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 ***** billion U.S. 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.

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.

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.

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 United States recorded a trade deficit of 71.52 USD Billion in May 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.

Canada CA: BOP: Current Account: Trade in Services: % of GDP data was reported at 14.326 % in 2023. This records an increase from the previous number of 13.252 % for 2022. Canada CA: BOP: Current Account: Trade in Services: % of GDP data is updated yearly, averaging 8.213 % from Dec 1960 (Median) to 2023, with 64 observations. The data reached an all-time high of 14.326 % in 2023 and a record low of 5.694 % in 1963. Canada CA: BOP: Current Account: Trade in Services: % of GDP data remains active status in CEIC and is reported by World Bank. The data is categorized under Global Database’s Canada – Table CA.World Bank.WDI: Balance of Payments: Current Account. Trade in services is the sum of service exports and imports divided by the value of GDP, all in current U.S. dollars.;International Monetary Fund, Balance of Payments Statistics Yearbook and data files, and World Bank and OECD GDP estimates.;Weighted average;Note: Data are based on the sixth edition of the IMF's Balance of Payments Manual (BPM6) and are only available from 2005 onwards.

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: Services: United States data was reported at -17,926.000 CAD mn in 2022. This records a decrease from the previous number of -3,674.000 CAD mn for 2021. Canada Trade Balance: Services: United States data is updated yearly, averaging -9,009.000 CAD mn from Dec 1990 (Median) to 2022, with 33 observations. The data reached an all-time high of -3,233.000 CAD mn in 2002 and a record low of -17,926.000 CAD mn in 2022. Canada Trade Balance: Services: United States data remains active status in CEIC and is reported by Statistics Canada. The data is categorized under Global Database’s Canada – Table CA.JA006: Trade Balance: Services: by Region.

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.

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)

Mexico trade balance for 2023 was -21.37 billion US dollars, a 50.07% decline from 2022.

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

<li>Mexico trade balance for 2022 was <strong>-42.80 billion US dollars</strong>, a <strong>68.36% increase</strong> from 2021.</li>
<li>Mexico trade balance for 2021 was <strong>-25.42 billion US dollars</strong>, a <strong>240.31% decline</strong> from 2020.</li>
<li>Mexico trade balance for 2020 was <strong>18.12 billion US dollars</strong>, a <strong>445.03% decline</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.

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.

Canada Exports to United States was US$434.88 Billion during 2024, according to the United Nations COMTRADE database on international trade. Canada Exports to United States - data, historical chart and statistics - was last updated on July of 2025.

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).

Canada Trade Balance: Services: Central America data was reported at -1,747.000 CAD mn in 2022. This records a decrease from the previous number of -432.000 CAD mn for 2021. Canada Trade Balance: Services: Central America data is updated yearly, averaging -542.000 CAD mn from Dec 1990 (Median) to 2022, with 33 observations. The data reached an all-time high of -73.000 CAD mn in 2002 and a record low of -2,730.000 CAD mn in 2015. Canada Trade Balance: Services: Central America data remains active status in CEIC and is reported by Statistics Canada. The data is categorized under Global Database’s Canada – Table CA.JA006: Trade Balance: Services: by Region.

Based on foreign trade balance, the United States was by far Mexico's main trading partner in 2023. That year, Mexico's exports of goods to the U.S. exceeded its imports by about *** billion U.S. dollars. Canada came in second, registering a trade value of around **** billion dollars.

In 2024, the United States traded close to ****** billion U.S. dollars’ worth of goods with their neighbor. That year, the U.S. imported more goods from Mexico than it exported, leading to a trade deficit, or negative trade balance. Mexico’s imports from the United States The majority of cosmetics and personal care imports to Mexico originated from the U.S., while other Latin American countries, such as Colombia and Brazil, contributed significantly less in terms of import value. When it comes to apparel items, the United States was also among the leading trade partners for Mexico, although far behind China, where Mexico imported nearly all of its clothes from. Leading product categories Mexico exports to the Unites States The United States is Mexico’s most important trading partner when it comes to the export of cosmetics and personal care products. Canada, as the only other non-Latin American country on the list, was also among the leading export destinations. Furthermore, the United States is the main destination country for Mexico’s apparel exports.

Abstract copyright UK Data Service and data collection copyright owner.

The OECD International Trade in Services provides annual data and is presented in the following tables:

Trade in services - EBOPS 2010
This dataset aims to assemble and disseminate balance of payments data on trade in services at the most detailed partner-country and service-category level available. To the extent that countries report them, data are also broken down by type of service according to the EBOPS classification. These data cover international trade in services between residents and non-residents of countries and are reported within the framework of the sixth edition of the IMF's Balance of Payments Manual and the Extended Balance of Payments Services Classification (EBOPS2010), which is consistent with the balance of payments classification but is more detailed. Statistics by partner country and service category on international trade in services such as transportation, communication services, financial services, government services are recorded for Australia and Chile from 1999 onwards and shown in US dollars.

Trade in services - EBOPS 2002
This dataset provides statistics on international trade in services by service category and partner country for 34 OECD countries plus the European Union (EU27), the euro area (EA17), the Russian Federation and Hong Kong, China as well as definitions and methodological notes. These data cover international trade in services between residents and non-residents of countries and are reported within the framework of the fifth edition of the IMF's Balance of Payments Manual and the Extended Balance of Payments Services Classification (EBOPS 2002), which is consistent with the balance of payments classification but is more detailed. To the extent that countries report them, data are also broken down by type of service according to the EBOPS classification. Series are shown in national currency, euros and US dollars and are recorded from 1970 onwards.

Trade in services: national classification items
This dataset contains additional national data on international trade in services for Australia, Canada, New Zealand, Turkey and the United States. The data are reported within the framework of the fifth and sixth editions of the IMF's Balance of Payments Manual and the Extended Balance of Payments Services Classification (EBOPS 2002 and EBOPS 2010), which is consistent with the balance of payments classification but is more detailed. Series are shown in US dollars and are recorded from 1970 onwards.

These data were first provided by the UK Data Service in November 2004.

Main Topics:

The database covers:

• trade in services
• financial services
• business services
• maintenance services
• insurance services
• travel services
• balance of payments
• imports
• exports