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.

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

CEIC calculates monthly Trade Balance from monthly Total Exports and monthly Total Imports. Statistics Canada provides Total Exports and Total Imports in local currency. Federal Reserve Board average market exchange rate is used for currency conversions.

Further information about Canada's Trade Balance

• 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)

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.

Graph and download economic data for International Merchandise Trade Statistics: Trade Balance: Commodities for Canada (XTNTVA01CAM667S) from Jan 1957 to Dec 2024 about Canada, trade, Net, and goods.

As of 2024, the United States had a trade deficit of about 918 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.

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

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).

In 2024, Canada's trade deficit with China amounted to around 57.9 billion Canadian dollars, a slight decrease from around 58.7 billion Canadian dollars in the previous year. In 2024, Canada imported around 87.6 billion Canadian dollar-worth of goods from China and exported only 29.8 billion Canadian dollar-worth of merchandise.

CA: Trade Balance: USD: All Services: Telecommunications, Computer, And Information Services data was reported at 8.531 USD bn in 2023. This records an increase from the previous number of 8.483 USD bn for 2022. CA: Trade Balance: USD: All Services: Telecommunications, Computer, And Information Services data is updated yearly, averaging 1.727 USD bn from Dec 1981 (Median) to 2023, with 43 observations. The data reached an all-time high of 8.531 USD bn in 2023 and a record low of -42.700 USD mn in 1981. CA: Trade Balance: USD: All Services: Telecommunications, Computer, And Information Services data remains active status in CEIC and is reported by Organisation for Economic Co-operation and Development. The data is categorized under Global Database’s Canada – Table CA.OECD.TISP: Trade in Services: Trade Balance: USD: by Services: OECD Member: Annual. MSITS 2010 recommends that the BPM6 component telecommunications, computer, and information services be further disaggregated into three sub-components: telecommunications services, computer services and information services.Computer services and telecommunications services are defined in terms of the nature of the service, not the method of delivery. To illustrate, provision of business services, such as accounting services, is included under the appropriate sub-component of other business services even if these services are entirely delivered by computers or the Internet. Only amounts payable for transmission should be included under telecommunications services. Downloaded content is included in the appropriate services items.Telecommunications services covers the broadcast or transmission of sound, images, data, or other information by telephone, telex, telegram, radio and television cable transmission, radio and television satellite, electronic mail, facsimile, etc., and includes business network services, teleconferencing and support services. It does not include the value of the information transported. Also included are mobile telecommunications services, Internet backbone services and online access services, including the provision of access to the Internet. Excluded are installation services for telephone network equipment (included in construction), and database services (included in information services).Computer services consists of hardware- and software-related services and dataprocessing services. Some forms of software are classified under goods. EBOPS 2010 proposes a complementary grouping, computer software transactions, covering all transactions relating to computer software, be it services or goods transactions; and recommends the breakdown of computer services into computer software and other computer services.

The Canada Energy Regulator (CER) and Statistics Canada have combined expertise to put together a 30-year look back at the evolution of Canadian crude oil exports. This retrospective highlights some of the factors that influenced the trends in Canadian crude oil exports, coupled with other key indicators, including impacts on Canadian balance of trade, crude oil production, and industry investment. These datasets provide historical Canadian crude oil production, export and import values, investment, trade balance and export values for products categorized by NAPCS Group Codefor 1991 to 2019. These data were compiled by the Canada Energy Regulator and Statistics Canada.

This dataset provides values for BALANCE OF TRADE reported in several countries. The data includes current values, previous releases, historical highs and record lows, release frequency, reported unit and currency.

In 2023, the United States had the largest trade surplus for critical minerals in Canada, at a surplus of over 21 billion Canadian dollars. In comparison, that year, Finland had the largest trade deficit for critical minerals in Canada, at 117 million Canadian dollars.

Graph and download economic data for International Merchandise Trade Statistics: Trade Balance: Commodities for Canada (XTNTVA01CAQ664N) from Q1 1955 to Q1 2025 about Canada, trade, Net, and goods.

The statistic shows the trade balance of goods (exports minus imports of goods) in Canada from 2013 to 2023. A positive value means a trade surplus, a negative trade balance means a trade deficit. In 2023, the trade deficit of goods in Canada amounted to about 1.55 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 475 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 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.

