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.

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)

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.

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 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.

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.

The statistic shows the trade balance of services (exports minus imports of services) 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 services in Canada amounted to about **** billion U.S. dollars.

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.

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

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

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.

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).

Key information about Canada Total Exports

• Canada Total Exports dropped 5.5 % YoY in Aug 2025, compared with a decrease of 3.9 % YoY in the previous month
• Canada Total Exports Growth data is updated monthly, available from Jan 1989 to Aug 2025, with an averaged rate of 8.8 %
• The data reached an all-time high of 57.7 % in Apr 2021 and a record low of -37.6 % in Apr 2020

CEIC calculates Total Exports Growth from monthly Total Exports. Statistics Canada provides Total Exports, FOB, in local currency.


Further information about Canada Total Exports

• In the latest reports, Canada Total Exports recorded 43.9 USD bn in Aug 2025
• Total Imports recorded 48.5 USD bn in Aug 2025, which registered an increase of 1.7 % year on year
• Canada Trade Balance recorded a deficit of 4.6 USD bn in Aug 2025

Key information about Canada Total Imports Growth

• Canada Total Imports grew 1.7 % YoY in Aug 2025, compared with a decrease of 1.5 % YoY in the previous month
• Canada Total Imports Growth data is updated monthly, available from Jan 1989 to Aug 2025, with an averaged rate of 4.5 %
• The data reached an all-time high of 43.3 % in May 2021 and a record low of -31.7 % in May 2020

CEIC calculates Total Imports Growth from monthly Total Imports. Statistics Canada provides Total Imports, FOB, in local currency.


Further information about Canada Total Imports Growth

• In the latest reports, Canada Total Imports recorded 48.5 USD bn in Aug 2025
• Total Exports reached 43.9 USD bn in Aug 2025, which registered a decrease of 5.5 % year on year
• Canada Trade Balance recorded a deficit of 4.6 USD bn in Aug 2025

Canada recorded a Current Account deficit of 9680 CAD Million in the third quarter of 2025. This dataset provides - Canada Current Account - actual values, historical data, forecast, chart, statistics, economic calendar and news.

Key information about Canada Total Imports

• Canada Total Imports recorded 48.5 USD bn in Aug 2025, compared with a value of 48.4 USD bn in the previous month
• Canada Total Imports data is updated monthly, available from Jan 1988 to Aug 2025, with an average number of 29.9 USD bn
• The data reached an all-time high of 51.6 USD bn in Jun 2022 and a record low of 8.4 USD bn in Feb 1988

CEIC converts monthly Total Imports into USD. Statistics Canada provides Total Imports, FOB, in local currency. Federal Reserve Board average market exchange rate is used for currency conversions.


Further information about Canada Total Imports

• In the latest reports, Canada Total Imports grew 1.7 % YoY in Aug 2025
• Total Exports dropped 5.5 % YoY, to 43.9 USD bn in Aug 2025
• Canada Trade Balance recorded a deficit of 4.6 USD bn in Aug 2025

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.

Key information about Canada Total Exports

• Canada Total Exports recorded 43.9 USD bn in Aug 2025, compared with 45.6 USD bn in the previous month
• Canada Total Exports data is updated monthly, available from Jan 1988 to Aug 2025, with an averaged value of 32.4 USD bn
• The data reached an all-time high of 55.7 USD bn in May 2022 and a record low of 8.9 USD bn in Jan 1988

CEIC converts monthly Total Exports into USD. Statistics Canada provides Total Exports, FOB, in local currency. Federal Reserve Board average market exchange rate is used for currency conversion.


Further information about Canada Total Exports

• In the latest reports, Canada Total Exports dropped 5.5 % YoY in Aug 2025
• Total Imports recorded 48.5 USD bn in Aug 2025, which registered an increase of 1.7 % year on year
• Canada Trade Balance recorded a deficit of 4.6 USD bn in Aug 2025

This statistic displays the Canadian pharmaceutical trade balance from 2004 to 2024. In 2024, the industry reported a trade deficit of some *** billion Canadian dollars. However, this was the lowest deficit within the whole provided period. The pharmaceutical industry in Canada both develops and manufactures brand name and generic pharmaceuticals.

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.