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March 06, 2020CANADA TRADE BALANCE, JANUARY 2020 GOODS
In January 2020, Canadian goods trade (balance of payment basis, seasonally adjusted) had a deficit $1,473.5 million. This is a wider deficit than the $731.5 million reported in December 2019. Compared with December 2019, exports of goods were down 2.0 per cent to $48.1 billion. Canada's goods exports were down 0.5 per cent compared to January 2019. Compared with December 2019, imports of goods were down 0.5 per cent to $49.6 billion. Canada's goods imports were down 4.9 per cent over January 2019.
In January 2020, the Canadian merchandise trade (balance of payment basis, seasonally adjusted), surplus with the United States narrowed to $3,558.8 millions.
In January 2020, the Canadian merchandise trade (balance of payment basis, seasonally adjusted), deficit with China narrowed to $1,408.8 millions.
In January 2020, the Canadian merchandise trade (balance of payment basis, seasonally adjusted), deficit with the European Union narrowed to $862.3 millions.
SERVICES
Statistics Canada now produces estimates of Canada's trade in services. Services are categorized into: commercial services, travel services, transportation services and government services.
In January 2020, Canada's deficit in services trade narrowed to $1,583.0 million (balance of payment basis, seasonally adjusted) compared with a deficit of $1,775.0 million in December 2019. Service imports were down 2.4 per cent from December to January ($12.7 billion) while service exports were down 1.1 per cent to $11.1 billion.
GOODS & SERVICES
With new data on Canada's trade in services, an overall balance of trade can be calculated, summing the value of goods and services.
In January 2020, Canada's overall trade deficit widened to -$3,056.4 million (goods+services, balance of payment basis, seasonally adjusted), compared to a deficit of -$2,506.5 million in December 2019. Imports of goods and services were down 0.9 per cent from December to January, at $62.3 billion. Exports of goods and services fell by 1.8 per cent from December to January, declining to $59.2 billion.
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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