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. source: Statistics Canada

Balance of Trade in Canada averaged 1163.71 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 July of 2022.

Balance of Trade in Canada is expected to be 4063.00 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 6500.00 CAD Million in 2023 and 6200.00 CAD Million in 2024, according to our econometric models.

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Canada Balance of Trade



Calendar GMT Actual Previous Consensus TEForecast
2022-06-07 12:30 PM Apr C$1.5B C$2.28B C$2.9B C$2.8B
2022-07-07 12:30 PM May C$5.32B C$2.17B C$2.4B C$1.9B
2022-08-04 12:30 PM Jun C$5.32B C$ 3.6B


Related Last Previous Unit Reference
Balance of Trade 5324.10 2174.10 CAD Million May 2022
Current Account 5026.00 -137.00 CAD Million Mar 2022
Current Account to GDP 0.10 -1.90 percent of GDP Dec 2021
Exports 68436.20 65711.90 CAD Million May 2022
Imports 63112.10 63537.80 CAD Million May 2022
External Debt 3213412.00 3334890.00 CAD Million Mar 2022
Terms of Trade 109.30 108.10 points Apr 2022
Foreign Direct Investment 20113.00 19439.00 CAD Million Mar 2022
Capital Flows 7058.00 3488.00 CAD Million Mar 2022
Oil Exports 11447.60 13240.70 CAD Million Apr 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
5324.10 2174.10 8524.80 -5755.00 1971 - 2022 CAD Million Monthly

News Stream
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
Canada Trade Surplus Lower than Expected
Canada posted a trade surplus of CAD 1.5 billion in April of 2022, narrowing from a downwardly revised 2.3 billion surplus in the prior month and well below market expectations of a CAD 2.9 billion surplus. Imports rose by 1.9 percent to a record high of CAD 62.8 billion, carried by consumer goods (5.5 percent), mainly due to clothing, footwear, and accessories (24.2 percent) recovering from supply disruptions in March. Purchases also rose for metal and non-metallic mineral products (10.5 percent) amid higher silver imports from South Korea, and energy products (5 percent), as increased natural gas (57 percent) and refined petroleum products (52.6 percent) offset lower purchases of crude oil (-20.9 percent). Meanwhile, exports rose at a slower 0.6 percent to a record high CAD 64.3 billion, lifted by sales of consumer goods (5 percent) and motor vehicles and parts (3.9 percent), carried by passenger cars and light trucks (5.3 percent), while energy exports fell by 0.9 percent.
2022-06-07
Canada Trade Surplus Lower than Expected
Canada posted a trade surplus of CAD 2.49 billion in March of 2022, narrowing from an upwardly revised CAD 3.08 billion surplus in the prior month and well below market expectations of CAD 3.9 billion. Imports rose by 7.7 percent to a record high of CAD 61.1 billion, carried by purchases of energy products (26.3 percent), largely due to crude oil and bitumen (39.9 percent), as the war in Ukraine lifted energy prices worldwide. Imports also rose for consumer goods (6.5 percent), led by clothing, footwear, and accessories (15.9 percent), and motor vehicles and parts (9.9 percent). Exports rose by a softer 6.3 percent to also set a record-high of CAD 63.6 billion, led by sales of energy products (12.8 percent), with the main contribution from crude oil (14.8 percent) despite lower volumes. Outbound shipments also rose for motor vehicles (7.9 percent), led by passenger cars and light trucks (8.3 percent).
2022-05-04