Canada’s trade deficit narrowed to CAD 1.1 billion in November 2019 from an upwardly revised CAD 1.6 billion in October and compare with market expectations of a CAD 1.15 billion gap. It was the smallest trade gap since June last year, as exports dropped 1.4 percent month-over-month to CAD 48.7 billion, dragged by lower shipments of energy products (-7.4 percent). In contrast, higher exports of metal and non-metallic mineral (7.3 percent) and farm, fishing and intermediate food products (9.6 percent) partially offset the decrease in total exports. Exports to the US dropped 3.3 percent in November while those to countries other than the US were up 4.3 percent. Imports to Canada declined 2.4 percent month-over-month to CAD 51.54 billion amid lower imports of aircraft and other transportation equipment and parts (-13.8 percent) and energy products (-7.5 percent). Imports from the US dropped 1.1 percent while those from countries other than the US plunged 4.7 percent.
Balance of Trade in Canada averaged 1258.70 CAD Million from 1971 until 2019, reaching an all time high of 8524.80 CAD Million in January of 2001 and a record low of -4953.10 CAD Million in December of 2018. 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. source: Statistics Canada
Balance of Trade in Canada is expected to be -3300.00 CAD Million by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Balance of Trade in Canada to stand at 3200.00 in 12 months time. In the long-term, the Canada Balance of Trade is projected to trend around 3200.00 CAD Million in 2020, according to our econometric models.