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April 07, 2021CANADA TRADE BALANCE, FEBRUARY 2021 GOODS
In February 2021, Canada international trade balance in goods narrowed by $166.8 million to $1,039.1 million. Statistics Canada noted that this was the first time since late 2016 that the trade balance posted a surplus two months in a row. Canada international exports of goods declined by 2.7% to $49,856.0 million while imports of goods narrowed by 2.4% to $48,816.9 million.
Canada’s goods trade surplus with the United States was $6,756.0 million in February 2021, up $808.2 million from a surplus of $5,947.8 million in January. When compared to February 2020, Canada’s goods exports to the US were up 4.7% while goods imports from the US were down 6.5%.
In February 2021, Canada’s goods trade deficit with the European Union was $2,201.7 million, up $114.0 million from a deficit of $2,087.7 million reported in January. Canada’s goods exports to the EU in February were down 49.1% from February 2020 while goods imports from the EU declined 17.2%.
Canada’s goods trade deficit with China was $2,030.8 million in February 2021, up $134.1 million from a deficit of $1,896.7 million reported in January. When compared to February 2020, Canada’s goods exports to China increased 27.9% while goods imports from China were up 35.5%.
SERVICES
Canada’s services trade (balance of payment basis, seasonally adjusted) recorded a surplus of $79.0 million in February 2021. This follows a deficit of $236.0 million recorded in January. Services imports were down 4.9% to $9,066.0 million and services exports were down 1.6% to $9,145.0 million.
When compared to February 2020, Canada’s exports of services were down 15.9% while imports of services were down 34.5%.
GOODS & SERVICES
Canada’s overall trade balance reported a surplus of $1,118.1 million in February 2021, recording an increase of $148.2 million to $969.9 million reported in January. Imports of goods and services declined 2.8% to $57,882.9 million from the previous month. Exports of goods and services were down 2.5% month-over-month to $59,001.0 million.
Compared to February 2020, Canada’s exports of goods and services were up 0.4% while imports of goods and services declined 9.7%.
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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