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.