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

Canada's merchandise trade deficit came in at CAD 3.63 billion in June 2016 compared to a revised CAD 3.50 billion gap in the previous month, missing market consensus. It was the biggest deficit on record, as exports rose 0.6 percent while imports advanced at a faster 0.8 percent. Canada's quarterly trade deficit widened to a record CAD 10.7 billion in the second quarter 2016 from CAD 6.4 billion in the first quarter. Balance of Trade in Canada averaged 1491.21 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 -3632.40 CAD Million in June 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
-3632.40 -3504.20 8524.80 -3632.40 1971 - 2016 CAD Million Monthly
Between 1970 and 2008 Canada had been recording trade surpluses every year but from 2009 trade balance shifted to deficit as imports value increased more than exports. The United States is by far its largest trading partner, accounting for about 75% of exports and 66% of imports as of 2015. 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 August of 2016.


Calendar GMT Reference Actual Previous Consensus Forecast (i)
2016-06-03 12:30 PM Apr C$-2.94 B C$-3.18B C$-2.45B C$-2.9B
2016-07-06 12:30 PM May C$-3.28B C$-3.32B C$-2.7B C$-2.7B
2016-08-05 12:30 PM Jun C$-3.63B C$-3.50B C$-2.82B C$ -2.9B
2016-09-02 12:30 PM Jul C$-3.63B C$ -3.2B C$ -3.2B
2016-10-05 12:30 PM Aug -3.6B
2016-11-04 01:30 PM Sep -3.6B

Canada Trade Gap Widens to Record High in June


Canada's merchandise trade deficit came in at CAD 3.63 billion in June 2016 compared to an upwardly revised CAD 3.50 billion gap in the previous month, missing market consensus. It was the biggest deficit on record, as exports rose 0.6 percent while imports advanced at a faster 0.8 percent.

Total exports were up 0.6 percent to CAD 41.4 billion. Higher exports of energy products and basic and industrial chemical, plastic and rubber products were partially offset by lower exports of metal and non-metallic mineral products. Exports excluding energy products were down 0.4 percent.

Exports of energy products rose 7.2 percent, the fourth consecutive monthly gain. Crude oil and crude bitumen advanced 6.8 percent, as prices were up 9.1%. Also contributing to the increase were higher exports of natural gas, up 20 percent, as prices rose 32.3 percent. Exports of basic and industrial chemical, plastic and rubber products rose 5.2 percent, boosted by higher exports of plastic resins (+9.3 percent), dyes and pigments, and petrochemicals (+26.4 percent), and basic chemicals (+5.5 percent). Moderating these gains, exports of metal and non-metallic mineral products fell 6.9 percent.

Total imports rose 0.8 percent to CAD 45.0 billion, despite losses in 6 of 11 sections. Higher imports of motor vehicles and parts, energy products, and electronic and electrical equipment and parts were partially offset by lower imports of aircraft and other transportation equipment and parts.

Imports of motor vehicles and parts reached a record high in June, up 3.6 percent. The gain was led by passenger cars and light trucks (+6.3 percent), which increased for the seventh consecutive month to reach a record high. Imports of energy products increased 12.7 percent, attributable to higher imports of refined petroleum energy products, up 30.8 percent to $894 million, mainly on higher volumes. Also contributing to the overall gain, imports of electronic and electrical equipment and parts were up 3.1 percent. Partially offsetting these gains, imports of aircraft and other transportation equipment and parts fell 22 percent. This is the second consecutive monthly decline, following a record high in April.

In the second quarter of 2016, exports dropped 4.7 percent from the previous period to CAD 124.0 billion, the largest decline since the second quarter of 2009. Imports decreased 1.4 percent to CAD 134.7 billion. Consequently, Canada's quarterly trade deficit widened to a record CAD 10.7 billion in the second quarter 2016 from CAD 6.4 billion in the first quarter.

Statistics Canada | Joana Ferreira | joana.ferreira@tradingeconomics.com
8/5/2016 2:07:18 PM

Canada Trade Last Previous Highest Lowest Unit
Balance of Trade -3632.40 -3504.20 8524.80 -3632.40 CAD Million [+]
Exports 41386.90 41151.50 46015.80 1366.00 CAD Million [+]
Imports 45019.30 44655.70 46899.00 1112.00 CAD Million [+]
Current Account -16800.00 -16571.00 12230.00 -20197.00 CAD Million [+]
Current Account to GDP -3.30 -2.30 2.70 -4.20 percent [+]
External Debt 612.33 611.88 612.33 14.82 CAD Billion [+]
Terms of Trade 89.20 89.00 110.30 81.20 Index Points [+]
Foreign Direct Investment 7180.00 8894.00 50740.00 -8173.00 CAD Million [+]
Capital Flows -53.00 -2.00 4632.00 -672.00 CAD Million [+]
Gold Reserves 1.70 2.99 46.19 1.70 Tonnes [+]
Crude Oil Production 3639.00 3733.00 3912.00 955.00 BBL/D/1K [+]
Terrorism Index 2.30 2.30 3.00 0.65 [+]
Tourist Arrivals 3487950.00 2582295.00 7006165.00 1138895.00 [+]
Weapons Sales 312.00 254.00 469.00 38.00 USD Million [+]




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