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January 06, 2022CANADA TRADE BALANCE, NOVEMBER 2021 GOODS
In November 2021, Canada’s international trade surplus in goods widened to $3,133.2 million after a surplus of $2,263.8 million in October. Canada's international exports of goods grew 3.8% to $58,572.1 million and imports of goods rose 2.4% to $55,438.9 million. Exports were up despite transportation disruptions due to flooding and landslides in British Columbia, which impacted key points of entry and exit on the West Coast. Export gains were observed in 8 of the 11 product sectors, led by exports of pharmaceutical products. This reflects large shipments of COVID-19 medication that was imported into Canada for packaging and labelling, and was subsequently exported in the same month.
Canada’s goods trade surplus with the United States was $9,823.3 million in November, up from a $8,762.7 million surplus in the previous month. Canada exported $45,225.1 million in goods to the US and imported $35,401.9 million in goods from the US. Compared to October 2021, Canada's exports to the US were up 6.4% while imports from the US rose by 4.9%.
Canada's deficit in goods trade with the EU narrowed to $2,127.31 million in November 2021. Compared to October 2021, Canada's exports to the EU fell 5.7% to $2,497.3 million and imports from the EU were down 4.2% to $4,624.6 million.
Canada reported a deficit of $2,114.3 million in goods trade with China for November 2021. Canada's exports of goods to China declined to $2,609.6 million (-7.7%) in November. Canada's goods imports from China were down 10.2% to $4,723.9 million.
SERVICES
Canada’s services trade recorded a deficit of $230.0 million in November 2021, following a deficit of $520.0 million in October. Services imports were up 0.3% from October to November, rising to $11,935.0 million. Canada's services exports were up 2.9% to $11,704.0 million in November.
GOODS AND SERVICES
Canada's overall trade surplus in goods and services widened from $1,743.8 million in October to $2,902.2 million in November. Exports of goods and services were up 3.7% to $70,276.1 million while imports of goods and services were up 2.0% to $67,373.9 million.
Note: all data are reported on a seasonally adjusted balance of payments basis.
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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