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November 03, 2022CANADA TRADE BALANCE, SEPTEMBER 2022 GOODS
In September 2022, international export of goods increased to $66.4 billion (+1.3%) from August 2022. Canada’s imports also grew to $65.2 billion (+0.4%) in September. The international trade surplus grew by $588.3 million coming to $1,139 million in September.
Export of goods to the United States from Canada in September 2022 decreased to $50.3 billion (-0.4%) and imports grew to $40.5 billion (+0.4%). Trade surplus of goods to declined by $346.5 million to $9.8 billion in September 2022.
Trade of goods with China increased in September 2022. Imports from China remained unchanged from August 2022 and exports grew to $2.7 billion (+10.2%). Trade deficit with China decreased by $284.2 million to $3.6 billion in September 2022.
In September, Canada’s exports of goods to European Union decreased by $114.0 million (-3.5%) to $3.2 billion. Imports from European Union increased by $417.7 million (+7.0%) to $6.4 billion. The trade deficit increased by $531.6 million to $3.2 billion.
SERVICES
The Canadian international trade export of services increased (+2.3%) to $12.9 billion in September 2022. Imports of services during the same month increased (+0.5%) to $14.5 billion. The service trade deficit further decreased by $223.0 million to $1.6 billion.
GOODS AND SERVICES
Canada’s international import of goods and services increased (+0.5%) to $79.7 billion. Exports of goods and services increased (+1.5%) to $79.3 billion. The trade balance deficit narrowed to $415.7 million in September 2022 from a deficit of $1.2 billion in August 2022.
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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