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

Canada recorded a trade deficit of 2451 CAD Million in January of 2015. Balance of Trade in Canada averaged 1606.92 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
-2451.00 -1218.00 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 Wednesday, April 1, 2015.


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.

Exports declined 2.8% to $42.6 billion in January, as 4 of 11 sections decreased. Energy products, mainly crude oil and crude bitumen, were the main contributor to the decline. Excluding crude oil and crude bitumen, exports increased 0.2% in January. Year over year, total exports were up 3.4%.

Exports of energy products fell 14.7% to $7.0 billion in January, the eighth consecutive monthly decrease. Crude oil and crude bitumen exports declined 23.0% to $4.4 billion, as prices fell 23.2%.

Exports of metal and non-metallic mineral products were down 8.6% to $5.1 billion. Unwrought precious metals and precious metal alloys (-13.5%) and unwrought, basic and semi-finished aluminum and aluminum-alloy products (-20.4%) were the main contributors to the decrease. Overall, volumes declined 8.0%.

Meanwhile, exports of motor vehicles and parts were up 3.1% to $6.9 billion in January. Exports of passenger cars and light trucks rose 8.6% to $4.8 billion. This increase was partially offset by lower exports of motor vehicle engines and motor vehicle parts, down 11.5% to $1.6 billion.

Imports for January were virtually unchanged at $45.1 billion, as advances in five sections were offset by declines in the six remaining sections. Imports were up 8.8% from January 2014.

Imports of electronic and electrical equipment and parts rose 9.3% to $5.3 billion in January, as volumes were up 7.4% and prices 1.8%. The increase for this section was almost entirely the result of higher imports of communications and audio and video equipment, up 29.8% to $2.0 billion.

Industrial machinery, equipment and parts increased 8.2% to $4.7 billion. Widespread increases in imports for this section were led by other industry-specific machinery (+32.6%) and other general-purpose machinery and equipment (+5.9%), both reaching record highs. Overall, volumes rose 5.0% and prices 3.0%.

Partially offsetting these gains, imports of energy products fell 19.2% to $2.7 billion. Crude oil and crude bitumen declined 27.6% to $1.3 billion, as prices fell 26.9% and volumes 0.9%. Imports of refined petroleum energy products (-12.8%) were also down in January.

Exports to the United States declined 3.1% to $31.8 billion in January. Exports to countries other than the United States were down 1.9% to $10.9 billion. This decrease was widespread across most principal trading partners, led by lower exports to the Netherlands (-$184 million) and Italy (-$172 million). Conversely, exports to the United Kingdom increased by $357 million.

Imports from the United States edged down 0.1% to $30.5 billion. Imports from countries other than the United States edged up 0.2% to $14.5 billion. Higher imports from China (+$250 million) were partially offset by lower imports from the United Kingdom (-$174 million) and Saudi Arabia (-$111 million).

Consequently, Canada's trade surplus with the United States narrowed from $2.2 billion in December to $1.2 billion in January, the lowest surplus since 1992. Canada's trade deficit with countries other than the United States widened from $3.4 billion in December to $3.7 billion in January.

Statistics Canada | joana.ferreira@tradingeconomics.com
3/6/2015 1:57:12 PM


Recent Releases

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

Canada Trade Deficit Widens in November
Canada’s trade gap increased to CAD 644 million in November of 2014 from a revised CAD 327 million in the previous month as exports declined more than imports. Published on 2015-01-07


Calendar GMT Event Actual Previous Consensus Forecast (i)
2015-01-07 01:30 PM
Balance of Trade  Nov
CAD -0.644B CAD -0.327B (R) CAD -0.3B CAD 0.8B
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-2.45B CAD -2B CAD -1.6B
2015-05-06 01:30 PM
Balance of Trade  Mar
CAD 0.1B
2015-06-04 01:30 PM
Balance of Trade  Apr
CAD 0B


Canada Trade Last Previous Highest Lowest Unit
Balance of Trade -2451.00 -1218.00 8524.80 -2902.90 CAD Million [+]
Exports 42611.00 43840.00 45537.80 1366.00 CAD Million [+]
Imports 45063.00 45058.00 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 94.00 94.30 110.30 81.20 Index Points [+]
Foreign Direct Investment 30.00 1896.00 7999.00 -2013.00 CAD Million [+]
Capital Flows -14.00 -4.00 1382.98 -672.00 CAD Million [+]
Gold Reserves 2.99 2.99 46.19 2.99 Tonnes [+]
Crude Oil Production 0.00 0.00 3677.00 0.00 BBL/D/1K [+]


Balance of Trade Reference Previous Highest Lowest Unit
Australia -980.00 Jan/15 -503.00 2219.00 -3897.00 AUD Million [+]
Brazil -2841.76 Feb/15 -3173.95 5659.37 -4058.14 USD Million [+]
Canada -2451.00 Jan/15 -1218.00 8524.80 -2902.90 CAD Million [+]
China 606.19 Feb/15 600.30 606.19 -319.71 USD Hundred Million [+]
Euro Area 7943.60 Jan/15 24009.80 24009.80 -16638.00 EUR Million [+]
France -3726.00 Jan/15 -3296.00 2674.00 -7086.00 EUR Million [+]
Germany 15900.00 Jan/15 18900.00 23400.00 -535.91 EUR Million [+]
India -6847.00 Feb/15 -8322.00 258.90 -20210.90 USD Million [+]
Indonesia 738.30 Feb/15 743.50 4641.92 -2329.13 USD Million [+]
Italy 219.00 Jan/15 5741.00 6923.00 -6389.30 EUR Million [+]
Japan -425.00 Feb/15 -1177.50 1608.67 -2795.04 JPY Billion [+]
Mexico 558.30 Feb/15 -3248.00 1710.25 -3292.30 USD Million [+]
Netherlands 5138.00 Jan/15 4891.20 5138.00 -907.60 EUR Million [+]
Russia 15047.00 Jan/15 12927.00 20356.00 -185.00 USD Million [+]
South Korea 7706.30 Feb/15 5362.32 7706.31 -4043.45 USD Million [+]
Spain -2596200.00 Jan/15 -1821800.00 634935.00 -9834766.00 EUR Thousand [+]
Switzerland 2472.61 Feb/15 3409.00 3894.91 -1478.68 CHF million [+]
Turkey -4655.64 Feb/15 -4320.27 24.51 -10453.06 USD Million [+]
United Kingdom -616.00 Jan/15 -2142.00 2946.00 -5397.00 GBP Million [+]
United States -41752.00 Jan/15 -45601.00 1946.00 -67823.00 USD Million [+]