Canada Balance of Trade  1971-2016 | Data | Chart | Calendar | Forecast

Canada's merchandise trade gap was recorded at a CAD 1.1 billion in October of 2016, following an upwardly revised CAD 4.38 billion shortfall in the previous month while markets expected CAD 2 billion deficit. It is the lowest trade gap since January, as imports fell 6.3 percent while imports rose 0.5 percent. Balance of Trade in Canada averaged 1466.54 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 -4080.40 CAD Million in September of 2016.

Canada Balance of Trade
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Calendar GMT Reference Actual Previous Consensus Forecast (i)
2016-10-05 12:30 PM Aug C$-1.94B C$-2.19B C$-2.6B C$-2.5B
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$-1.13B -1.7B
2017-02-06 01:30 PM Dec C$-1.4B
2017-03-03 01:30 PM Jan -2B




Canadian Trade Deficit At 9-Month Low In October


Canada's merchandise trade gap was recorded at a CAD 1.1 billion in October of 2016, following an upwardly revised CAD 4.38 billion shortfall in the previous month while markets expected CAD 2 billion deficit. It is the lowest trade gap since January, as imports fell 6.3 percent while imports rose 0.5 percent.

Following a record high in September, total imports were down 6.3 percent to CAD 44.7 billion in October, the lowest level since February 2015. The large decline was mostly attributable to lower imports of industrial machinery, equipment and parts (-42 percent to CAD 4.0 billion) This decrease followed a high-value shipment from South Korea destined for the Hebron offshore oil project, which was responsible for the large increase in September. Also, imports fell for energy products (-11.6 percent to CAD 2.0 billion, the third consecutive monthly decrease) and metal ores and non-metallic minerals. Meanwhile, imports rose by 1.6 percent to CAD 5.3 billion for electronic and electrical equipment. Excluding the CAD 2.9 billion increase in imports of industrial machinery, equipment and parts, total imports would have decreased 0.3 percent, and the trade deficit would have narrowed from CAD 1.5 billion in September to CAD 1.1 billion in October. 

Imports from the United States edged down 0.1 percent to CAD 29.7 billion and from countries other than the United States fell 16.7 percent to CAD 15.0 billion. Lower imports from South Korea (-CAD 3.0 billion) were primarily responsible for the decrease, mainly reflecting the large shipment intended for the Hebron offshore oil project in September. There were also lower imports from Algeria and Saudi Arabia, while imports increased from China and Switzerland. 

Total exports rose 0.5 percent to CAD 43.6 billion. Higher sales of energy products (+5.5 percent to CAD 6.5 billion, the eighth consecutive monthly increase) and motor vehicles and parts (+3.2 percent to CAD 8 billion) were partially offset by lower exports of consumer goods (-3.2 percent to CAD 6 billion) and aircraft and other transportation equipment and parts (-4.5 percent to CAD 1.9 billion). Exports excluding energy products were down 0.3 percent. 

Exports to the United States increased 1.6 percent to  CAD 32.8 billion, led by crude oil and crude bitumen. Sales to countries other than the United States decreased 2.7 percent to CAD 10.8 billion. Sales to the United Kingdom fell 469 million on fewer exports of precious metals. There were also lower exports to Brazil, while exports to Saudi Arabia and the Netherlands increased.

Year over year, total exports increased 1.3 percent while imports were down 1.3 percent. 

Statistics Canada | Yekaterina Guchshina | yekaterina@tradingeconomics.com
12/6/2016 2:30:29 PM



Canada Trade Last Previous Highest Lowest Unit
Balance of Trade -1130.00 -4375.00 8524.80 -4375.00 CAD Million [+]
Exports 43576.30 43354.20 45928.20 1366.00 CAD Million [+]
Imports 44706.30 47729.60 47729.60 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 89.40 89.60 110.30 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 3854.00 3652.00 3912.00 955.00 BBL/D/1K [+]
Terrorism Index 2.52 2.30 3.00 0.65 [+]
Tourist Arrivals 3078069.00 4020786.00 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 December of 2016.

Actual Previous Highest Lowest Dates Unit Frequency
-1130.00 -4375.00 8524.80 -4375.00 1971 - 2016 CAD Million Monthly



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