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January 05, 2023CANADA TRADE BALANCE, NOVEMBER 2022 GOODS
In November 2022, Canada's international export of goods decreased to $64.4 billion (-2.3% from October 2022). Canada’s goods imports also decreased (-2.1%) in November to $64.4 billion. The international trade surplus in goods shrunk by $171.1 million from October to November, falling to $41.0 million.
Export of goods to the United States from Canada in November 2022 decreased 2.6% to $48.2 billion while imports of goods from the US edged down 0.1% to $40.9 billion. Canada's trade surplus in goods with the US shrunk by $1,279.4 million to $7.3 billion in November 2022.
Canada's exports of goods to China decreased 7.7% to $3.1 billion in November. Canada's imports of goods from China fell 8.4% to $5.3 billion. Canada's deficit in goods trade with China narrowed by $226.8 million to $2.2 billion.
In November, Canada's exports of goods to the European Union decreased by 0.1% to $3.2 billion. Canada's imports of goods from the EU were down 14.6% to $5.4 billion. Canada's deficit in goods trade with the EU shrunk by $921.8 million to $2.2 billion.
SERVICES
Canada's international exports of services increased 2.0% to $14.1 billion in November. Canada's imports of services during the same month decreased 2.3% to $15.5 billion. Canada's deficit in international service trade shrunk by $641 million to $1.4 billion.
GOODS AND SERVICES
Canada’s international exports of goods and services decreased 1.6% to $78.5 billion in November. Canada's international imports of goods and services fell by 2.1% to $79.9 billion. Canada's overall international trade balance in goods and services narrowed by $469.9 million to $1.5 billion.
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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