Canada Balance of Trade  1971-2017 | Data | Chart | Calendar | Forecast

Canada's merchandise trade balance posted a surplus of CAD 0.53 billion in November of 2016, following a downwardly revised CAD 1.02 billion shortfall in the previous month and beating market expectations of a CAD 1.6 billion deficit. It was the first trade surplus since September 2014, as exports rose 4.3 percent while imports increased 0.7 percent. Balance of Trade in Canada averaged 1452.84 CAD Million from 1971 until 2016, reaching an all time high of 8524.80 CAD Million in January of 2001 and a record low of -4246.40 CAD Million in September of 2016.

Canada Balance of Trade
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Calendar GMT Reference Actual Previous Consensus Forecast (i)
2016-11-04 12:30 PM Sep C$-4.08B C$-1.99B C$-1.7B C$-3.7B
2016-12-06 01:30 PM Oct C$-1.13B C$-4.38B C$-2.0B C$-3B
2017-01-06 01:30 PM Nov C$0.53B C$-1.02B C$-1.6B C$-1.5B
2017-02-07 01:30 PM Dec C$0.53B C$-1.4B
2017-03-07 01:30 PM Jan
2017-04-04 12:30 PM Feb




Canada Posts First Trade Surplus Since September 2014


Canada's trade balance posted a surplus of CAD 0.53 billion in November of 2016, following a downwardly revised CAD 1.02 billion shortfall in the previous month and beating market expectations of a CAD 1.6 billion deficit. It was the first trade surplus since September 2014, as exports rose 4.3 percent, boosted by sales of metal and non-metallic mineral products. Imports increased 0.7 percent.

Exports increased to  CAD 45.6 billion in November, the highest level since the record CAD 45.7 billion in January 2016. Export volumes rose 3.5 percent and prices were up 0.8 percent. Overall, 10 of 11 sections increased. In November, exports excluding energy products were up 4.7 percent. 

Exports of metal and non-metallic mineral products increased 10.6 percent to CAD 5.3 billion in November, the highest value since December 2014. Exports of unwrought precious metals and precious metal alloys led the gain, up 24.3 percent to CAD 1.9 billion on larger shipments to Hong Kong and Switzerland. For the section as a whole, volumes rose 6.2 percent and prices 4.1 percent.

Exports of metal ores and non-metallic minerals rose 26.4 percent to CAD 1.7 billion in November, with widespread increases throughout the section. Exports of potash increased 38.3 percent to CAD 431 million on higher volumes. Exports of iron ores and concentrates also contributed to the gain, up 43 percent to CAD 396 million, as prices rose 25.7 percent. Overall, volumes increased 15 percent and prices were up 9.9 percent.

Exports to countries other than the United States rose 9.5 percent to a record CAD 12.0 billion in November, surpassing the previous record set in December 2011. This was also the largest monthly percentage increase since May 2008. Exports to China were up 11.1 percent to CAD 2.0 billion in November, mostly on higher exports of coal. Exports to South Korea, Brazil and Japan also increased in November.

Total imports were up to CAD 45.1 billion in November, with 7 of 11 sections recording gains. Prices increased 1 percent, while volumes were down 0.3 percent. Higher imports of energy products and consumer goods were mostly offset by lower imports of aircraft and other transportation equipment and parts, and motor vehicles and parts. Year over year, total imports declined 0.8 percent.

Imports from countries other than the United States were up 3.5 percent to CAD 15.6 billion in November. This increase was largely led by higher imports of crude oil from Norway, Algeria and Saudi Arabia. Lower imports from China partially offset these gains. Consequently, Canada's trade deficit with countries other than the United States narrowed from CAD 4.2 billion in October to CAD 3.7 billion in November, the smallest deficit since November 2014.

Exports to the United States also rose in November, up 2.5 percent to CAD 33.7 billion, while imports from the United States were down 0.7 percent to CAD 29.5 billion. Consequently, Canada's trade surplus with the United States widened from CAD 3.2 billion in October to CAD 4.2 billion in November, the largest surplus since June 2015.

Statistics Canada | Joana Taborda | joana.taborda@tradingeconomics.com
1/6/2017 2:09:43 PM



Canada Trade Last Previous Highest Lowest Unit
Balance of Trade 526.40 -1024.10 8524.80 -4246.40 CAD Million [+]
Exports 45614.40 43736.80 45661.80 1366.00 CAD Million [+]
Imports 45087.90 44760.90 47710.40 1112.00 CAD Million [+]
Current Account -18299.00 -19017.00 12230.00 -20197.00 CAD Million [+]
Current Account to GDP -3.30 -2.30 2.70 -4.20 percent [+]
External Debt 615.99 612.33 615.99 14.82 CAD Billion [+]
Terms of Trade 89.10 89.80 110.30 81.20 Index Points [+]
Foreign Direct Investment 7030.00 12937.00 50326.00 -8640.00 CAD Million [+]
Capital Flows -40.00 0.00 4632.00 -672.00 CAD Million [+]
Gold Reserves 0.00 0.00 46.19 0.00 Tonnes [+]
Crude Oil Production 3837.00 3854.00 3912.00 955.00 BBL/D/1K [+]
Terrorism Index 2.52 2.30 3.00 0.65 [+]
Tourist Arrivals 2273851.00 3078069.00 7006165.00 1138895.00 [+]
Weapons Sales 312.00 254.00 469.00 38.00 USD Million [+]



Canada Balance of Trade Notes

Between 1970 and 2008 Canada had been recording trade surpluses every year but from 2009 trade balance shifted to deficit as imports value increased more than exports. The United States is by far its largest trading partner, accounting for about 75% of exports and 66% of imports as of 2015. 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 January of 2017.

Actual Previous Highest Lowest Dates Unit Frequency
526.40 -1024.10 8524.80 -4246.40 1971 - 2016 CAD Million Monthly



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