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.


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Canada Balance of Trade

Actual Previous Highest Lowest Dates Unit Frequency
-1088.90 -1606.80 8524.80 -4953.10 1971 - 2019 CAD Million Monthly

Calendar GMT Actual Previous Consensus TEForecast
2019-10-04 12:30 PM Aug C$-0.96B C$-1.38B C$-1B C$-0.8B
2019-11-05 01:30 PM Sep C$-0.98B C$-1.24B C$-0.7B C$ -0.3B
2019-12-05 01:30 PM Oct C$-1.08B C$-1.23B C$-1.37B C$-1.4B
2020-01-07 01:30 PM Nov C$-1.09B C$-1.61B C$-1.15B C$ -0.9B
2020-02-05 01:30 PM Dec C$-1.09B C$ 0.5B


News Stream
2019-12-05
Canada Trade Gap Narrows in October
Canada’s trade deficit narrowed to CAD 1.08 billion in October 2019 from an upwardly revised CAD 1.23 billion in the previous month and compare with market expectations of a CAD 1.37 billion gap. Exports rose 0.8 percent over a month earlier, while imports increased at a softer 0.5 percent mainly due to higher purchases of energy products. The country's trade surplus with the US widened to CAD 5.5 billion in October from CAD 4.6 billion in September, the largest surplus since the financial crisis of 2008.

2019-11-05
Canada Trade Gap Narrows in September
Canada’s trade deficit decreased to CAD 0.98 billion in September 2019 from an upwardly revised CAD 1.24 billion in the previous month and compared with market expectations of a 0.7 billion shortfall. Imports fell at a quicker 1.7 percent month-over-month, on fewer metal and non-metallic mineral product acquisitions, particularly gold. Meantime, exports decreased 1.3 percent, led by energy products, mostly crude and also gold.

2019-10-04
Canada Trade Gap Narrows in August
Canada’s trade gap decreased to CAD 0.96 billion in August 2019 from an upwardly revised CAD 1.38 billion in the previous month and against market expectations of a CAD 1.0 billion gap. Canada's trade surplus with the United States widened from CAD 4.4 billion in July to CAD 4.9 billion in August.

2019-09-04
Canada Trade Gap Widens in July
Canada’s trade deficit widened to CAD 1.12 billion in July 2019 from a downwardly revised CAD 0.06 billion in the previous month and compared with market forecasts of a CAD 0.4 billion shortfall. Imports rose 1.2 percent while exports dropped 0.9 percent. The country's trade surplus with the US narrowed to CAD 4.58 billion from CAD 5.52 billion in the previous month.

2019-08-02
Canada Trade Surplus Narrows in June
Canada’s trade surplus decreased to CAD 0.14 billion in June 2019 from a downwardly revised CAD 0.56 billion in the previous month and against market expectations of a CAD 0.3 billion gap. It was the third trade surplus since December 2016, as exports were down 5.1 percent, while imports fell at a softer 4.3 percent, both due in part to significant decreases in crude oil, as well as aircraft and other transportation equipment and parts.

2019-07-03
Canada Trade Balance Swings to Surplus in May
Canada’s trade balance shifted to CAD 0.76 billion surplus in May 2019 from an upwardly revised CAD 1.08 billion in the previous month and compared with market expectations of a CAD 1.5 billion gap. It was the second trade surplus since December 2016, as exports rose 4.6 percent to a record high driven by motor vehicles and imports increased at a slower 1 percent mainly due to aircraft. Exports to the US went up 3.7 percent to an all-time high of CAD 39.3 billion.


Canada Balance of Trade
Between 1970 and 2008 Canada had been recording trade surpluses every year. From 2009 the trade balance shifted to deficit, with an exception of 2011 and 2014. In 2018, the largest trade deficits were recorded with China, Germany and Mexico, while the biggest trade surpluses were recorded with the US, the UK and Norway.

Canada Trade Last Previous Highest Lowest Unit
Balance of Trade -1088.90 -1606.80 8524.80 -4953.10 CAD Million [+]
Current Account -9855.00 -6740.00 12492.00 -20035.00 CAD Million [+]
Current Account to GDP -2.60 -2.80 2.70 -4.20 percent [+]
Imports 49783.50 51004.00 52433.30 1112.00 CAD Million [+]
Exports 48694.60 49397.20 52554.20 1366.00 CAD Million [+]
External Debt 2694641.00 2736179.00 2736179.00 795408.00 CAD Million [+]
Terms of Trade 92.50 91.50 108.50 79.10 points [+]
Foreign Direct Investment 13386.00 23066.00 50326.00 -8640.00 CAD Million [+]
Capital Flows 0.00 0.00 4632.00 -672.00 CAD Million [+]
Gold Reserves 0.00 0.00 46.20 0.00 Tonnes [+]
Crude Oil Production 4390.00 4320.00 4520.00 955.00 BBL/D/1K [+]
Terrorism Index 3.59 3.53 3.59 0.65 [+]
Tourist Arrivals 1787047.00 2432630.00 7006165.00 1138895.00 [+]
Weapons Sales 84.00 64.00 473.00 38.00 USD Million [+]