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

Canada's trade deficit widened to record CAD 3.4 billion in March of 2016 from an upwardly revised CAD 2.47 billion gap in February and well above market expectations of CAD 1.4 billion shortfall. Exports fell 4.8 percent and imports went down at a slower 2.4 percent. Balance of Trade in Canada averaged 1516.83 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 -3414 CAD Million in March of 2016. Balance of Trade in Canada is reported by the Statistics Canada.

Canada Balance of Trade
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Actual Previous Highest Lowest Dates Unit Frequency
-3414.00 -2468.00 8524.80 -3414.00 1971 - 2016 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 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 May of 2016.


Calendar GMT Reference Actual Previous Consensus Forecast (i)
2016-03-04 01:30 PM Jan C$-0.66B C$-0.63B C$-1.05B C$-0.9B
2016-04-05 12:30 PM Feb C$-1.91B C$-0.63B C$ -0.9B C$ -0.8B
2016-05-04 12:30 PM Mar C$-3.41B C$-2.47B C$-1.4B C$-1.6B
2016-06-03 12:30 PM Apr C$-3.41B C$-2.9B
2016-07-06 12:30 PM May -2.7B
2016-08-05 12:30 PM Jun -2.8B

Canada Trade Gap Hits Record High in March


Canada's trade deficit widened to record CAD 3.4 billion in March of 2016 from an upwardly revised CAD 2.47 billion gap in February and well above market expectations of CAD 1.4 billion shortfall. Exports fell 4.8 percent and imports went down at a slower 2.4 percent.

Total exports fell 4.8 percent month-on-month to $41 billion in March, the lowest since January 2014. Exports of motor vehicles and parts went down by 6.0 percent, the second consecutive monthly decline, as passenger cars and light trucks (-6.6 percent) and motor vehicle engines and motor vehicle parts  (-4.8 percent) sales decreased. Exports of consumer goods declined 4.6 percent, led by pharmaceutical and medicinal products (-7.4 percent), miscellaneous goods and supplies (-9.5 percent), and other food products (-4.3 percent). Also, exports of metal and non-metallic mineral products fell 5.4 percent.

Total imports were down 2.4 percent to $44.4 billion. Imports of consumer goods fell 4.6 percent, driven by miscellaneous goods and supplies (-8.0 percent), furniture and fixtures (-14.2 percent), and clothing, footwear and accessories (-6.4 percent). Imports of aircraft and other transportation equipment and parts declined 20.4 percent. Partially offsetting these declines, imports of energy products increased 13.5 percent, as crude oil and crude bitumen rose 64.7 percent. 

Year-over-year, imports decreased 4 percent and exports were down 5.1 percent.

Statistics Canada | Yekaterina Guchshina| yekaterina@tradingeconomics.com
5/4/2016 1:52:31 PM

Canada Trade Last Previous Highest Lowest Unit
Balance of Trade -3414.00 -2468.00 8524.80 -3414.00 CAD Million [+]
Exports 40990.00 43051.00 46087.90 1366.00 CAD Million [+]
Imports 44404.00 45519.00 46926.00 1112.00 CAD Million [+]
Current Account -15379.00 -16571.00 12230.00 -20197.00 CAD Million [+]
Current Account to GDP -2.10 -2.90 2.70 -4.20 percent [+]
External Debt 612.33 611.88 612.33 14.82 CAD Billion [+]
Terms of Trade 87.80 87.70 110.30 81.20 Index Points [+]
Foreign Direct Investment 8894.00 35076.00 50740.00 -8173.00 CAD Million [+]
Capital Flows -2.00 -2.00 4632.00 -672.00 CAD Million [+]
Gold Reserves 1.70 2.99 46.19 1.70 Tonnes [+]
Crude Oil Production 3724.00 3870.00 3912.00 955.00 BBL/D/1K [+]
Terrorism Index 2.30 2.30 3.00 0.65 [+]
Tourist Arrivals 1719281.00 1479870.00 7006165.00 1138895.00 [+]




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