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December 04, 2020CANADA TRADE BALANCE, OCTOBER 2020 GOODS
In October 2020, there was a deficit of $3,763.2 million in Canada's balance of trade in goods (balance of payments basis). This is $54.0 million narrower than the deficit of $3,817.2 million reported in September 2020.
Canada exported $46,466.7 million worth of goods in October 2020, up 2.2% from September 2020.
Canada imported $50,229.9 million worth of goods in October 2020, up 1.9% from September 2020.
From February 2020 to October 2020, Canada's goods imports were up 0.5% while goods exports were down 3.6%.
Canada's goods trade surplus with the United States was $3,048.5 million in October 2020, up $1,356.1 million from a surplus of $1,692.4 million reported in September 2020. From February 2020 to October 2020, Canada's goods exports to the US were down 6.2% while goods imports from the US were down 5.5%.
In October 2020, Canada's goods trade deficit with the European Union was $629.7 million, down $454.7 million from a deficit of $1,084.4 million reported for September 2020. Canada's goods exports to the EU in October were up 12.1% from February 2020, while goods imports from the EU were down 0.6% compared to February 2020.
In October 2020, Canada's deficit in goods trade with China was $2,529.8 million, up $1,066.5 million from a deficit of $1,463.3 million reported for September. From February 2020 to October 2020, Canada's goods exports to China were up 22.1% and goods imports from China were up 47.7%.
SERVICES
In October 2020, Canada's services trade (balance of payment basis, seasonally adjusted) had a deficit of $55.0 million, down $17.0 million from a deficit of $72.0 million in September. Services imports were up 1.7% to $9,404.0 million and services exports were up 1.9% to $9,349.00 million.
Comparing October 2020 with February 2020, Canada's exports of services were down 21.1% while imports of services were down 31.1%.
GOODS & SERVICES
In October 2020, Canada's overall trade deficit decreased by $71.0 million to $3,818.2 million, compared to a deficit of $3,889.2 million in September. Imports of goods and services were up 1.9% from September, at $59,633.9 million. Exports of goods and services were up 2.1% from September to $55,815.7 million.
Comparing October 2020 with February 2020, Canada's exports of goods and services were down 7.1% while imports of goods and services were down 6.3%.
Year-to-date (Jan-Oct20 vs Jan-Oct19)
Comparing the Jan-Oct period of 2020 with the same months of 2019, Canada's goods exports were down 14.0% while imports were down 10.7%. Services exports were down 15.4% while services imports fell 23.4%. Total exports of goods and services were down 14.3% while imports of goods and services were down 13.3%.
The deficit in goods trade widened while the deficit in services trade narrowed. The deficit in goods and services increased.
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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