Canada’s trade surplus rose to CAD 1.94 billion in August of 2021 from a downwardly revised CAD 0.74 billion in the previous month and beating market estimates of a CAD 0.43 billion surplus. Total exports increased 0.8% in August to a new record high of CAD 54.4 billion, with gains observed in 6 of the 11 product sections, notably energy products (5.1%). Meanwhile, total imports were down 1.4% to CAD 52.5 billion, despite gains in a majority of product sections, led by lower purchases of motor vehicles and parts (-11.1%) and aircraft and other transportation equipment and parts (-28.8%). source: Statistics Canada

Balance of Trade in Canada averaged 1168.52 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 October of 2021.

Balance of Trade in Canada is expected to be 1500.00 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 2022, according to our econometric models.

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Canada Balance of Trade


Calendar GMT Actual Previous Consensus TEForecast
2021-07-02 12:30 PM May C$-1.39B C$0.46B C$0.37B C$-0.3B
2021-08-05 12:30 PM Jun C$3.23B C$-1.58B C$-0.68B C$ -0.7B
2021-09-02 12:30 PM Jul C$0.78B C$2.56B C$1.4B C$2.5B
2021-10-05 12:30 PM Aug C$1.94B C$0.74B C$0.43B C$0.6B
2021-11-04 01:30 PM Sep C$1.94B C$ 2.1B
2021-12-07 01:30 PM Oct


News Stream
Canada Trade Surplus Unexpectedly Widens
Canada’s trade surplus rose to CAD 1.94 billion in August of 2021 from a downwardly revised CAD 0.74 billion in the previous month and beating market estimates of a CAD 0.43 billion surplus. Total exports increased 0.8% in August to a new record high of CAD 54.4 billion, with gains observed in 6 of the 11 product sections, notably energy products (5.1%). Meanwhile, total imports were down 1.4% to CAD 52.5 billion, despite gains in a majority of product sections, led by lower purchases of motor vehicles and parts (-11.1%) and aircraft and other transportation equipment and parts (-28.8%).
2021-10-05
Canada Trade Surplus Shrinks More than Expected
Canada posted a trade surplus of CAD 0.78 billion in July of 2021, compared to a downwardly revised surplus of CAD 2.56 billion in the prior month and missed market expectations of a CAD 1.40 billion surplus. Total exports rose 0.6% to a fresh record of CAD 53.7 billion, underpinned by motor vehicles and parts (+6.4%) and energy products (+1.9%), which received support from higher prices. However, gains were almost offset by a sharp decline in forestry products & building and packaging materials (-12.7%), mainly lumber and other sawmill products (-23.6%), due to lower prices. Meanwhile, imports rose a faster 4.2% to CAD 53.0 billion, with gains observed in 9 of the 11 product sections, notably in motor vehicles and parts (+21.1%), which contributed with more than 2/3 of July’s import growth and electronic equipment and parts (+8.5%).
2021-09-02
Canada Unexpectedly Reports Trade Surplus
Canada posted a trade surplus of CAD 3.23 billion in June of 2021, compared to an upwardly revised deficit of CAD 1.58 billion in the prior month and against market expectations of a CAD 0.68 billion gap. It was the widest trade surplus since September of 2008. Total exports rose 8.7% to a record CAD 53.8 billion in June, with increases seen in 9 of 11 product sections, driven mostly by sales of energy products (+22.9%), followed by motor vehicles and parts (14.9%) and metal and non-metallic mineral products (12.7%). Meanwhile, imports fell 1.0% to CAD 50.5 billion, with decreases observed in 7 of the 11 product sections, in particular consumer goods (-3.7%) and motor vehicles and parts (-3.8%).
2021-08-05
Canada Unexpectedly Posts Trade Deficit in May
Canada posted a trade deficit of CAD 1.39 billion in May of 2021 following a downwardly revised surplus of CAD 0.46 billion in the prior month and against market expectations of a CAD 0.37 billion surplus. Total imports went up 2.1% month-over-month to CAD 50.9 billion, with increases seen in 7 of 11 product sections, driven mostly by purchases of metal & non-metallic minerals (+17.7% to a record CAD 5.3 billion); followed by miscellaneous goods & supplies (+15.1%), and pharmaceutical & medical products (+8.2%). Total exports dropped 1.6% to CAD 49.5 billion, with losses observed across 8 of 11 product sections, significantly weighed down by consumer goods (-8.8%), amid plummeting shipments of prepared & packaged seafood products (-46.5%), as the snow crab fishing season opened earlier and exports began in April rather than May. Major negative contributions also came from sales of motor vehicles & parts (-5.8%), although the current semiconductor chip shortage had a less severe impact.
2021-07-02

Canada Last Unit Reference Previous Highest Lowest
Balance of Trade 1938.60 CAD Million Aug/21 735.80 8524.80 -5575.10
Current Account 3581.00 CAD Million Jun/21 1815.00 12492.00 -20035.00
Current Account to GDP -1.90 percent of GDP Dec/20 -2.10 2.70 -4.20
Imports 52505.90 CAD Million Aug/21 53277.40 53277.40 1112.00
Exports 54444.50 CAD Million Aug/21 54013.20 54444.50 1366.00
External Debt 3074252.00 CAD Million Jun/21 3036227.00 3149005.00 354800.00
Terms of Trade 98.00 points Aug/21 100.40 112.30 76.30
Capital Flows 1905.00 CAD Million Jun/21 2891.00 12857.00 -20501.00
Foreign Direct Investment 12017.00 CAD Million Jun/21 21386.00 50326.00 -8640.00
Oil Exports 8424.40 CAD Million Aug/21 7790.90 8592.90 295.30
Tourist Arrivals 258469.00 Jul/21 162940.00 7006165.00 67654.00


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.