Canada International Trade

Data Trade

Source: Statistics Canada
Source Link: https://www.statcan.gc.ca/
Frequency: Monthly
Next Release(s): September 4th, 2025 8:30 AM

Latest Updates

Canada’s merchandise trade deficit widened to -$5.9 billion in June 2025 (from -$5.5 billion in May), as imports rose +1.4% MoM and exports increased +0.9% MoM.
- Imports were driven by a one-time +27.7% MoM jump in industrial machinery; excluding this, imports fell -1.9%.
- Motor vehicle and parts imports rose +2.9% MoM, while consumer goods fell -4.8% and metal products declined -7.8%.
- Exports were led by energy products (+3.8% MoM) and farm/fishing products (+6.7%), while metal exports fell -3.4% and autos dropped -4.2%.
- Exports to the U.S. rose +3.1% MoM but remain -12.5% YoY; trade surplus with the U.S. widened to $3.9 billion.
- Q2 2025 exports fell -12.8% QoQ (after a record Q1), while imports declined -3.9% QoQ; the quarterly trade deficit widened to a record -$19.0 billion.
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Canada’s international merchandise trade deficit narrowed to -$5.9 billion in May 2025 (from -$7.6 billion in April), as exports rose +1.1% MoM and imports fell -1.6% MoM.
- Export growth was driven by a +30.1% MoM surge in unwrought gold shipments to the UK; excluding metals, exports fell -1.2%.
- Energy exports declined -5.6% MoM, with crude oil down -4.0% on lower prices and volumes.
- Imports fell for a third straight month, led by a -16.8% MoM drop in metal products and a -5.3% decline in motor vehicles and parts.
- Exports to the U.S. fell -0.9% MoM, the fourth monthly decline; non-U.S. exports rose +5.7% to a record high.
- The combined goods and services trade deficit narrowed to -$6.6B in May (from -$8.0B), as services exports dipped -0.2% and imports rose +1.8%.
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Canada’s international trade in services deficit narrowed to $0.3 billion in April from $0.5 billion in March, as service imports fell -1.1% MoM and exports declined -0.5% MoM.
- Travel service imports fell -4.1% MoM to $4.6 billion, driven by lower Canadian spending in the US.
- Commercial service imports slipped -0.4% MoM, while transportation service imports rose +1.3% MoM.
- Travel service exports dropped -3.7% MoM to $5.2 billion due to weaker spending by US and overseas visitors.
- Commercial service exports rose +0.7% MoM to $10.7 billion, led by financial services tied to market activity.
- In goods trade, exports fell -10.8% MoM and imports -3.5% MoM, widening the merchandise trade deficit to $7.1 billion from $2.3 billion.
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Canada’s merchandise trade deficit narrowed to $506 million in March from $1.4 billion in February as exports fell -0.2% MoM and imports dropped -1.5% MoM.
- Exports to the US declined -6.6% MoM amid new tariffs, while exports to non-US countries surged 24.8% MoM.
- Consumer goods exports fell -4.2% MoM, led by a -10.8% drop in meat products and -7.0% in pharmaceuticals.
- Energy exports declined -2.2% MoM, with nuclear fuel down -54.5% and natural gas down -13.7%.
- Motor vehicle and parts exports rebounded 7.7% MoM after a sharp February drop, with passenger cars/light trucks up 11.8%.
- Imports fell for the first time since September 2024, led by declines in energy (-18.8% MoM) and metals/minerals (-15.8% MoM); imports from the US fell -2.9% MoM.
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Canada’s trade balance flipped from a surplus of $3.1 billion in January to a deficit of $1.5 billion in February.
- Exports fell -5.5% MoM to $70.1 billion, and imports increased 0.8% MoM to $71.6 billion, the 5th straight monthly increase.
- After increasing 15.9% from September 2024 to January 2025, total exports decreased -5.5% in February.
- Exports of energy products (-6.3% MoM) posted the largest decline in February, the first decrease since September 2024.
- The largest contributors to the increase in February were imports of motor vehicles and parts (+5.8% MoM), industrial machinery, equipment and parts (+3.1% MoM), energy products (+5.2% MoM) and metal and non-metallic mineral products (+3.5% MoM).
- After rising for three consecutive months and reaching a record high in January, exports to the United States were down -3.6% MoM in February, representing a decrease of -$2.1 billion. Meanwhile, imports rose 2.5% MoM in February.
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Canada’s trade balance increased from $1.7 billion in December to $4.0 billion in January, above expectations of a $1.3 billion surplus and the largest since May 2022.
- Exports jumped 5.5% MoM in January after a 6.0% MoM rise in December. Exports to the United States increased 7.5% in January and reached a record for a second consecutive month.
- Exports of motor vehicles & parts jumped 12.5% MoM, and exports of consumer goods rose 7.8% MoM.
- Energy product exports, especially crude oil and natural gas, were up 4.8% MoM.
- Imports increased 2.3% MoM in January after rising 2.6% MoM in December. Imports from the US were up 4.7% MoM.
- The largest contributors were imports of aircraft and other transportation equipment and parts (+23.6% MoM), electronic and electrical equipment and parts (+5.8% MoM), and energy products (+8.5% MoM).
- Canada's merchandise trade surplus with the United States widened from $12.3 billion in December to a record $14.4 billion in January.
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Canada achieved its first merchandise trade surplus since February 2024, with the balance improving from a $986 million deficit in November to a $708 million surplus in December, driven by exports rising 4.9% MoM while imports increased by 2.3% MoM.
- Total monthly exports in December were at the highest level since May 2022.
- Energy exports showed significant growth, rising 9.5% MoM in December, primarily due to an 11% MoM increase in crude oil exports, likely a result of US importers trying to build inventory ahead of tariffs.
- Metal and non-metallic mineral product exports reached a record high of $10 billion in December, with strong increases across various categories including waste and scrap metal (+35.6% MoM) and unwrought nickel and nickel alloys (+63.3% MoM).
- For the full year 2024, total merchandise exports increased by 1.0% compared to 2023, while imports rose 1.9%, resulting in the merchandise trade deficit widening from $610 million in 2023 to $7.2 billion in 2024.
- Canada's trade relationship with the United States remained robust in 2024, with the US accounting for 75.9% of Canada's total exports and 62.2% of total imports, although the annual trade surplus with the US narrowed to $102.3 billion from $108.3 billion in 2023.
- The trade surplus with the United States widened to $11.3 billion in December from $8.2 billion in November, while the deficit with other countries increased to $10.6 billion from $9.2 billion in the same period.
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Canada’s trade deficit fell from $544 million in October to $323 million in November. Exports were up 2.2% MoM, and imports were up 1.8% MoM. The devaluation of the CAD against the dollar helped exports on the month. In USD terms, exports were up just 0.8% MoM while imports actually fell -1.0% MoM.

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