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May 04, 2023CANADA TRADE BALANCE, MARCH 2023 GOODS
In March 2023, Canada's international export of goods decreased to $63.6 billion (-0.7% from February 2023). Canada’s goods imports also decreased (-2.9%) in March 2023 to $62.6 billion. The international trade balance shifted from a $487 million deficit in February 2023 to a $972 million surplus in March 2023.
Export of goods to the United States from Canada decreased 1.5% to $47.8 billion in March 2023 and imports of goods from the US decreased 0.1% to $40.1 billion. Canada's trade surplus in goods with the US decreased by $667 million to $7.6 billion in March 2023.
Canada's exports of goods to China decreased 7.0% to $2.9 billion in March 2023. Canada's imports of goods from China grew 1.7% to $5.5 billion. Canada's deficit in goods trade with China increased by $311 million to $2.6 billion.
In March 2023, Canada's exports of goods to the European Union increased by 2.7% to $2.9 billion. Canada's imports of goods from the EU were down 23.2% to $5.3 billion. Canada's deficit in goods trade with the EU narrowed by $1.7 billion to $2.4 billion.
SERVICES
Canada's international exports of services increased 0.2% to $14.0 billion in March 2023. Canada's imports of services during the same month increased 0.1% to $16.0 billion . Canada's deficit in international service trade narrowed by $19 million at $2.0 billion.
GOODS AND SERVICES
Canada’s international exports of goods and services decreased 0.5% to $78.5 billion in March 2023. Canada's international imports of goods and services fell by 2.3% to $78.5 billion. Canada's overall international trade deficit in goods and services narrowed by $1.5 billion to $985 million in March 2023.
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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