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April 05, 2023CANADA TRADE BALANCE, FEBRUARY 2023 GOODS
In February 2023, Canada's international export of goods decreased to $65.0 billion (-2.4% from January 2023). Canada’s goods imports also decreased (-1.3%) in February 2023 to $64.6 billion. The international trade surplus in goods shrunk by $781.8 million from January to February 2023, decreasing to $422.3 million.
Export of goods to the United States from Canada decreased 0.9% to $49.5 billion in February 2023 while imports of goods from the US decreased 2.8% to $40.2 billion. Canada's trade surplus in goods with the US increased by $729.1 million to $9.3 billion in February 2023.
Canada's exports of goods to China increased 4.7% to $3.2 billion in February 2023. Canada's imports of goods from China grew 1.7% to $5.3 billion. Canada's deficit in goods trade with China narrowed by $50.3 million to $2.18 billion.
In February 2023, Canada's exports of goods to the European Union decreased by 7.6% to $2.8 billion. Canada's imports of goods from the EU were up 9.0% to $6.9 billion. Canada's deficit in goods trade with the EU widened by $803.4 million to $4.15 billion.
SERVICES
Canada's international exports of services decreased 1.3% to $14.0 billion in February 2023. Canada's imports of services during the same month increased 0.4% to $16.2 billion. Canada's deficit in international service trade increased by $247.0 million to $2.22 billion.
GOODS AND SERVICES
Canada’s international exports of goods and services decreased 2.2% to $79.0 billion in February 2023. Canada's international imports of goods and services fell by 1.0% to $80.8 billion. Canada's overall international trade balance in goods and services grew by $1.03 billion to $1.79 billion.
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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