Canada Balance of Trade 1971-2015 | Data | Chart | Calendar | Forecast

Canada recorded a trade deficit of 3019 CAD Million in March of 2015. Balance of Trade in Canada averaged 1592.85 CAD Million from 1971 until 2015, reaching an all time high of 8524.80 CAD Million in January of 2001 and a record low of -3019 CAD Million in March of 2015. Balance of Trade in Canada is reported by the Statistics Canada.

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Canada Balance of Trade
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Actual Previous Highest Lowest Dates Unit Frequency
-3019.00 -2215.00 8524.80 -3019.00 1971 - 2015 CAD Million Monthly
International trade makes up a large part of the Canadian economy. Exports amount to more than 45% of its GDP. The United States is by far its largest trading partner, accounting for about 79% of exports and 54% of imports as of 2008. Canada is one of the few developed nations that are a net exporter of energy. Canada imports mostly machinery and equipment, motor vehicles and parts, electronics, chemicals, electricity and durable consumer goods. This page provides - Canada Balance of Trade - actual values, historical data, forecast, chart, statistics, economic calendar and news. Content for - Canada Balance of Trade - was last refreshed on Saturday, May 23, 2015.

Calendar GMT Reference Actual Previous Consensus Forecast (i)
2015-03-06 01:30 PM Jan CAD-2.45B CAD-1.22B (R) CAD-1B CAD 0.1B
2015-04-02 01:30 PM Feb CAD -0.98B CAD-1.48B (R) CAD -2B CAD -1.6B
2015-05-05 01:30 PM Mar CAD -3.02B CAD -2.22B (R) CAD -0.8B CAD 0.1B
2015-06-03 01:30 PM Apr CAD -3.02B CAD 0B
2015-07-03 01:30 PM May CAD -0.1B
2015-08-06 01:30 PM Jun CAD -0.1B


Canada Trade Deficit Widens to Record High in March


Canada's merchandise trade deficit grew to CAD 3.02 billion in March from a revised CAD 2.22 billion deficit in February, as exports were up 0.4 percent and imports grew at a faster pace by 2.2 percent.

Exports edged up to $42.5 billion in March. An increase in exports of motor vehicles and parts was mostly offset by a decline in energy products. Excluding energy products, exports increased 2.4% in March. Total exports declined 3.0% in the first quarter of 2015 from the fourth quarter of 2014. However, quarterly exports were up 0.6% in real (or volume) terms.

Exports of motor vehicles and parts increased 11.7% to $6.6 billion, as volumes rose 10.6%. Higher exports of passenger cars and light trucks, up 18.1% to $4.4 billion, were by far the largest contributor to the increase in the section.

Exports of energy products declined 8.9% to $6.9 billion. There were widespread decreases in exports among the commodity groupings in the section, led by refined petroleum energy products, down 29.7% to $855 million. Exports of natural gas (-16.2%) and crude oil and crude bitumen (-2.7%) also declined. For the section as a whole, prices fell 7.0% and volumes 2.1%.

Exports to countries other than the United States rose 4.2% to $11.1 billion. There were higher exports to Japan (+$210 million) and Switzerland (+$108 million). Exports to the United States declined 0.9% to $31.4 billion.

Imports rose to $45.5 billion in March, as 7 of 11 sections increased. Imports increased 0.6% in the first quarter of 2015 from the fourth quarter of 2014. However, quarterly imports were down 0.2% in real (or volume) terms.

Imports of consumer goods were up 7.9% to $10.0 billion in March, the fourth consecutive monthly increase. The increase in March was widespread throughout the section, as 16 of its 20 commodity groupings advanced. The main contributors were clothing, footwear and accessories (+21.1%) and miscellaneous goods and supplies (+6.9%). Overall, volumes were up 6.7% and prices 1.1%.

Imports of motor vehicles and parts increased 3.7% to $7.9 billion. All commodity groupings within this section rose. Passenger cars and light trucks led the increase, up 5.7% to $3.4 billion. For the section as a whole, volumes rose 3.9%.

Meanwhile, aircraft and other transportation equipment and parts declined 8.4% to $1.6 billion, following two consecutive monthly increases. Lower imports of aircraft were the main contributor, down 36.0% to $374 million.

