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May 05, 2026CANADA TRADE BALANCE, MARCH 2026 Month-over-month (March 2026 vs February 2026)
In March 2026, Canada's international exports of goods rose 8.5% to $72.8 billion. Canada’s goods imports were down 1.6% to $71.0 billion. Canada's goods trade position improved by $6.9 billion, moving from a deficit of $5.1 billion in February to a $1.8 billion surplus in March.
Exports rose in seven of eleven product sections, led by higher exports of non-metallic and metal mineral products and energy products. Exports of non-metallic and metal minerals were up on higher exports of gold to the United Kingdom, despite lower gold prices in March. Energy products were up due to higher than expected crude oil prices arising from the conflict in Iran in March.
Imports declined in eight of eleven product sections in March. Consumer goods contributed the most to the monthly decline, with the largest contribution from pharmaceutical products. Imports of aircraft and other transportation equipment and parts were down in March due to lower imports of aircraft following notable imports from the United States in February.
In real (or volume) terms, exports edged down 0.3% and imports were down 2.0%.
Canada's international exports of services rose 0.5% from the previous month to $20.35 billion in March 2026. Canada's imports of services rose 1.7% to $20.44 billion. Canada's services trade position deteriorated from a surplus of $140 million in February to a deficit of $89 million in March.
Canada’s international exports of goods and services rose 6.7% to $93.1 billion in March 2026. Canada's international imports of goods and services fell 0.9% to $91.4 billion. Canada's overall international trade position improved by $6.7 billion, from a deficit of $5.0 billion in February to a surplus of $1.7 billion in March 2026.
Exports of goods to the United States from Canada rose 8.3% to $48.5 billion in March 2026 while imports of goods from the US fell 1.2% to $41.4 billion. Canada's trade surplus in goods with the US widened by $4.2 billion to $7.1 billion in March 2026.
Canada's exports of goods to China fell 6.7% to $3.3 billion in March 2026. Canada's imports of goods from China rose 4.4% to $5.8 billion. Canada's deficit in goods trade with China widened by $481 million to $2.5 billion.
In March 2026, Canada's exports of goods to the European Union rose 15.6% to $4.3 billion. Canada's imports of goods from the EU declined 2.0% to $7.2 billion. Canada's deficit in goods trade with the EU narrowed by $725 million to $2.9 billion.
Year-over-year (March 2026 vs March 2025)
Compared with the same month in 2025:
- Canada's international exports of goods rose 8.8% (+$5.9 billion) while Canada’s goods imports rose 2.5% (+$1.7 billion). Canada's goods trade position improved by $4.2 billion, from a deficit of $2.4 billion in March 2025 to a surplus of $1.8 billion in March 2026.
- Canada's international exports of services were up 1.7% (+$333 million) while Canada's imports of services were up 3.8% (+$754 million). Canada's services trade position deteriorated by $421 million, from a surplus of $332 million in March 2025 to a deficit of $89 million in March 2026.
- Canada’s combined international exports of goods and services rose by 7.2% (+$6.2 billion) while imports of goods and services rose by 2.8% (+$2.5 billion). Canada's overall international trade position improved by $3.8 billion, from a deficit of $2.1 billion in March 2025 to a surplus of $1.7 billion in March 2026.
- Exports of goods from Canada to the United States decreased 0.7% (-$354 million) while imports of goods from the US fell 2.3% (-$991 million). Canada's trade surplus in goods with the US widened by $636 million.
- Canada's exports of goods to China rose 20.6% (+$563 million). Canada's imports of goods from China rose 4.0% (+$222 million). Canada's deficit in goods trade with China narrowed by $341 million.
- Canada's exports of goods to the European Union rose by 15.4% (+$573 million). Canada's imports of goods from the EU rose by 13.0% (+$830 million). Canada's deficit in goods trade with the EU widened by $258 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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