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September 03, 2026CANADA TRADE BALANCE, JULY 2026 Month-over-month (July 2026 vs June 2026)
In July 2026, Canada's international exports of goods fell 2.3% to $76.1 billion. Canada’s goods imports were up 2.2% to $75.4 billion. Canada's goods trade surplus narrowed by $3.4 billion to $0.8 billion in July 2026, marking a fifth consecutive monthly trade surplus.
Merchandise exports fell 2.3% in July, the first decline in six months, with lower exports of non-metallic mineral products and energy products driving the decrease. Higher exports of aircraft and transportation equipment, as well as farm and food products, partially offset these declines.
Imports rose 2.2%, a sixth consecutive monthly increase, led by record-high imports of motor vehicles and parts and higher imports of metal and non-metallic mineral products. Lower imports of energy products, electronic equipment, and aircraft partially offset growth in imports.
In real (volume) terms, exports decreased 1.5% while imports increased 2.2%.
Canada's international exports of services rose 1.2% from the previous month to $21.0 billion in July 2026. Canada's imports of services fell 1.1% to $20.7 billion. Canada's service trade deficit turned into a surplus of $307 million in July.
Canada’s international exports of goods and services declined 1.6% to $97.2 billion in July 2026. Canada's international imports of goods and services rose 1.5% to $96.1 billion. Canada's overall international trade surplus contracted by $2.9 billion to $1.1 billion in July 2026.
Exports of goods to the United States from Canada fell 6.6% to $50.5 billion in July 2026 and imports of goods from the US grew 1.8% to $44.6 billion. Canada's trade surplus in goods with the US contracted by $4.4 billion to $5.9 billion in July 2026.
Canada's exports of goods to China rose 9.2% to $4.2 billion in July 2026. Canada's imports of goods from China rose 7.8% to $5.9 billion. Canada's deficit in goods trade with China expanded by $72 million to $1.7 billion.
In July 2026, Canada's exports of goods to the European Union grew by 31.1% to $4.3 billion. Canada's imports of goods from the EU fell 2.6% to $6.9 billion. Canada's deficit in goods trade with the EU narrowed by $1.2 billion to $2.6 billion.
Year-over-year (July 2026 vs July 2025)
Compared with the same month in 2025 in Canada:
- International exports of goods rose 21.8% (+$13.6 billion) and Canada’s goods imports rose 13.4% (+$8.9 billion). Canada’s goods trade position improved by $4.7 billion, from a deficit of $3.9 billion in July 2025 to a surplus of $769.2 million in July 2026.
- International exports of services increased 4.8% (+$970 million) and Canada’s imports of services increased 5.9% (+$1.1 billion). As a result, Canada’s services trade balance deteriorated by $179.0 million, from a surplus of $486.0 million in July 2025 to a surplus of $307.0 million in July 2026.
- Combined international exports of goods and services rose 17.6% (+14.6 billion), while imports of goods and services increased 11.7% (+$10.1 billion). Canada's overall international trade position improved by $4.5 billion, from a deficit of $3.4 billion in July 2025 to a surplus of $1.1 billion in July 2026.
- Exports of goods from Canada to the United States increased 11.2% (+$5.1 billion) and imports of goods from the United States rose 15.9% (+$6.1 billion). As a result, Canada’s goods trade surplus with the United States narrowed by $1.0 billion, from $6.9 billion in July 2025 to $5.9 billion in July 2026.
- Exports of goods to China increased 51.7% (+$1.4 billion), while imports of goods from China rose 6.5% (+$358.5 million). Canada’s goods trade deficit with China narrowed by $1.1 billion, from $2.7 billion in July 2025 to $1.7 billion in July 2026.
- Exports of goods to the European Union increased 29.4% (+$983.4 million) and imports of goods from the European Union rose 9.2% (+$584.2 million). Canada’s goods trade deficit with the European Union narrowed by $399.3 million, from $3.0 billion in July 2025 to $2.6 billion in July 2026.
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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