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September 02, 2021CANADA TRADE BALANCE, JULY 2021 GOODS
In July 2021, Canada’s international trade surplus in goods narrowed to $778.1 million after a surplus of $2,562.3 million in June. Canada international exports of goods rose by 0.6% to $53,749.3 million and imports of goods increased 4.2% to $52,971.2 million. Imports rose on higher motor vehicles and parts (typical during summer shutdown of Canadian vehicle assembly plants) as well as electronics, which offset a fall in imports of consumer goods. Export gains in energy and motor vehicles were offset by a decline in the price of lumber shipments.
Canada’s goods trade surplus with the United States was $6,671.9 million in July, down from a $7,897.3 million surplus in the previous month. Canada exported $40,801.7 million in goods to the US and imported $34,129.9 million in goods from the US. Compared to June 2021, Canada's exports to the US were up 3.6% while imports from the US rose by 8.4%.
Canada's deficit in goods trade with the EU widened slightly to $2,313.2 million in July 2021. Compared to June 2021, Canada's exports to the EU fell 11.2% to $2,457.8 million while imports from the EU were down 5.3% to $4,771.0 million.
Canada reported a deficit of $1,694.6 million in goods trade with China for July 2021. Canada's exports of goods to China fell 19.3% from June to July, decreasing to $2,211.6 million. Canada's goods imports from China were also down, falling 7.1% to $3,906.2 million.
SERVICES
Canada’s services trade recorded a deficit of $301 million in July 2021, following a deficit of $60 million in June. Services imports were up 3.7% from June to July, rising to $10,019 million. Canada's services exports were up 1.2% to $9,718 million in July.
GOODS AND SERVICES
Canada's overall trade surplus in goods and services narrowed from $2,501.3 million in June to $477.1 million in July. Exports of goods and services increased by 0.7% to $63,467.3 million while imports of goods and services rose by 4.1% to $62,990.2 million.
Note: all data are reported on a seasonally adjusted balance of payments basis.
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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