Canada recorded a trade deficit of 6324.40 CAD Million in August of 2025. This dataset 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.

International merchandise trade data grouped by Principal Trading Partners (PTP). Users have the option of selecting Imports, Exports or Trade Balance. Data are unadjusted and seasonally adjusted, on a Customs and Balance of Payments basis, at a quarterly frequency.

Key information about Canada's Trade Balance

• Canada's Trade Balance recorded a surplus of 2.8 USD bn in Jan 2025, compared with a surplus of 1.2 USD bn in the previous month
• Canada's Trade Balance data is updated monthly, available from Jan 1988 to Jan 2025, with an averaged value of 800.0 USD mn
• The data reached an all-time high of 6.4 USD bn in Oct 2005 and a record low of -4.3 USD bn in Dec 2018

• In the latest reports, Canada's Total Exports reached 51.8 USD bn in Jan 2025, an increase of 14.1% YoY (year-on-year)
• Total Imports recorded 49.0 USD bn in Jan 2025, an increase of 14.1% YoY (year-on-year)

The balance of trade in goods and services in Canada decreased to 1.98 billion dollars compared to the previous year. This was a significant decrease in the balance of trade.

Canada and United States bilateral trade in goods data produced by Statistics Canada and the United States Census Bureau (customs basis) and the United States Bureau of Economic Analysis (balance of payments basis). Data are presented before and after adjustments made to standardize definitions. Quarterly data are available on Customs and on Balance of payments basis and are not seasonally adjusted.

The United States recorded a trade deficit of 59.55 USD Billion in August of 2025. This dataset provides the latest reported value for - United States Balance of Trade - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news.

As of 2024, the United States had a trade deficit of about *** billion U.S. dollars. The U.S. trade deficit has increased since 2009, peaking in 2022. Most recently, 2023 marked the year when the U.S. trade deficit decreased from the previous year. What is trade deficit? A trade deficit is, quite simply, the total value of a country’s imports of goods and services minus the total value of its exports of goods and services. When a country exports more than it imports, it has a trade surplus, and when it imports more than it exports, it has a trade deficit. A trade deficit can mean one of two things: Either the country is failing to produce enough goods for its citizens, or its citizens are wealthy enough to purchase more goods than the country produces (as is the case with the United States). Trading partners The United States’ top export partners are its closest neighbors, Canada and Mexico, due in part to the North American Free Trade Agreement (NAFTA), which, pending ratification, will be replaced by the United States-Mexico-Canada Agreement (USMCA). Regarding imports to the U.S., China takes the top spot, followed by Mexico and Canada.

The statistic shows the trade balance of goods (exports minus imports of goods) in Canada from 2014 to 2024. A positive value means a trade surplus, a negative trade balance means a trade deficit. In 2024, the trade deficit of goods in Canada amounted to about **** billion U.S. dollars. Trade with Canada Canada reported a trade surplus until 2009 when the country’s trade balance went negative for the first time in recent history. Its deficit was ignited at the height of the global recession, and the value of exports decreased significantly at that time. It is only now showing signs of a recovery. Meanwhile, while imports decreased during the recession as well, they bounced back faster than exports. Currently, Canada maintains neither a trade deficit nor a trade surplus as both imports and exports amount to around *** billion U.S. dollars worth of goods. Canada is hoping this will continue, and it is looking to lower tariffs on exports in order to further boost the economy and increase exports. Canada has a long and strong trading relationship with the United States - Canada’s southern neighbor is without a doubt its most important export and import partner. Overall, Canada maintains an export advantage over the United States; maintaining greater export flows than import flows. The U.S. dollar is also worth more than the Canadian dollar, favoring further exports from Canada. China and Mexico also import Canadian goods, but significantly less than the United States.

Canada's total Exports in 2024 were valued at US$549.62 Billion, according to the United Nations COMTRADE database on international trade. Canada's main export partners were: the United States, China and the United Kingdom. The top three export commodities were: Mineral fuels, oils, distillation products; Vehicles other than railway, tramway and Machinery, nuclear reactors, boilers. Total Imports were valued at US$540.56 Billion. In 2024, Canada had a trade surplus of US$9.06 Billion.

