Canada posted a trade surplus of CAD 4.1 billion in July of 2022, narrowing from a downwardly revised surplus of CAD 4.9 billion in the previous month but surpassing expectations of a CAD 3.8 billion net positive balance. Exports fell by 2.8 percent to CAD 68.3 billion, the first monthly decrease in 2022, as lower energy prices prompted a decline in sales of energy products (-4.2 percent). Outbound shipments also fell sharply for consumer goods (-14.3 percent), pharmaceutical goods (-49.1 percent), and metal and non-metallic goods (-8.4 percent). Imports fell by a slower 1.8 percent to CAD 64.2 billion, amid a decrease in purchases of consumer goods (-4.2 percent), energy (-10.2 percent), and industrial equipment and parts (-6 percent). On the other hand, imports of motor vehicles and parts surged 8.4 percent. source: Statistics Canada

Balance of Trade in Canada averaged 1172.44 CAD Million from 1971 until 2022, reaching an all time high of 8524.80 CAD Million in January of 2001 and a record low of -5755 CAD Million in December of 2018. 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 September of 2022.

Balance of Trade in Canada is expected to be 3616.00 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 2127.00 CAD Million in 2023 and 1015.00 CAD Million in 2024, according to our econometric models.

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Canada Balance of Trade



Calendar GMT Actual Previous Consensus TEForecast
2022-08-04 12:30 PM Jun C$5.05B C$4.77B C$4.8B C$6B
2022-09-07 12:30 PM Jul C$4.05B C$4.88B C$3.8B C$4.7B
2022-10-05 12:30 PM Aug C$4.05B C$3.9B


Related Last Previous Unit Reference
Balance of Trade 4051.60 4881.40 CAD Million Jul 2022
Current Account 2690.00 2650.00 CAD Million Jun 2022
Current Account to GDP 0.10 -1.90 percent of GDP Dec 2021
Imports 64198.40 65345.20 CAD Million Jul 2022
Exports 68250.00 70226.60 CAD Million Jul 2022
External Debt 3239745.00 3213412.00 CAD Million Jun 2022
Terms of Trade 106.20 110.40 points Jul 2022
Foreign Direct Investment 24852.00 20113.00 CAD Million Jun 2022
Capital Flows -435.00 7058.00 CAD Million Jun 2022
Oil Exports 13385.90 13859.40 CAD Million Jul 2022
Tourist Arrivals 761360.00 560300.00 Dec 2021

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 2018, the largest trade deficits were recorded with China, Germany and Mexico, while the biggest trade surpluses were recorded with the US, the UK and Norway.
Actual Previous Highest Lowest Dates Unit Frequency
4051.60 4881.40 8524.80 -5755.00 1971 - 2022 CAD Million Monthly

News Stream
Canada Trade Surplus Narrows in July
Canada posted a trade surplus of CAD 4.1 billion in July of 2022, narrowing from a downwardly revised surplus of CAD 4.9 billion in the previous month but surpassing expectations of a CAD 3.8 billion net positive balance. Exports fell by 2.8 percent to CAD 68.3 billion, the first monthly decrease in 2022, as lower energy prices prompted a decline in sales of energy products (-4.2 percent). Outbound shipments also fell sharply for consumer goods (-14.3 percent), pharmaceutical goods (-49.1 percent), and metal and non-metallic goods (-8.4 percent). Imports fell by a slower 1.8 percent to CAD 64.2 billion, amid a decrease in purchases of consumer goods (-4.2 percent), energy (-10.2 percent), and industrial equipment and parts (-6 percent). On the other hand, imports of motor vehicles and parts surged 8.4 percent.
2022-09-07
Canada Runs Largest Trade Surplus in 14 Years
Canada's trade surplus widened to CAD 5.0 billion in June of 2022, from a downwardly revised 4.8 billion in the prior month and well above market expectations of CAD 4.8 billion. It was the largest monthly trade surplus since August of 2008, as exports rose 2.0 percent from a month earlier to a record high of CAD 69.9 billion, primarily driven by higher sales of energy and metals and non-metallic mineral products. Meanwhile, imports rose 1.7 percent to CAD 64.9 billion, mainly on refined petroleum products and aircraft.
2022-08-04
Canada Posts Largest Trade Surplus since 2008
Canada's trade surplus broadened to CAD 5.3 billion in May of 2022, from an upwardly revised 2.2 billion in the prior month and well above market expectations of CAD 2.4 billion. It was the largest monthly trade surplus since August of 2008, as exports rose 4.1% from a month earlier to a record high of CAD 68.4 billion, largely driven by high prices of energy products (5.7%). Meanwhile, imports decreased 0.7% to CAD 63.1 billion, the first decrease in four months amid lower purchases of consumer goods (-4.7%), of which clothing, footwear and accessories, and pharmaceutical products.
2022-07-07