to the overall increase were higher exports of energy products, up 2.5% in April to $8.8 billion. Exports of natural gas led the increase, rising 18.5% to $1.1 billion, mostly on higher prices. Other energy products (+13.9%) also increased, mainly on higher exports of coal to the Netherlands. 

Exports of forestry products and building and packaging materials rose 4.7% in April to $3.7 billion. Following a 6.4% increase in March, lumber and other sawmill and millwork products rose 8.0% in April to $1.5 billion. Volumes for this group rose 4.3% and prices were up 3.6%. There were higher exports of softwood lumber to the United States in April. This increase preceded the decision by the US Department of Commerce to impose countervailing duties on imports of Canadian softwood lumber into the US, effective April 28.

Total imports rose 0.6% to a record high $48.1 billion in April, a fifth consecutive monthly increase, with gains in 7 of 11 sections. Prices increased 1.0%, while volumes were down 0.3%. Year over year, total imports were up 7.4%.

Higher imports of consumer goods, electronic and electrical equipment and parts, and basic and industrial chemical, plastic and rubber products were responsible for the increase in April.

Meanwhile, imports of aircraft and other transportation equipment and parts were down 24.6% in April to $1.3 billion. Fewer imports of aircrafts from the United States and ships from the Netherlands and Poland led the decrease.

Imports of energy products (-14.0%) also decreased in April, to $2.3 billion, mainly on lower volumes. Crude oil and crude bitumen were responsible for the decline, down 22.9% to $1.3 billion, mainly on lower imports from Nigeria and Saudi Arabia.

Exports to the United States rose 5.4% to a record high $36.1 billion in April, mostly on passenger cars, natural gas and softwood lumber. Imports from the United States were up 1.1% to $31.1 billion.

As a result, Canada's trade surplus with the United States widened from $3.4 billion in March to $5.0 billion in April, the largest surplus since May 2014. The Canadian dollar fell 0.3 cents US relative to the American dollar in April.

Exports to countries other than the United States declined 7.8% in April to $11.6 billion, partially offsetting the gain in exports to the United States. Lower exports to the United Kingdom (unwrought nickel and gold), China (unwrought gold), Spain (crude oil and iron ores) and Switzerland (unwrought gold) contributed most to the decline.

Imports from countries other than the United States edged down 0.2%, as widespread declines were partially offset by higher imports from Norway (crude oil and energy transmission cables) and Turkey (crude oil).

As a result, Canada's trade deficit with countries other than the United States widened from $4.4 billion in March to $5.3 billion in April.

Anna | anna@tradingeconomics.com
6/2/2017 12:49:16 PM



Canada Trade Last Previous Highest Lowest Unit
Balance of Trade -370.30 -935.80 8524.80 -4256.70 CAD Million [+]
Exports 47688.90 46824.80 47688.90 1366.00 CAD Million [+]
Imports 48059.20 47760.60 48059.20 1112.00 CAD Million [+]
Current Account -14053.00 -11784.00 12230.00 -20197.00 CAD Million [+]
Current Account to GDP -3.30 -2.30 2.70 -4.20 percent [+]
External Debt 615.99 612.33 615.99 14.82 CAD Billion [+]
Terms of Trade 90.50 91.20 110.30 81.20 Index Points [+]
Foreign Direct Investment 8678.00 11537.00 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 3840.00 4107.00 4107.00 955.00 BBL/D/1K [+]
Weapons Sales 127.00 357.00 469.00 38.00 USD Million [+]
Terrorism Index 2.52 2.30 3.00 0.65 [+]
Tourist Arrivals 2054513.00 1670640.00 7006165.00 1138895.00 [+]

Exports by Country  |   Exports by Category  |   Imports by Country  |   Imports by Category



Canada Balance of Trade Notes

Between 1970 and 2008 Canada had been recording trade surpluses every year but from 2009 trade balance shifted to deficit as imports value increased more than exports. In 2016, the largest trade deficits were recorded with China, Germany and Mexico, 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 2017.

Actual Previous Highest Lowest Dates Unit Frequency
-370.30 -935.80 8524.80 -4256.70 1971 - 2017 CAD Million Monthly



balance of trade by Country

Last
Australia 555.00 Apr/17
Brazil 7661.00 May/17
Canada -370.30 Apr/17
China 407.90 May/17
Euro Area 17858.90 Apr/17
France -5535.00 Apr/17
Germany 18078.00 Apr/17
India -13841.70 May/17
Indonesia 474.00 May/17
Italy 3601.32 Apr/17
Japan -203.37 May/17
Mexico 616.79 Apr/17
Netherlands 3833.00 Apr/17
Russia 8001.00 Apr/17
South Korea 5990.00 May/17
Spain -1198829.00 Apr/17
Switzerland 3400.03 May/17
Turkey -4945.41 Apr/17
United Kingdom -2050.00 Apr/17
United States -47617.00 Apr/17