Canada CA: Trade Balance: Other Countries Not Elsewhere Classified: Cuba data was reported at -119.860 USD mn in 2017. This records a decrease from the previous number of 8.935 USD mn for 2016. Canada CA: Trade Balance: Other Countries Not Elsewhere Classified: Cuba data is updated yearly, averaging 4.650 USD mn from Dec 1948 (Median) to 2017, with 70 observations. The data reached an all-time high of 245.000 USD mn in 1983 and a record low of -511.607 USD mn in 2007. Canada CA: Trade Balance: Other Countries Not Elsewhere Classified: Cuba data remains active status in CEIC and is reported by International Monetary Fund. The data is categorized under Global Database’s Canada – Table CA.IMF.DOT: Trade Balance: by Country: Annual.

Canada Trade Balance: NAPCS: BOP: sa: Japan data was reported at 175.200 CAD mn in Sep 2018. This records an increase from the previous number of -43.600 CAD mn for Aug 2018. Canada Trade Balance: NAPCS: BOP: sa: Japan data is updated monthly, averaging -4.900 CAD mn from Jan 1988 (Median) to Sep 2018, with 369 observations. The data reached an all-time high of 607.000 CAD mn in Jul 1996 and a record low of -338.400 CAD mn in Sep 2002. Canada Trade Balance: NAPCS: BOP: sa: Japan data remains active status in CEIC and is reported by Statistics Canada. The data is categorized under Global Database’s Canada – Table CA.JA002: Trade Balance: NAPCS 2007: Seasonally Adjusted (Discontinued). Changed from NAPCS 2007 to NAPCS 2017. Replacement series ID: 411686687

This table contains 56 series, with data for years 1988 - 2014 (not all combinations necessarily have data for all years). This table contains data described by the following dimensions (Not all combinations are available): Geography (1 items: Canada ...), Trade (2 items: Import;Export ...), Basis (2 items: Customs;Balance of payments ...), Seasonal adjustment (2 items: Unadjusted;Seasonally adjusted ...), Principal trading areas (7 items: Total of all merchandise;United States; including Puerto Rico and Virgin Islands;European Union excluding the United Kingdom;United Kingdom ...).

Canada: Trade balance as percent of GDP: The latest value from 2024 is -0.26 percent, a decline from 0.07 percent in 2023. In comparison, the world average is -3.07 percent, based on data from 134 countries. Historically, the average for Canada from 1961 to 2024 is 0.79 percent. The minimum value, -2.46 percent, was reached in 2015 while the maximum of 5.74 percent was recorded in 2001.

In 2022, Canada was the country with the highest trade surplus on forest products worldwide, at over ** billion Canadian dollars. China, on the other hand, was the country with the largest trade deficit on forest products, at more than ** billion Canadian dollars in 2022.

The timeline shows the total value of U.S. trade in goods (export and import) with Canada from 2004 to 2024. In 2024, the total value of U.S. trade in goods with Canada amounted to *** billion U.S. dollars; composed of ***** billion U.S. dollars in exports and ***** billion U.S. dollars in imports.

This table contains 20 series, with data for years 1981 - 2012 (not all combinations necessarily have data for all years). This table contains data described by the following dimensions (Not all combinations are available): Geography (1 items: Canada ...), Merchandise import and export sectors (20 items: Imports; total of all merchandise;Imports; Sector 1 Agricultural and fishing products;Imports; Sector 2 Energy products;Imports; Sector 3 Forestry products ...).

Merchandise imports, exports and trade balance, customs and balance of payments basis for all countries, by seasonal adjustment and principal trading partners

Canada: Trade balance, billion USD: The latest value from 2024 is -5.95 billion U.S. dollars, a decline from 1.36 billion U.S. dollars in 2023. In comparison, the world average is 4.90 billion U.S. dollars, based on data from 109 countries. Historically, the average for Canada from 1960 to 2024 is 2.3 billion U.S. dollars. The minimum value, -38.58 billion U.S. dollars, was reached in 2015 while the maximum of 45.68 billion U.S. dollars was recorded in 2005.

Historical dataset showing Canada trade balance by year from 1961 to 2023.

The interprovincial and international trade flows shows the origin and destination of trade flows by product among Canadian provinces and territories and from and to the rest of the world. The information is available at the Summary level of hierarchy of the Supply and Use Product Classification (SUPC).