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.

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)

This graph shows the trade balance for services in Canada in 2021, distinguished by selected countries. In 2021, the Canadian deficit in international transactions in services with the United States amounted to almost five billion Canadian dollars.

Canada trade balance for 2023 was -9.72 billion US dollars, a 442.91% decline from 2022.

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

<li>Canada trade balance for 2022 was <strong>2.84 billion US dollars</strong>, a <strong>1553.86% increase</strong> from 2021.</li>
<li>Canada trade balance for 2021 was <strong>171.47 million US dollars</strong>, a <strong>100.47% decline</strong> from 2020.</li>
<li>Canada trade balance for 2020 was <strong>-36.58 billion US dollars</strong>, a <strong>43.1% 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.

Graph and download economic data for International Merchandise Trade Statistics: Trade Balance: Commodities for Canada (XTNTVA01CAM664S) from Jan 1955 to Apr 2025 about Canada, trade, Net, and goods.

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.

Canada recorded a trade deficit of 5900 CAD Million in May 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.

CA: Trade Balance: Services: China data was reported at 4,019.000 CAD mn in 2023. This records an increase from the previous number of 2,659.000 CAD mn for 2022. CA: Trade Balance: Services: China data is updated yearly, averaging 398.000 CAD mn from Dec 1990 (Median) to 2023, with 34 observations. The data reached an all-time high of 4,943.000 CAD mn in 2019 and a record low of 89.000 CAD mn in 1996. CA: Trade Balance: Services: China 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: by Country: OECD Member: Annual.

Canada's total Exports in 2024 were valued at US$569.17 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$558.45 Billion. In 2024, Canada had a trade surplus of US$10.72 Billion.

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.

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 **** 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.

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.

CA: Trade Balance: Services: Honduras data was reported at 20.000 CAD mn in 2023. This records a decrease from the previous number of 31.000 CAD mn for 2022. CA: Trade Balance: Services: Honduras data is updated yearly, averaging 6.500 CAD mn from Dec 1990 (Median) to 2023, with 34 observations. The data reached an all-time high of 31.000 CAD mn in 2022 and a record low of -10.000 CAD mn in 2019. CA: Trade Balance: Services: Honduras 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: by Country: OECD Member: Annual.

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.

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 services (exports minus imports of services) 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 services in Canada amounted to about 11.68 billion U.S. dollars.

The United States had the largest mineral trade balance with Canada as of 2023, amounting to nearly 26.6 billion Canadian dollars. The United Kingdom had the second-largest mineral trade balance with Canada that year, at 22.7 billion Canadian dollars.

CA: Trade Balance: Emerging and Developing Economies: Europe: CIS data was reported at -389.809 USD mn in Mar 2018. This records a decrease from the previous number of -370.202 USD mn for Dec 2017. CA: Trade Balance: Emerging and Developing Economies: Europe: CIS data is updated quarterly, averaging 1.100 USD mn from Mar 1960 (Median) to Mar 2018, with 233 observations. The data reached an all-time high of 767.800 USD mn in Sep 1984 and a record low of -1.388 USD bn in Sep 2009. CA: Trade Balance: Emerging and Developing Economies: Europe: CIS 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: Quarterly.

CA: Trade Balance: Emerging and Developing Economies: Emerging and Developing Asia: Fiji data was reported at 3.490 USD mn in 2017. This records a decrease from the previous number of 4.079 USD mn for 2016. CA: Trade Balance: Emerging and Developing Economies: Emerging and Developing Asia: Fiji data is updated yearly, averaging -3.000 USD mn from Dec 1951 (Median) to 2017, with 61 observations. The data reached an all-time high of 14.323 USD mn in 2015 and a record low of -25.100 USD mn in 1980. CA: Trade Balance: Emerging and Developing Economies: Emerging and Developing Asia: Fiji 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.

CA: Trade Balance: Emerging and Developing Economies: Emerging and Developing Asia: India data was reported at -550.637 USD mn in Mar 2018. This records a decrease from the previous number of -278.544 USD mn for Dec 2017. CA: Trade Balance: Emerging and Developing Economies: Emerging and Developing Asia: India data is updated quarterly, averaging 5.000 USD mn from Mar 1960 (Median) to Mar 2018, with 233 observations. The data reached an all-time high of 292.068 USD mn in Sep 2015 and a record low of -550.637 USD mn in Mar 2018. CA: Trade Balance: Emerging and Developing Economies: Emerging and Developing Asia: India 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: Quarterly.