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October 05, 2022CANADA TRADE BALANCE, AUGUST 2022 GOODS
In August 2022, international export of goods declined to $65.4 billion (-2.9%) from July 2022. Canada’s imports also declined in August to $63.9 billion (-1.7%). The international trade surplus declined by $853.7 million coming to $1,519 million in August.
Export of goods to the United States from Canada in August 2022 decreased to $50.5 billion (-3.3%) and imports fell to $39.7 billion (-2.5%). Trade surplus of goods to declined by $68.6 million to $10.7 billion in August 2022.
Trade of goods with China increased in August 2022. Imports from China rose to $6.2 billion (6.8%) from July 2022 and exports grew to $2.4 billion (9.4%). Trade deficit with China increased by $187.1 million to $3,806.3 million in August 2022.
In August, Canada’s import of goods to European Union increased by $36.3 million (0.6%) to $5.9 billion. Exports to European Union increased by $493.1 million (17.5%) to $3.3 billion. The trade deficit decreased by $456.8 million to $2,576.3 million.
SERVICES
The Canadian international trade export of services increased (0.3%) to $12.6 billion in August 2022. Imports of services during the same month increased (2.1%) to $14.5 billion. The service trade deficit further increased by $255 million to $1,888 million.
GOODS AND SERVICES
Canada’s international import of goods and services decreased (-1.0%) to $78.4 billion. Exports of goods and services decreased (-2.4%) to $78.0 billion. The trade balance went into a deficit of $369 million in August 2022 from a surplus of $739.7 million in July 2022.
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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