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Trade balance of goods in Canada 2019

The statistic shows the trade balance of goods (exports minus imports of goods) in Canada from 2009 to 2019. A positive value means a trade surplus, a negative trade balance means a trade deficit. In 2019, the trade deficit of goods in Canada amounted to about 16.79 billion U.S. dollars.

Trade with Canada

Canada reported a trade surplus until 2009 when the country’s trade balance went negative for the first time in recent history. Its deficit was ignited at the height of the global recession, and the value of exports decreased significantly at that time. It is only now showing signs of a recovery. Meanwhile, while imports decreased during the recession as well, they bounced back faster than exports. Currently, Canada maintains neither a trade deficit nor a trade surplus as both imports and exports amount to around 475 billion U.S. dollars worth of goods. Canada is hoping this will continue and it is looking to lower tariffs on exports in order to further boost the economy and increase exports.

Canada has long and strong trading relationship with the United States - Canada’s southern neighbor is without a doubt its most important export and import partner. Overall Canada maintains an export advantage over the United States; maintaining greater export flows than import flows. The U.S. dollar is also worth more than the Canadian dollar, favoring further exports from Canada. China and Mexico also import Canadian goods, but significantly less than the United States.

Canada: Trade balance of goods from 2009 to 2019

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Sources

Release date

December 2020

Region

Canada

Survey time period

2009 to 2019

Supplementary notes

This statistic has been calculated by Statista using data from the World Trade Organization. The trade balance is the value of goods exports minus the value of goods imported. A positive value indicates a trade surplus, a negative value a trade deficit.

Values have been rounded to provide a better understanding of the statistic.

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Statistics on "Canada"

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