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June 07, 2022CANADA TRADE BALANCE, APRIL 2022 GOODS
In April 2022, Canada’s international trade surplus in goods was $1,501.3 million, narrowing from a surplus of $2,281.6 million in March 2022. Canada's international exports of goods increased 0.6% to $64,312.2 million while imports of goods increased 1.9% to 62,811.0 million. Export growth led by the gains in seafood products along with motor vehicles and parts. Rising imports were faster for clothing, metals and energy. The volume of imports declined 0.4% and the volume of exports decreased 2.1% in April 2022. This increase in the value of exports and imports was due to higher prices.
Canada’s goods trade surplus with the United States decreased from $12,220.7 million in March 2022 to $11,646.3 million in April 2022. Canada exported $50,410.2 million in goods to the US and imported $38,763.9 million in goods from the US. Compared to March 2022, Canada's exports to the US were up 2.1% while imports from the US were up by 4.4%.
Canada reported a deficit of $4,044.4 million in goods trade with China for April 2022. Canada's exports of goods to China fell to $2,015.0 million (-2.3%) in April. Canada's goods imports from China were down 15.3% to $6,059.5 million.
Canada's deficit in goods trade with the European Union was $2,605.8 million in April 2022. Compared to March 2022, Canada's exports to the European Union were down 7.0% to $2,731.8 million and imports from the European Union were down 2.6% to $5,337.6 million.
SERVICES
Canada’s services trade recorded a deficit of $1,317.0 million in April 2022, following a deficit of $796.0 million in March 2022. Services exports increased 1.6% from the previous month to $12,193.0 million in April 2022. Canada's services imports were up 5.5% to 13,510.0 million in April 2022.
GOODS AND SERVICES
Canada's overall trade surplus in goods and services was $184.3 million in April narrowing from a $1,485.6 million surplus in March 2022. Exports of goods and services were up 0.7% to $76,505.2 million while imports of goods and services increased 2.5% to $76,321.0 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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