Canada's trade surplus rose to CAD 1.1 billion in September of 2022, from a downwardly revised surplus of CAD 0.6 billion in the previous month but below market expectations of CAD 1.3 billion. Exports rose by 1.3% to CAD 66.4 billion, largely due to higher shipments of wheat (65.2%) and crude oil (4%). Meanwhile, imports increased by 0.4% to CAD 65.2 billion, mainly on higher purchases of pharmaceutical products (22.7%). source: Statistics Canada

Balance of Trade in Canada averaged 1165.48 CAD Million from 1971 until 2022, reaching an all time high of 8524.80 CAD Million in January of 2001 and a record low of -5755.00 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. Canada Balance of Trade - data, historical chart, forecasts and calendar of releases - was last updated on November of 2022.

Balance of Trade in Canada is expected to be 3138.00 CAD Million by the end of this quarter, according to Trading Economics global macro models and analysts expectations. In the long-term, the Canada Balance of Trade is projected to trend around 2127.00 CAD Million in 2023 and 1015.00 CAD Million in 2024, according to our econometric models.

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Canada Balance of Trade



Calendar GMT Actual Previous Consensus TEForecast
2022-10-05 12:30 PM Aug C$1.52B C$2.37B C$3.45B C$3.9B
2022-11-03 12:30 PM Sep C$1.14B C$0.55B C$1.34B C$ 3.6B
2022-12-06 01:30 PM Oct C$1.14B C$3.4B


Related Last Previous Unit Reference
Balance of Trade 1138.30 550.00 CAD Million Sep 2022
Current Account -11101.00 2645.00 CAD Million Sep 2022
Current Account to GDP 0.10 -1.90 percent of GDP Dec 2021
Imports 65228.20 64937.00 CAD Million Sep 2022
Exports 66366.50 65487.00 CAD Million Sep 2022
External Debt 3239745.00 3213412.00 CAD Million Jun 2022
Terms of Trade 100.90 104.50 points Sep 2022
Capital Flows -14411.00 184.00 CAD Million Sep 2022
Foreign Direct Investment 24852.00 20113.00 CAD Million Jun 2022
Oil Exports 12515.70 12180.70 CAD Million Sep 2022
Tourist Arrivals 2814980.00 2188742.00 Jul 2022

Canada Balance of Trade
Between 1980 and 2008, Canada recorded a positive trade balance every year, with an expectation of 1991 and 1992. From 2009 onwards, the trade balance shifted to a deficit. In 2021, it switched again to a trade surplus, with energy products making the largest share of exports. The United States remains the country's biggest trading partner.
Actual Previous Highest Lowest Dates Unit Frequency
1138.30 550.00 8524.80 -5755.00 1971 - 2022 CAD Million Monthly

News Stream
Canada Trade Surplus Widens in September
Canada's trade surplus rose to CAD 1.1 billion in September of 2022, from a downwardly revised surplus of CAD 0.6 billion in the previous month but below market expectations of CAD 1.3 billion. Exports rose by 1.3% to CAD 66.4 billion, largely due to higher shipments of wheat (65.2%) and crude oil (4%). Meanwhile, imports increased by 0.4% to CAD 65.2 billion, mainly on higher purchases of pharmaceutical products (22.7%).
2022-11-03
Canada Trade Surplus Narrows
Canada posted a trade surplus of CAD 1.5 billion in August of 2022, narrowing from a downwardly revised surplus of CAD 2.4 billion in the previous month, below market expectations of a CAD 3.45 billion surplus. It was the smallest trade surplus since last December, as exports decreased 2.9% over a month to CAD 69.4 billion, largely due to lower exports of energy products (-6%). Meanwhile, imports fell 1.7% to CAD 63.9 billion, mainly on reduced purchases of motor vehicles and parts (-7.1%) due to lingering supply chain issues.
2022-10-05
Canada Trade Surplus Narrows in July
Canada posted a trade surplus of CAD 4.1 billion in July of 2022, narrowing from a downwardly revised surplus of CAD 4.9 billion in the previous month but surpassing expectations of a CAD 3.8 billion net positive balance. Exports fell by 2.8 percent to CAD 68.3 billion, the first monthly decrease in 2022, as lower energy prices prompted a decline in sales of energy products (-4.2 percent). Outbound shipments also fell sharply for consumer goods (-14.3 percent), pharmaceutical goods (-49.1 percent), and metal and non-metallic goods (-8.4 percent). Imports fell by a slower 1.8 percent to CAD 64.2 billion, amid a decrease in purchases of consumer goods (-4.2 percent), energy (-10.2 percent), and industrial equipment and parts (-6 percent). On the other hand, imports of motor vehicles and parts surged 8.4 percent.
2022-09-07