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March 08, 2022CANADA TRADE BALANCE, JANUARY 2022 GOODS
In January 2022, Canada’s international trade surplus in goods was $2,617.9 million after a deficit of $1,582.3 million in December 2021. Canada's international exports of goods fell 0.2% to $56,617.6 million while imports of goods fell 7.4% to $53,999.7 million. Exports were down mainly on lower exports of passenger cars and trucks. However, export values have been sustained by higher export prices. Imports fell in 10 of 11 product sectors.
Canada’s goods trade surplus with the United States was $9,280.4 million in December, up from a $7,065.5 million surplus in the previous month. Canada exported $43,861.1 million in goods to the US and imported $34,580.7 million in goods from the US. Compared to December 2021, Canada's exports to the US were up 1.2% while imports from the US fell by 4.7%.
Canada reported a deficit of $2,333.0 million in goods trade with China for January 2022. Canada's exports of goods to China rose to $2,150.9 million (3.3%) in January. Canada's goods imports from China were down 17.0% to $4,483.9 million.
Canada's deficit in goods trade with the EU widened to $2,171.1 million in January 2022. Compared to December 2021, Canada's exports to the EU fell 13.0% to $2,523.5 million and imports from the EU were down 6.2% to $4,694.6 million.
SERVICES
Canada’s services trade recorded a deficit of $314.0 million in January 2022, following a deficit of $172.0 million in December. Services imports were down 2.8% from December, rising to $11,880.0 million in January. Canada's services exports were down 4.0% to $11,565.0 million in January.
GOODS AND SERVICES
Canada's overall trade surplus in goods and services was $2,302.9 million in January following at $1,754.3 million deficit in December. Exports of goods and services were down 0.8% to $68,182.6 million while imports of goods and services were down 6.6% to $65,879.7 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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