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June 05, 2025CANADA TRADE BALANCE, APRIL 2025 Month-over-month (April 2025 vs March 2025)
In April 2025, Canada's international export of goods decreased 10.8% to $60.4 billion. Canada’s goods imports declined 3.5% to $67.6 billion. Canada's trade deficit in goods widened sharply (-$4.9 billion) to $7.1 billion - the largest goods trade deficit on record.
Exports have pulled back sharply from their pre-tariff spike earlier in 2025. Auto exports were subject to new US tariffs imposed in early April, resulting in a particularly sharp drop in goods shipments to the US. There were widespread declines in Canadian goods exports to the US including: energy, consumer goods, machinery/equipment, metals/non-metallic mineral products and forestry/building/packaging products. Canada's imports of goods also fell across most categories in April (notable exception: gold imports).
Canada's international exports of services fell by 0.5% from the previous month to $17.9 billion in April 2025. Canada's imports of services decreased by 1.1% to $18.3 billion. Canada's deficit in international service trade narrowed by $112 million to $340 million.
Canada’s international exports of goods and services declined 8.6% to $78.4 billion in April 2025. Canada's international imports of goods and services decreased 3.0% to $85.9 billion. Canada's overall international trade deficit widened by $4.78 billion to $7.48 billion in April 2025.
Significant changes in US tariff policy have led to a pre-tariff increase in Canadian goods exports to the US (building inventories of goods before tariffs take effect), followed by a sharp post-tariff decline. Retaliatory measures and changes in consumer preferences have also influenced Canadian imports of goods from the US. Export of goods to the United States from Canada declined 15.7% to $42.2 billion in April 2025 while imports of goods from the US decreased 10.8% to $38.6 billion. Canada's trade surplus in goods with the US narrowed by $3.2 billion to $3.6 billion in April 2025.
Canada's exports of goods to China increased 13.8% to $3.1 billion in April 2025. Canada's imports of goods from China rose 5.1% to $5.9 billion. Canada's deficit in goods trade with China narrowed slightly (-$85 million) to $2.8 billion.
In April 2025, Canada's exports of goods to the European Union fell by 8.6% to $3.3 billion. Canada's imports of goods from the EU rose 0.7% to $6.4 billion. Canada's deficit in goods trade with the EU widened by $355 million to $3.1 billion.
Year-over-year (April 2025 vs April 2024)
Compared with the same month in 2024:
- Canada's international exports of goods decreased 7.0% (-$4.6 billion) while Canada’s goods imports rose 3.3% (+$2.1 billion). As exports fell while imports grew, Canada's goods trade deficit widened by $6.7 billion.
- Canada's international exports of services were down 2.1% (-$393 million) while Canada's imports of services rose by 0.3% (+$63 million). Canada's services trade position deteriorated by $455 million, from a surplus of $115 million in April 2024 to a deficit of $340 million in April 2025.
- Canada’s combined international exports of goods and services decreased by 6.0% (-$5.0 billion) while imports of goods and services rose by 2.6% (+$2.2 billion). Canada's overall international trade deficit widened by $7.2 billion.
- Exports of goods from Canada to the United States decreased 14.2% (-$7.0 billion) while imports of goods from the US fell 5.9% (-$2.4 billion). Canada's trade surplus in goods with the US contracted by $4.6 billion.
- Canada's exports of goods to China increased 31.3% (+$738 million). Canada's imports of goods from China rose 12.0% (+$632 million). Canada's deficit in goods trade with China narrowed by $106 million.
- Canada's exports of goods to the European Union rose by 19.1% (+$528 million). Canada's imports of goods from the EU were up 8.4% (+$498 million). Canada's deficit in goods trade with the EU narrowed by $30 million.
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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