CA: Trade Balance: USD: All Services: Personal, Cultural, And Recreational Services data was reported at 1.330 USD bn in 2023. This records a decrease from the previous number of 1.431 USD bn for 2022. CA: Trade Balance: USD: All Services: Personal, Cultural, And Recreational Services data is updated yearly, averaging 0.000 USD mn from Dec 1969 (Median) to 2023, with 55 observations. The data reached an all-time high of 1.542 USD bn in 2021 and a record low of -315.400 USD mn in 1990. CA: Trade Balance: USD: All Services: Personal, Cultural, And Recreational Services data remains active status in CEIC and is reported by Organisation for Economic Co-operation and Development. The data is categorized under Global Database’s Canada – Table CA.OECD.TISP: Trade in Services: Trade Balance: USD: by Services: OECD Member: Annual. Personal, cultural, and recreational services comprises two sub-components, audiovisual and related services and other personal, cultural, and recreational services. Audio-visual and related services covers services associated with audio-visual activities (movies, music, radio and television) as well as services relating to the performing arts. Audio-visual services relates to the production of motion pictures (on film, videotape, or disk or transmitted electronically), radio and television programmes (live or on tape) and musical recordings. Performing arts and other live entertainment event presentation and promotion services (namely, live performances such as concerts and plays) are excluded from this item and included in artistic related services. However, the recording of live performances is included in audio-visual services and for these recordings, the same treatment as for other audio-visual products applies. Included in audio-visual services are amounts receivable or payable for rentals of audio-visual and related products and charges for access to encrypted television channels (such as those offering cable and satellite services).Artistic related services includes the services provided by performing artists (actors, musicians, dancers, etc.), authors, composers and sculptors. It also includes services provided by independent models as well as set, costume and lighting designers. Transactions are included if the service providers are not employees of the entity making payments (otherwise, they represent compensation of employees). Also included are presentation and promotion services for performing arts and other live entertainment events. However, the recording of such events is included in audio-visual services.

U.S. trade balance for 2023 was -797.34 billion US dollars, a 16.85% decline from 2022.

<ul style='margin-top:20px;'>

<li>U.S. trade balance for 2022 was <strong>-958.94 billion US dollars</strong>, a <strong>11.5% increase</strong> from 2021.</li>
<li>U.S. trade balance for 2021 was <strong>-860.03 billion US dollars</strong>, a <strong>37.34% increase</strong> from 2020.</li>
<li>U.S. trade balance for 2020 was <strong>-626.20 billion US dollars</strong>, a <strong>8.47% increase</strong> from 2019.</li>
</ul>External balance on goods and services (formerly resource balance) equals exports of goods and services minus imports of goods and services (previously nonfactor services). Data are in current U.S. dollars.

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, and are on a Customs and Balance of Payments basis.

Canada's total Exports in 2024 were valued at US$568.23 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$554.12 Billion. In 2024, Canada had a trade surplus of US$14.12 Billion.

Annual data on Canadian international merchandise trade by province, trading partners and products on a customs basis. Trade data for 255 trading partners are included with an all country aggregate. Product data are presented using the North American Product Classification System at the section level.

CA: Trade Balance: USD: All Services: Charges For The Use Of Intellectual Property N.I.E data was reported at -8.416 USD bn in 2023. This records an increase from the previous number of -8.600 USD bn for 2022. CA: Trade Balance: USD: All Services: Charges For The Use Of Intellectual Property N.I.E data is updated yearly, averaging -1.243 USD bn from Dec 1969 (Median) to 2023, with 55 observations. The data reached an all-time high of 0.000 USD mn in 1980 and a record low of -8.600 USD bn in 2022. CA: Trade Balance: USD: All Services: Charges For The Use Of Intellectual Property N.I.E data remains active status in CEIC and is reported by Organisation for Economic Co-operation and Development. The data is categorized under Global Database’s Canada – Table CA.OECD.TISP: Trade in Services: Trade Balance: USD: by Services: OECD Member: Annual. The present section covers intellectual property products that are not included elsewhere in EBOPS 2010. Charges for the use of intellectual property n.i.e. include: Charges for the use of proprietary rights, such as patents, trademarks, copyrights, industrial processes and designs, trade secrets, and franchises, where rights arise from research and development, as well as from marketing, Charges for licences to reproduce and/or distribute intellectual property embodied in produced originals or prototypes, such as copyrights on books and manuscripts, computer software, cinematographic works and sound recordings, and related rights, such as for the recording of live performances and for television, cable or satellite broadcast. The production of books, recordings, films, software, disks, etc., is a two-stage process, of which the first stage is the production of the original and the second stage, the production and use of copies of the original. The output of the first stage is the original itself over which legal or de facto ownership can be established by copyright, patent or secrecy. The owner of the asset may use it directly to produce copies that give the purchaser the right to use. Alternatively, the owner may license other producers to reproduce and distribute the content. The payments made by the licensee may be described in various ways, including as fees, commissions or royalties. In contrast with temporary rights to use, which are included in this category, outright sales of patents, copyrights relating to the results of research and development and industrial processes and designs are included under research and development services. Along the same lines, temporary rights related to computer software and audio-visual originals are treated differently from outright sales.