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August 04, 2022CANADA TRADE BALANCE, JUNE 2022 GOODS
In June 2022, Canada’s international trade surplus in goods was $5,046.2 million, increasing from a surplus of $4,768.8 million in May 2022. Canada's international exports of goods increased 2.0% to $69.904.1 million while imports of goods increased 1.7% to $64,857.8 million. Export growth led by the gains on crude oil and gold. Imports of energy products (+22.3%) contributed the most to the gain in total imports in June while lower imports of motor vehicles and parts (-6.8%) partially offset the increase in total imports. The volume of imports declined 0.3% and the volume of exports increased 2.2% in June 2022.
Canada’s goods trade surplus with the United States declined from $13,597.5 million in May 2022 to $13,208.5 million in June 2022. Canada exported $53,466.2 million in goods to the US and imported $40,257.7 million in goods from the US. Compared to May 2022, Canada's exports to the US were up 1.2% while imports from the US were up by 2.6%.
Canada reported a deficit of $3,547.3 million in goods trade with China for June 2022. Canada's exports of goods to China increased to $2,323.7 million (+15.8%) in June. Canada's goods imports from China were up 0.5% to $5,871.0 million.
Canada's deficit in goods trade with the European Union was $2,686.9 million in June 2022. Compared to May 2022, Canada's exports to the European Union were up 3.8% to $3,147.1 million and imports from the European Union were down 2.8% to $5,834.1 million.
SERVICES
Canada’s services trade recorded a deficit of $1,275 million in June 2022, following a deficit of $1,080 million in May 2022. Services exports increased 1.5% from the previous month to $12,768 million in June 2022. Canada's services imports were up 2.8% to $14,043 million in June 2022.
GOODS AND SERVICES
Canada's overall trade surplus in goods and services was $3,771.2 million in June 2022. Exports of goods and services were up 1.9% to $82,672.1 million. Imports of goods and services also increased 1.9% to $78,900.8 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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