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

Canada recorded a trade deficit of 650 CAD Million in December of 2014. Balance of Trade in Canada averaged 1615.68 CAD Million from 1971 until 2014, 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.

      Forecast    
Canada Balance of Trade


Actual Previous Highest Lowest Dates Unit Frequency
-650.00 -340.00 8524.80 -2902.90 1971 - 2014 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 Thursday, March 5, 2015.


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.

Exports rose 1.5 percent to CAD 44.1 billion in December. There were gains in 8 of 11 sections, led by metals and non-metallic mineral products.

Exports of metal and non-metallic mineral products increased 13.1 percent to a record CAD 5.6 billion in December. This increase was led by exports of unwrought precious metals and precious metal alloys, which rose 28.2 percent to CAD 1.9 billion, followed by exports of unwrought, basic and semi-finished aluminum and aluminum-alloy products, up 28.1 percent to CAD 860 million. Consumer goods advanced 5.2 percent to CAD 5.2 billion, on higher volumes. Exports of pharmaceutical and medicinal products increased 14.7 percent to CAD 806 million. Other food products, mainly yellow peas, also increased in December, up 6.2 percent to CAD 1.1 billion.

Partially offsetting these increases was a 10.3 percent decline in energy products to CAD 8.6 billion, the seventh consecutive monthly decrease. There were lower exports of crude oil and crude bitumen (-12.0 percent) and natural gas (-19.7 percent) but higher exports of refined petroleum energy products (+13.7 percent). Overall, prices declined 12.3 percent while volumes were up 2.3 percent.

Exports to countries other than the United States increased 4.5 percent to CAD11.0 billion, led by exports to the United Kingdom, up CAD 470 million. Exports to the United States were up 0.6 percent to CAD 33.1 billion

Imports rose 2.3 percent to CAD 44.7 billion in December with gains in 8 of 11 sections. The main contributors to the increase in imports were energy products, motor vehicles and parts, as well as metal and non-metallic mineral products.

Imports of energy products rose 9.3 percent to CAD 3.5 billion. Imports of crude oil and crude bitumen increased 20.2 percent to CAD 1.9 billion, on higher volumes, as a number of refineries have returned to full capacity following maintenance. Motor vehicles and parts advanced 3.3 percent to a record CAD 8.1 billion. Imports of motor vehicle engines and motor vehicle parts (+5.4 percent) and passenger cars and light trucks (+2.1 percent) were the main contributors to the gain. Imports of metal and non-metallic mineral products increased 6.1 percent to CAD 4.2 billion, as volumes rose 4.4 percent and prices 1.7 percent. There were increases in 9 of the 10 commodity groupings in the section, led by unwrought precious metals and precious metal alloys, up 18.6 percent to CAD 926 million.

Imports from countries other than the United States were up 5.3 percent to CAD 14.7 billion in December. There were higher imports from Saudi Arabia (+CAD 174 million), Norway (+CAD 171 million) and the United Kingdom (+CAD 116 million). Imports from the United States increased 0.8 percent to CAD 30.0 billion in December.

Imports were 7.6 percent higher in 2014 than in 2013 while exports increased 10.3 percent Consequently, Canada's annual merchandise trade balance with the world swung from a deficit of CAD 7.2 billion in 2013 to a surplus of CAD 5.2 billion in 2014.

Statistics Canada | Carolina Cunha | carolina.cunha@tradingeconomics.com
2/5/2015 2:01:23 PM


Recent Releases

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

Canada Trade Surplus Narrows in October
Canada's trade surplus narrowed to CAD 99 million in October of 2014 from revised CAD 307 million in the previous month. Exports edged up 0.1% to CAD 44.9 billion while imports increased by 0.5% to CAD 44.8 billion. Published on 2014-12-05


Calendar GMT Event Actual Previous Consensus Forecast (i)
2014-12-05 01:30 PM
Balance of Trade  Oct
CAD 0.10B CAD 0.31B (R) CAD 0.2B CAD 1.2B
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-0.65B CAD-1B CAD 0.1B
2015-04-03 01:30 PM
Balance of Trade  Feb
CAD 0.1B
2015-05-06 01:30 PM
Balance of Trade  Mar
CAD 0.1B


Canada Trade Last Previous Highest Lowest Unit
Balance of Trade -650.00 -340.00 8524.80 -2902.90 CAD Million [+]
Exports 44055.40 43384.00 45537.80 1366.00 CAD Million [+]
Imports 44703.90 43719.40 45150.00 1112.00 CAD Million [+]
Current Account -13920.00 -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 94.40 95.70 110.30 81.20 Index Points [+]
Foreign Direct Investment 1951.00 2978.00 7999.00 -2013.00 CAD Million [+]
Capital Flows -4.00 -2.00 19.00 -672.00 CAD Million [+]
Gold Reserves 2.99 2.99 46.19 2.99 Tonnes [+]
Crude Oil Production 3677.00 3657.00 3677.00 955.00 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 -2842.00 Feb/15 -3173.95 5659.37 -4058.14 USD Million [+]
Canada -650.00 Dec/14 -340.00 8524.80 -2902.90 CAD Million [+]
China 600.30 Jan/15 496.13 544.76 -319.71 USD Hundred Million [+]
Euro Area 24300.00 Dec/14 21200.00 24300.00 -16638.00 EUR Million [+]
France -3446.00 Dec/14 -3093.00 2674.00 -7086.00 EUR Million [+]
Germany 19000.00 Dec/14 17900.00 23400.00 -535.91 EUR Million [+]
India -8320.00 Jan/15 -9430.00 258.90 -20210.90 USD Million [+]
Indonesia 709.40 Jan/15 186.80 4641.92 -2329.13 USD Million [+]
Italy 5756.00 Dec/14 3541.23 6923.00 -6389.30 EUR Million [+]
Japan -1177.50 Jan/15 -660.70 1608.67 -2795.04 JPY Billion [+]
Mexico -3248.00 Jan/15 254.00 1710.25 -3292.30 USD Million [+]
Netherlands 4891.20 Dec/14 5110.00 5110.00 -907.60 EUR Million [+]
Russia 12927.00 Dec/14 13359.00 20356.00 -185.00 USD Million [+]
South Korea 5530.00 Jan/15 5750.00 7380.00 -4043.45 USD Million [+]
Spain -1821800.00 Dec/14 -1555245.00 634935.00 -9834766.00 EUR Thousand [+]
Switzerland 3432.72 Jan/15 1514.42 3901.00 -1478.68 CHF million [+]
Turkey -4305.31 Jan/15 -8505.55 24.51 -10453.06 USD Million [+]
United Kingdom -2895.00 Dec/14 -1841.00 2946.00 -5397.00 GBP Million [+]
United States -46560.00 Dec/14 -39750.00 1946.00 -67823.00 USD Million [+]