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August 05, 2021CANADA TRADE BALANCE, JUNE 2021 GOODS
In June 2021, Canada’s international trade balance in goods returned to a surplus of $3,230.8 million following a deficit of $1,576.3 million in May. Canada international exports of goods rose by 8.7% to a record $53,762 million and imports of goods declined 1.0% to $50,531 million. The significant rise in exports this month reflects increased exports of energy products (mainly increased volume of crude oil exports), motor vehicles and parts and metal and non-metallic mineral products.
Canada’s goods trade surplus with the United States was $8,332 million in June, up from a $5,902 million in the previous month. When compared to June 2020, Canada’s good exports to the US were up 34.5% and goods imports from the US were up 18.0%.
In June 2021, Canada’s goods trade deficit with the European Union was $2,101 million, slightly wider than the $2,092 million deficit reported in May. Canada’s goods exports to the EU declined 31.1% year-over-year in June and goods imports from the EU were down 2.2% from a year earlier. It should be noted that United Kingdom data is included as part of the European Union only through December 2020.
Canada’s trade deficit with China was $1,492 million in June, reflecting a decline of $708 million from a deficit of $2,200 million reported in May. When compared to June 2020, Canada’s goods exports to China were up 11.9% while goods imports from China declined 1.3%.
SERVICES
Canada’s services trade (balance of payment basis, seasonally adjusted) recorded a deficit of $740 million in June 2021, following a deficit of $412 million in May. Services imports were up 3.5% month-over-month to $10,002 million while services exports were up 0.1% to $9,262 million in June.
When compared to June 2020, Canada’s exports of services increased 1.9% while imports of services were up 9.9%.
GOODS & SERVICES
Canada’s overall trade balance returned to a surplus of $2,491 million in June 2021, after recording a deficit of $1,988 million in May. Imports of goods and services declined 0.2% to $60,533 million from the previous month while exports of goods and services rose 7.4% to $63,024 million.
When compared to June 2020, Canada’s goods and services exports rose 24.9% and imports rose 16.3%.
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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