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October 07, 2025CANADA TRADE BALANCE, AUGUST 2025 Month-over-month (August 2025 vs July 2025)
In August 2025, Canada's international exports of goods decreased 3.0% to $60.6 billion. Canada’s goods imports increased 0.9% to $66.9 billion. Canada's trade deficit in goods widened from a revised $3.8 billion in July to $6.3 billion in August.
Exports were down for eight of eleven product sections, led by exports of metal and non-metallic minerals, primarily due to a large drop in exports of unwrought gold to the United States. Imports were up in five of eleven product sections in August, led by increased imports of unwrought gold. Excluding metal and non-metallic minerals, total imports declined 1.0% in August.
In real (or volume) terms, exports were down 2.8% and imports fell 0.3% in August.
Canada's international exports of services declined 0.2% from the previous month to $18.7 billion in August 2025. Canada's imports of services edged down 0.01% to $18.4 billion. Canada's services trade surplus narrowed by $36 million to $340 million in August.
Canada’s international exports of goods and services fell 2.3% to $79.3 billion in August 2025. Canada's international imports of goods and services increased 0.7% to $85.3 billion. Canada's overall international trade deficit widened by $2.5 billion to $6.0 billion in August 2025.
Significant changes in US tariff policy 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 during this period. Exports of goods to the United States from Canada decreased 3.4% to $44.2 billion in August 2025 while imports of goods from the US decreased 1.4% to $37.8 billion. Canada's trade surplus in goods with the US narrowed by $982.9 million to $6.4 billion in August 2025.
Canada's exports of goods to China decreased 4.3% to $2.6 billion in August 2025. Canada's imports of goods from China fell 3.0% to $5.4 billion. Canada's deficit in goods trade with China narrowed by $53.4 million to $2.8 billion.
In August 2025, Canada's exports of goods to the European Union fell 4.5% to $3.1 billion. Canada's imports of goods from the EU rose 9.3% to $6.9 billion. Canada's deficit in goods trade with the EU widened by $736.4 million to $3.8 billion.
Year-over-year (August 2025 vs August 2024)
Compared with the same month in 2024:
- Canada's international exports of goods decreased 5.5% (-$3.5 billion) while Canada’s goods imports rose 1.7% (+$1.1 billion). As exports fell while imports grew, Canada's goods trade deficit widened by $4.6 billion.
- Canada's international exports of services were up 3.5% (+$633.0 million) while Canada's imports of services fell by 0.3% (-$62.0 million). With a larger increase in exports than imports, Canada's services trade deficit of $355.0 million in August 2024 changed to a surplus of $340.0 million
- Canada’s combined international exports of goods and services decreased by 3.5% (-$2.9 billion) while imports of goods and services rose by 1.2% (+$1.05 billion). Canada's overall international trade deficit widened by $3.9 billion.
- Exports of goods from Canada to the United States decreased 8.0% (-$3.8 billion) while imports of goods from the US fell 6.6% (-$2.7 billion). Canada's trade surplus in goods with the US contracted by $1.2 billion.
- Canada's exports of goods to China fell 3.4% (-$91.9 million). Canada's imports of goods from China rose 5.6% (+$290.9 million). Canada's deficit in goods trade with China widened by $382.8 million.
- Canada's exports of goods to the European Union rose by 14.2% (+$390.1 million). Canada's imports of goods from the EU rose by 11.1% (+$691.2 million). Canada's deficit in goods trade with the EU widened by $301.1 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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