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May 04, 2021CANADA TRADE BALANCE, MARCH 2021 GOODS
In March 2021, Canada international trade balance in goods returned to a deficit of $1,140.2 million following two months of posting a trade surplus. Canada international exports of goods increased by 0.3% to $50,617.6 million and imports of goods increased by 5.5% to $51,757.8 million.
Canada’s goods trade surplus with the United States was $4,280.6 million in March 2021, down $3.0 billion from a surplus of $7,319.9 million in February. When compared to March 2020, Canada’s goods exports to the US were up 15.5% while goods imports from the US were up 4.8%.
In March 2021, Canada’s goods trade deficit with the European Union was $1,621.0 million, narrowing $672.6 million from a deficit of $2,293.6 million reported in February. Canada’s goods exports to the EU in March were down 36.0% from March 2020 while goods imports from the EU declined 20.2%.
Canada’s goods trade deficit with China was $3,095.0 million in March 2021, widening $1,079.8 million from a deficit of $2,015.2 million reported in February. When compared to March 2020, Canada’s goods exports to China increased 46.2% while goods imports from China were up 84.9%.
SERVICES
Canada’s services trade (balance of payment basis, seasonally adjusted) recorded a surplus of $143.0 million in March 2021. This follows a surplus of $75.0 million recorded in February. Services imports were up 0.4% to $9,148.0 million and services exports were up 1.2% to $9,291.0 million.
When compared to March 2020, Canada’s exports of services were down 9.2% while imports of services were down 26.5%.
GOODS & SERVICES
Canada’s overall trade balance reported a deficit of $997.2 million in March 2021, recording a decline of $2,493.0 million from a $1,495.8 million surplus reported in February. Imports of goods and services declined 4.7% to $60,905.8 million from the previous month. Exports of goods and services were up 0.4% month-over-month to $59,908.6 million.
Compared to March 2020, Canada’s exports of goods and services were up 10.0% while imports of goods and services declined 0.4%.
Source: Statistics Canada
Table 12-10-0011-01 International merchandise trade for all countries and by Principal Trading Partners, monthly (x 1,000,000)
Table 12-10-0121-01 International merchandise trade by commodity, monthly (x 1,000,000)
Table 12-10-0144-01 International trade in services, monthly (x 1,000,000)
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