Canadian Trade Balance Turns to a CAD 290 Million Surplus


Trade balance in Canada recorded a surplus of CAD 290 million in February of 2014, following a CAD 337 million deficit in January, as exports grew 3.6 percent and imports were up 2.1 percent. Motor vehicles and parts, and energy products improved exports, while imports increased for energy products.

Exports amounted to CAD 42.3 billion, mostly due to motor vehicles and energy products sales. The volume of exports increased 2.2 percent, while its prices rose by 1.4 percent.

Imports grew to CAD 42.1 billion, as prices increased 1.4 percent and volumes were up 0.6 percent. Higher purchases of energy products, motor vehicles and parts, as well as industrial machinery, equipment and parts were partially offset by lower imports of metal and non-metallic mineral products.

Exports to the United States rose 4.4 percent to CAD 32.4 billion on higher exports of motor vehicles and parts, and energy products. Imports from the United States increased 3.3 percent to CAD 28.1 billion on the strength of motor vehicles and parts. Consequently, Canada's trade surplus with the United States increased from CAD 3.9 billion in January to CAD 4.3 billion in February.

Sales to countries other than the United States were up 1.1 percent to CAD 9.9 billion. Increases in exports to the European Union (+6.8 percent) and Japan (+12.0 percent) were partially offset by declines to the principal trading area "all other countries" (-3.8 percent). Imports from countries other than the United States edged down 0.2 percent to CAD 14.0 billion. As a result, Canada's trade deficit with countries other than the United States narrowed from CAD 4.2 billion in January to CAD 4.0 billion in February.

Canadian Trade Balance Turns to a CAD 290 Million Surplus


Statistics Canada | Isabel Felino | isabel.felino@tradingeconomics.com
4/3/2014 2:04:38 PM