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

The trade deficit in Canada widened to CAD 2.77 billion in May of 2018 from a CAD 1.86 billion in April and above market expectations of a CAD 2.05 billion. Imports rose 1.7 percent, mainly due to purchases of aircraft, while exports edged down 0.1 percent. Balance of Trade in Canada averaged 1344.34 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
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Canada Trade Gap Larger than Expected

The Canadian trade deficit widened to CAD 2.77 billion in May of 2018 from CAD 1.86 billion in April and above market expectations of a CAD 2.05 billion. Imports rose 1.7 percent, mainly due to higher purchases of aircraft, while exports edged down 0.1 percent.

Exports from Canada edged down 0.1 percent to CAD 48.3 billion. Shipments of motor vehicles and parts fell 3.6 percent to CAD 7.3 billion in May, due to passenger cars and light trucks (-4.9 percent). Additionally, exports of metal ores and non-metallic minerals (-14.6 percent) drop to its lowest since September of 2016 of CAD 1.3 billion. On the other hand, sales increased for aircraft and other transportation equipment and parts (7.8 percent), mainly due to shipments of other transportation equipment to Saudi Arabia; and forestry products and building and packaging materials (3.1 percent), boosted by higher exports to the United States of lumber, sawmill products and prefabricated finished carpentry (9.8 percent).

Exports to the United States went down 0.2 percent to CAD 35.9 billion and exports to other than the US increased 0.2 percent, particularly to Saudi Arabia and Hong Kong. Meanwhile, shipments decreased to France and Netherlands.

Imports rose 1.7 percent from the previous month to CAD 51.1 billion. Purchases of aircraft and other transportation equipment increased 17.7 percent for the fifth consecutive month to CAD 2.4 billion. Also, imports for refined petroleum energy products advanced 13.9 percent to CAD 1.6 billion, due to a temporarily shut down of the Canadian refineries. On the other hand, arrivals decreased for ships, locomotives, railway rolling stock and rapid transit equipment (-76.6%). Year over year, total imports were up 3.5 percent.

Imports from the United States went up 1 percent in May to CAD 32.6 billion and to other countries than the US rose 2 percent, namely from China, Belgium and Germany; while those from Mexico decreased.

Statistics Canada | Agna Gabriel |
7/6/2018 1:43:55 PM

Calendar GMT Actual Previous Consensus TEForecast
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$-2.77B C$-1.86B C$-2.05B C$ -2B
2018-08-03 12:30 PM Balance of Trade C$-2.77B C$ -2.9B
2018-09-05 12:30 PM Balance of Trade C$ -2.8B
2018-10-05 12:30 PM Balance of Trade C$ -2.8B

Canada Trade Last Previous Highest Lowest Unit
Balance of Trade -2771.20 -1864.20 8524.80 -4127.40 CAD Million [+]
Exports 48344.20 48396.80 48396.80 1366.00 CAD Million [+]
Imports 51115.40 50261.00 51734.80 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 93.10 93.50 110.30 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 3980.00 3981.00 4287.00 955.00 BBL/D/1K [+]
Terrorism Index 2.96 2.52 3.00 0.65 [+]
Tourist Arrivals 1883642.00 1879690.00 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 July of 2018.

Actual Previous Highest Lowest Dates Unit Frequency
-2771.20 -1864.20 8524.80 -4127.40 1971 - 2018 CAD Million Monthly

balance of trade by Country
Country Last
Australia 827.00 May/18
Brazil 5881.58 Jun/18
Canada -2771.20 May/18
China 416.13 Jun/18
Euro Area 16704.70 Apr/18
France -6005.00 May/18
Germany 19669.00 May/18
India -16600.00 Jun/18
Indonesia -1523.60 May/18
Italy 2937.96 Apr/18
Japan -578.32 May/18
Mexico -1587.00 May/18
Netherlands 5030.00 May/18
Russia 15151.00 May/18
South Korea 6331.21 Jun/18
Spain -3050045.00 Apr/18
Switzerland 2255.00 May/18
Turkey -7759.34 May/18
United Kingdom -2790.00 May/18
United States -43053.00 May/18