Imports from countries other than the United States increased 10.0% to $16.3 billion in March, on higher imports from China (+$902 million). Imports from the United States fell 1.7% to $29.3 billion.

As a result, Canada's trade deficit with countries other than the United States widened from $4.2 billion in February to $5.2 billion in March. Canada's trade surplus with the United States widened from $1.9 billion in February to $2.2 billion in March.

Statistics Canada | Joana Ferreira | joana.ferreira@tradingeconomics.com
5/5/2015 1:51:56 PM


Recent Releases

Canada Trade Deficit Narrows in February
Canada's merchandise trade deficit shrank to CAD 984 million in February from a revised CAD 1.5 billion in January, as exports were up 0.4 percent and imports declined 0.7 percent. Published on 2015-04-02

Canada's Trade Deficit Largest Since July 2012
Canada's trade gap widened to $2.5 billion in January from $1.2 billion in December as exports declined 2.8 percent while imports were largely unchanged. Published on 2015-03-06


Canada Trade Last Previous Highest Lowest Unit
Balance of Trade -3019.00 -2215.00 8524.80 -3019.00 CAD Million [+]
Exports 42497.00 42333.00 45537.80 1366.00 CAD Million [+]
Imports 45516.00 44547.00 45516.00 1112.00 CAD Million [+]
Current Account -13917.00 -9600.00 12223.00 -19565.00 CAD Million [+]
Current Account to GDP -3.20 -3.40 2.70 -4.20 percent [+]
External Debt 611.88 609.39 611.88 14.82 CAD Billion [+]
Terms of Trade 92.50 94.30 110.30 81.20 Index Points [+]
Foreign Direct Investment 17690.00 16293.00 50740.00 -8173.00 CAD Million [+]
Capital Flows -14.00 -4.00 19.00 -672.00 CAD Million [+]
Gold Reserves 2.99 2.99 46.19 2.99 Tonnes [+]
Crude Oil Production 3678.00 3704.00 3717.00 955.00 BBL/D/1K [+]
Tourist Arrivals 1253956.00 1260127.00 7006165.00 1138895.00 [+]


Balance of Trade Reference Previous Highest Lowest Unit
Australia -1322.00 Mar/15 -1609.00 2254.00 -3877.00 AUD Million [+]
Brazil 491.00 Apr/15 458.00 5659.37 -4058.14 USD Million [+]
Canada -3019.00 Mar/15 -2215.00 8524.80 -3019.00 CAD Million [+]
China 341.34 Apr/15 30.81 606.19 -319.71 USD Hundred Million [+]
Euro Area 23400.00 Mar/15 20300.00 24009.80 -16638.00 EUR Million [+]
France -4575.00 Mar/15 -3623.00 2674.00 -7086.00 EUR Million [+]
Germany 23000.00 Mar/15 19515.32 23500.00 -535.91 EUR Million [+]
India -10990.00 Apr/15 -11790.00 258.90 -20210.90 USD Million [+]
Indonesia 454.40 Apr/15 1025.60 4641.92 -2329.13 USD Million [+]
Italy 4060.39 Mar/15 3537.91 6923.00 -6389.30 EUR Million [+]
Japan 229.26 Mar/15 -425.00 1608.67 -2795.04 JPY Billion [+]
Mexico 479.80 Mar/15 558.30 1710.25 -3292.30 USD Million [+]
Netherlands 5401.00 Mar/15 6329.20 6329.20 -907.60 EUR Million [+]
Russia 14981.00 Mar/15 13597.00 20356.00 -185.00 USD Million [+]
South Korea 8488.00 Apr/15 8380.51 8488.00 -4043.45 USD Million [+]
Spain -890600.00 Mar/15 -2037200.00 634935.00 -9834766.00 EUR Thousand [+]
Switzerland 2525.00 Mar/15 2316.16 3894.91 -1478.68 CHF million [+]
Turkey -6153.67 Mar/15 -4655.64 24.51 -10453.06 USD Million [+]
United Kingdom -2817.00 Mar/15 -3318.00 2946.00 -5397.00 GBP Million [+]
United States -51367.00 Mar/15 -35892.00 1946.00 -67823.00 USD Million [+]