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April 05, 2022CANADA TRADE BALANCE, FEBRUARY 2022 GOODS
In February 2022, Canada’s international trade surplus in goods was $2,662.6 million after a surplus of $3,121.9 million in January 2022. Canada's international exports of goods increased 2.8% to $58,745.9 million while imports of goods increased 3.9% to $56,083.3 million. Exports increased in 8 of 11 product sections led by the gains in exports of energy products.
Canada’s goods trade surplus with the United States increased from $9,730.8 million in January 2022 to $10,322.5 million in February 2022. This was the largest trade surplus with the United States since December 2005. Canada exported $44,771.1 million in goods to the US and imported $34,448.5 million in goods from the US. Compared to January 2022, Canada's exports to the US were up 1.3% while imports from the US fell by 0.1%.
Canada reported a deficit of $3,375.7 million in goods trade with China for February 2022. Canada's exports of goods to China rose to $2,238.0 million (5.8%) in February. Canada's goods imports from China were up 26.9% to $5,613.7 million.
Canada's deficit in goods trade with the EU was $2,130.2 million in February 2022. Compared to January 2022, Canada's exports to the EU were up 7.7% to $2,759.3 million and imports from the EU were up 2.6% to $4,889.6 million.
SERVICES
Canada’s services trade recorded a deficit of $317.0 million in February 2022, following a deficit of $628.0 million in January. Services exports increased 2.8% from the previous month to $11,628.0 million in February. Canada's services imports were up 0.1% to $11,945.0 million in February.
GOODS AND SERVICES
Canada's overall trade surplus in goods and services was $2,345.6 million in February following a $2,493.9 million surplus in January 2022. Exports of goods and services were up 2.8% to $70,373.9 million while imports of goods and services increased 3.2% to $68,028.3 million.
Note: all data are reported on a seasonally adjusted balance of payments basis.
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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