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

Canada recorded a trade deficit of 984 CAD Million in February of 2015. Balance of Trade in Canada averaged 1603.87 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 -2902.90 CAD Million in July of 2012. Balance of Trade in Canada is reported by the Statistics Canada.

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Canada Balance of Trade


Actual Previous Highest Lowest Dates Unit Frequency
-984.00 -1475.00 8524.80 -2902.90 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 Monday, April 27, 2015.


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.

Exports rose to $43.5 billion in February, as 5 of 11 sections increased. Year over year, exports were up 0.5%.

Exports of energy products rose 14.9% to $8.8 billion. There were widespread increases in the section, led by crude oil and crude bitumen (+9.3%), natural gas (+45.1%) and refined petroleum energy products (+22.2%). Overall, prices increased 17.5% while volumes were down 2.3%.

Offsetting this increase, exports of motor vehicles and parts declined 15.1% to $5.9 billion. Lower exports of passenger cars and light trucks were the main contributor, down 24.1% to $3.7 billion, the lowest value since January 2014.

Imports were down to $44.5 billion in February, as 7 of 11 sections declined. Year over year, imports increased 4.3%.

Imports of motor vehicles and parts declined 4.7% to $7.5 billion. Passenger cars and light trucks (-5.4%) and motor vehicle engines and motor vehicle parts (-5.5%) contributed to the overall decrease in the section.

After reaching a record high in January, imports of industrial machinery, equipment and parts were down 4.3% to $4.5 billion in February. Other industry-specific machinery (-18.2%) and other general-purpose machinery and equipment (-4.0%) were the main contributors to the decline in the section. Overall, volumes were down 7.4% while prices were up 3.3%.

Energy products decreased 7.0% to $2.5 billion, the third consecutive monthly decline. Imports of crude oil and crude bitumen fell 19.7% to $1.1 billion, on lower volumes. Since November 2014, imports of crude oil and crude bitumen have declined 44.9%, with prices falling 27.0% and volumes 24.6%.

Imports of basic and industrial chemical, plastic and rubber products decreased 4.6% to $3.6 billion. Overall, prices declined 3.1% and volumes 1.5%. There were widespread declines in the section, led by lubricants and other petroleum refinery products, down 17.1% to $462 million.

Meanwhile, imports of metal ores and non-metallic minerals increased 16.3% to $918 million in February. Other metal ores and concentrates (+36.2%) were the main contributor to the increase. Overall, volumes increased 15.2%.

Exports to the United States rose 1.1% to $32.8 billion. Exports to countries other than the United States were down 1.5% to $10.8 billion, with the United Kingdom (-$555 million) and Japan (-$198 million) contributing the most to the decline.

Imports from the United States declined 1.2% to $29.8 billion in February. Imports from countries other than the United States edged up 0.3% to $14.7 billion, led by Mexico (+$81 million) and Saudi Arabia (+$59 million).

As a result, Canada's trade surplus with the United States widened from $2.2 billion in January to $2.9 billion in February. Canada's trade deficit with countries other than the United States widened from $3.7 billion in January to $3.9 billion in February.

Statistics Canada | Joana Ferreira | joana.ferreira@tradingeconomics.com
4/2/2015 1:59:08 PM


Recent Releases

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 Deficit Widens 93.73% in December
Canada trade gap increased to CAD 649 million in December of 2014 from a revised CAD 335 million in the previous month, hurt by a 10.3 percent drop in energy sales. Published on 2015-02-05


Calendar GMT Event Actual Previous Consensus Forecast (i)
2015-02-05 01:30 PM
Balance of Trade  Dec
CAD -0.65B CAD 0.34B(R) CAD -1200M CAD 368.35M
2015-03-06 01:30 PM
Balance of Trade  Jan
CAD-2.45B CAD-1.22B (R) CAD-1B CAD 0.1B
2015-04-02 01:30 PM
Balance of Trade  Feb
CAD -0.98B CAD-1.48B (R) CAD -2B CAD -1.6B
2015-05-05 01:30 PM
Balance of Trade  Mar
CAD -0.98B CAD 0.1B
2015-06-04 01:30 PM
Balance of Trade  Apr
CAD 0B
2015-07-03 01:30 PM
Balance of Trade  May
CAD -0.1B


Canada Trade Last Previous Highest Lowest Unit
Balance of Trade -984.00 -1475.00 8524.80 -2902.90 CAD Million [+]
Exports 43521.00 43345.00 45537.80 1366.00 CAD Million [+]
Imports 44505.00 44820.00 45150.00 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 96.10 93.80 110.30 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 [+]


Balance of Trade Reference Previous Highest Lowest Unit
Australia -1256.00 Feb/15 -1003.00 2251.00 -3884.00 AUD Million [+]
Brazil 458.00 Mar/15 -2841.76 5659.37 -4058.14 USD Million [+]
Canada -984.00 Feb/15 -1475.00 8524.80 -2902.90 CAD Million [+]
China 30.81 Mar/15 606.19 606.19 -319.71 USD Hundred Million [+]
Euro Area 20300.00 Feb/15 7600.00 24009.80 -16638.00 EUR Million [+]
France -3449.00 Feb/15 -3710.00 2674.00 -7086.00 EUR Million [+]
Germany 19515.32 Feb/15 15900.00 23500.00 -535.91 EUR Million [+]
India -11790.00 Mar/15 -6847.00 258.90 -20210.90 USD Million [+]
Indonesia 1131.60 Mar/15 662.70 4641.92 -2329.13 USD Million [+]
Italy 3537.91 Feb/15 232.00 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 6009.00 Feb/15 4657.10 6009.00 -907.60 EUR Million [+]
Russia 13600.00 Mar/15 13597.00 20356.00 -185.00 USD Million [+]
South Korea 8380.51 Mar/15 7706.30 8380.51 -4043.45 USD Million [+]
Spain -2037200.00 Feb/15 -2596200.00 634935.00 -9834766.00 EUR Thousand [+]
Switzerland 2525.00 Mar/15 2316.16 3894.91 -1478.68 CHF million [+]
Turkey -4655.64 Feb/15 -4320.27 24.51 -10453.06 USD Million [+]
United Kingdom -2859.00 Feb/15 -1536.00 2946.00 -5397.00 GBP Million [+]
United States -35444.00 Feb/15 -42676.00 1946.00 -67823.00 USD Million [+]