The Economics and Statistics Division maintains archives of previous publications for accountability purposes, but makes no updates to keep these documents current with the latest data revisions from Statistics Canada. As a result, information in older documents may not be accurate. Please exercise caution when referring to older documents. For the latest information and historical data, please contact the individual listed to the right.
<--- Return to Archive
For additional information relating to this article, please contact:
July 03, 2025CANADA TRADE BALANCE, MAY 2025 Month-over-month (May 2025 vs April 2025)
In May 2025, Canada's international export of goods increased 1.1% to $60.8 billion. Canada’s goods imports declined 1.6% to $66.7 billion. Canada's trade deficit in goods narrowed from a record $7.6 billion in April to $5.9 billion in May.
Exports of goods increased for the first time in four months, as monthly declines from February-April coincided with the implementation of tariffs on imports of Canadian goods in the United States. Exports were up for seven or eleven product sections, led by exports of metal and non-metallic mineral products, due to higher exports of unwrought gold. Canada's imports of goods posted a third consecutive monthly decline with declines in five of eleven product sections, led by metal and non-metallic mineral products.
In real (or volume) terms, exports were up 0.7% and imports declined 0.6% in May.
Canada's international exports of services fell by 0.2% from the previous month to $17.9 billion in May 2025. Canada's imports of services rose by 1.8% to $18.6 billion. Canada's deficit in international service trade widened by $374 million to $761 million.
Canada’s international exports of goods and services rose 0.8% to $78.7 billion in May 2025. Canada's international imports of goods and services decreased 0.8% to $85.3 billion. Canada's overall international trade deficit narrowed by $1.4 billion to $6.6 billion in May 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 0.9% to $41.5 billion in May 2025 while imports of goods from the US decreased 1.2% to $38.3 billion. Canada's trade surplus in goods with the US widened by $117 million to $3.2 billion in May 2025.
Canada's exports of goods to China increased declined 21.3% to $2.4 billion in May 2025. Canada's imports of goods from China rose 3.0% to $6.1 billion. Canada's deficit in goods trade with China widened by $830 million to $3.7 billion.
In May 2025, Canada's exports of goods to the European Union rose 6.7% to $3.5 billion. Canada's imports of goods from the EU rose 0.5% to $6.4 billion. Canada's deficit in goods trade with the EU narrowed by $190 million to $2.9 billion.
Year-over-year (May 2025 vs May2024)
Compared with the same month in 2024:
- Canada's international exports of goods decreased 3.2% (-$2.0 billion) while Canada’s goods imports rose 3.2% (+$2.1 billion). As exports fell while imports grew, Canada's goods trade deficit widened by $4.1 billion.
- Canada's international exports of services were down 1.5% (-$264 million) while Canada's imports of services rose by 3.7% (+$671 million). Canada's services trade position deteriorated by $936 million, from a surplus of $175 million in May 2024 to a deficit of $761 million in May 2025.
- Canada’s combined international exports of goods and services decreased by 2.8% (-$2.3 billion) while imports of goods and services rose by 3.3% (+$2.7 billion). Canada's overall international trade deficit widened by $5.0 billion.
- Exports of goods from Canada to the United States decreased 15.7% (-$7.7 billion) while imports of goods from the US fell 5.3% (-$2.2 billion). Canada's trade surplus in goods with the US contracted by $5.6 billion.
- Canada's exports of goods to China declined 2.1% (-$50.5 million). Canada's imports of goods from China rose 19.0% (+$979 million). Canada's deficit in goods trade with China widened by $1.0 billion.
- Canada's exports of goods to the European Union rose by 56.0% (+$1.3 billion). Canada's imports of goods from the EU were up 10.5% (+$609 million). Canada's deficit in goods trade with the EU narrowed by $659 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)
<--- Return to Archive
