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November 04, 2020CANADA TRADE BALANCE, SEPTEMBER 2020 GOODS
In September 2020, there was a deficit of $3,252.4 million in Canada's balance of trade in goods (balance of payments basis). This is $41.2 million wider than the deficit of $3,211.2 million reported in August 2020.
Canada exported $45,541.3 million worth of goods in September 2020, up 1.5% from August 2020.
Canada imported $48,793.7 million worth of goods in September 2020, up 1.5% from August 2020.
From February 2020 to September 2020, Canada's goods imports were down 2.3% while goods exports were down 5.8%.
Canada's goods trade surplus with the United States was $2,032.6 million in September 2020, down $886.8 million from the surplus of $2,919.4 million reported in August 2020. From February 2020 to September 2020, Canada's goods exports to the US were down 8.0% while goods imports from the US were down 4.3%.
In September 2020, Canada's goods trade deficit with the European Union was $1,012.9 million, up $48.7 million from a deficit of $964.2 million reported for August 2020. Canada's goods exports to the EU in September were up 8.6% from February 2020, while goods imports from the EU were up 3.5% compared to February 2020.
In September 2020, Canada's deficit in goods trade with China was $1,447.7 million, $749.0 million narrower than the deficit of $2,196.7 million reported for August. From February 2020 to September 2020, Canada's goods exports to China were up 26.8% and goods imports from China were up 20.9%.
SERVICES
In September 2020, Canada's services trade (balance of payment basis, seasonally adjusted) had a surplus of $11.0 million, down $344.0 million from a surplus of $355.0 million in August. Services imports were up 1.2% to $9,056.0 million, while services exports were down 2.5% to $9,067.0 million.
Comparing September 2020 with February 2020, Canada's exports of services were down 22.3% while imports of services were down 33.7%.
GOODS & SERVICES
In September 2020, Canada's overall trade deficit grew by $385.2 million to $3,241.4 million, compared to a revised deficit of $2,856.2 million in August. Imports of goods and services were up 1.5% from August, at $57,849.7 million. Exports of goods and services were up 0.8% from August to $54,608.3 million.
Comparing September 2020 with February 2020, Canada's exports of goods and services were down 9.0% while imports of goods and services were down 9.1%.
Year-to-date (Jan-Sep20 vs Jan-Sep19)
Comparing the January-September period of 2020 with the same months of 2019, Canada's goods exports were down 14.4% while imports were down 12.0%. Services exports were down 14.6% while services imports fell 22.9%. Total exports of goods and services were down 14.5% while imports of goods and services were down 14.2%.
The deficit in goods trade widened while the deficit in services trade narrowed. The deficit in goods and services narrowed.
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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