Canada’s trade surplus surged to CAD 3.13 billion in November of 2021 from an upwardly revised surplus of CAD 2.26 billion, surpassing market estimates of a CAD 2.03 billion surplus. It was the largest trade surplus since 2008, as exports jumped 3.8 percent to a new record of CAD 58.6 billion, boosted pharmaceutical products as the country received large shipments of Covid-19 medication and vaccines for packaging and labelling, only to be subsequently exported in the same month. Notable increases in sales also took place for industrial chemical, plastic, and rubber products and energy products. Meanwhile, imports rose at a softer 2.4% to a record CAD 55.4 billion, also due to the high influx of pharmaceutical products, while purchases of metal and non-metallic minerals rebounded significantly. source: Statistics Canada

Balance of Trade in Canada averaged 1172.54 CAD Million from 1971 until 2021, reaching an all time high of 8524.80 CAD Million in January of 2001 and a record low of -5575.10 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 January of 2022.

Balance of Trade in Canada is expected to be 1400.00 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 200.00 CAD Million in 2023, according to our econometric models.

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Canada Balance of Trade


Calendar GMT Actual Previous Consensus TEForecast
2021-12-07 01:30 PM Oct C$2.1B C$1.4B C$2B C$3B
2022-01-06 01:30 PM Nov C$3.13B C$2.26B C$2.03B C$1.8B
2022-02-08 01:30 PM Dec C$3.13B C$ 1.5B


Related Last Previous Unit Reference
Balance of Trade 3130.00 2260.00 CAD Million Nov/21
Current Account 1369.00 1368.00 CAD Million Sep/21
Current Account to GDP -1.90 -2.10 percent of GDP Dec/20
Imports 55440.00 54160.00 CAD Million Nov/21
Exports 58570.00 56420.00 CAD Million Nov/21
External Debt 3251324.00 3074252.00 CAD Million Sep/21
Terms of Trade 100.60 99.80 points Nov/21
Foreign Direct Investment 18182.00 13881.00 CAD Million Sep/21
Capital Flows -3318.00 -19.00 CAD Million Sep/21
Oil Exports 10468.20 9753.50 CAD Million Nov/21
Tourist Arrivals 649352.00 671662.00 Oct/21

News Stream
Canada Posts Largest Trade Surplus in 13-Years
Canada’s trade surplus surged to CAD 3.13 billion in November of 2021, the largest since 2008, from an upwardly revised CAD 2.26 billion surplus and surpassing market estimates of a CAD 2.03 billion. Exports jumped 3.8 percent to a new record of CAD 58.6 billion, boosted by pharmaceutical products as the country received large shipments of Covid-19 medication and vaccines for packaging and labeling, only to be subsequently exported in the same month. Notable increases in sales also were reported for industrial chemical, plastic, and rubber products and energy products. Meanwhile, imports rose at a softer 2.4% to a record CAD 55.4 billion, also due to the high influx of pharmaceutical products, while purchases of metal and non-metallic minerals rebounded significantly.
2022-01-06
Canada Trade Surplus Beats Expectations
Canada’s trade surplus rose to CAD 2.09 billion in October of 2021 from a downwardly revised CAD 1.42 billion in the previous month and slightly higher than market estimates of a CAD 2.00 billion surplus. It was the second-largest trade surplus of 2021, as total exports jumped 6.4% to a new record high of CAD 56.2 billion, mainly boosted by higher crude oil prices and recovery in car sales as the impact of the semiconductor chip shortage in the auto industry was less severe. Gains were observed in 8 of the 11 product sections, with energy products (9.8%) and motor vehicles & parts (30.8%) accounting for 80% of total growth. Meanwhile, total imports climbed a softer 5.3% to an all-time high of CAD 54.1 billion, with gains in 7 of 11 product sections, mostly purchases of motor vehicles and parts (27.2%) and consumer goods (4.5%).
2021-12-07
Canada Trade Surplus Widens More than Expected
Canada’s trade surplus rose to CAD 1.86 billion in September of 2021 from a downwardly revised CAD 1.51 billion in the previous month and surpassing market expectations of a CAD 1.55 billion surplus as imports decreased faster than exports. Total exports were down by 2.3 percent to CAD 53 billion, driven by lower sales of motor vehicles and parts due to the shortage of semi-conductor chips. Meanwhile, total imports dropped by 3 percent to CAD 51.1 billion, also on lower purchases of motor vehicles and parts.
2021-11-04

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.