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January 07, 2021CANADA TRADE BALANCE, NOVEMBER 2020 GOODS
In November 2020, there was a deficit of $3,339.5 million in Canada's balance of trade in goods (balance of payments basis). This is $388.1 million narrower than the deficit of $3,727.6 million reported in October 2020.
Canada exported $46,763.1 million worth of goods in November 2020, up 0.5% from October 2020.
Canada imported $50,102.6 million worth of goods in November 2020, down 0.3% from October 2020.
From February 2020 to November 2020, Canada's goods imports were up 0.1% while goods exports were down 3.1%.
Canada's goods trade surplus with the United States was $2,328.4 million in November 2020, down $811.1 million from a surplus of $3,139.5 million reported in October 2020. From February 2020 to November 2020, Canada's goods exports to the US were down 8.3% while goods imports from the US were down 5.5%.
In November 2020, Canada's goods trade surplus with the European Union was $454.5 million, up $1,130.1 million from a deficit of $675.6 million reported for October 2020. Canada's goods exports to the EU in November were up 43.7% from February 2020, while goods imports from the EU were up 2.8% compared to February 2020.
In November 2020, Canada's deficit in goods trade with China was $2,574.7 million, up $9.4 million from a deficit of $2,565.3 million reported for October. From February 2020 to November 2020, Canada's goods exports to China were up 14.7% and goods imports from China were up 45.0%.
SERVICES
In November 2020, Canada's services trade (balance of payment basis, seasonally adjusted) had a surplus of $119.0 million, up $100.0 million from a surplus of $19.0 million in October. Services imports were down 0.1% to $9,324.0 million and services exports were up 1.0% to $9,443.0 million.
Comparing November 2020 with February 2020, Canada's exports of services were down 20.1% while imports of services were down 31.8%.
GOODS & SERVICES
In November 2020, Canada's overall trade deficit decreased by $488.1 million to $3,220.5 million, compared to a deficit of $3,708.6 million in October. Imports of goods and services were down 0.3% from October, at $59,426.6 million. Exports of goods and services were up 0.6% from October to $56,206.1 million.
Comparing November 2020 with February 2020, Canada's exports of goods and services were down 6.4% while imports of goods and services were down 6.7%.
Year-to-date (Jan-Nov20 vs Jan-Nov19)
Comparing the Jan-Nov period of 2020 with the same months of 2019, Canada's goods exports were down 13.2% while imports were down 9.5%. Services exports were down 15.8% while services imports fell 24.0%. Total exports of goods and services were down 13.7% while imports of goods and services were down 12.5%.
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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