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April 02, 2026CANADA TRADE BALANCE, FEBRUARY 2026 Month-over-month (February 2026 vs January 2026)
In February 2026, Canada's international exports of goods rose 6.4% to $66.3 billion. Canada’s goods imports were up 8.4% to $72.1 billion. Canada's goods trade deficit widened by $1.6 billion in February.
Exports rose in nine of eleven product sections, led by higher exports of motor vehicles and parts (following a sharp decline in January). Statistics Canada reported that exports of passenger cars and light trucks contributed the most to the gain, reflecting a bounce-back in production following prolonged seasonal production stoppages due to retooling and maintenance. There was also notable growth in exports of metal and non-metallic mineral products (due to higher exports of unwrought gold to the United Kingdom), and farm, fishing, and intermediate food products, particularly barely and soybeans to China.
Imports reached a record high as ten of eleven product sections reported growth. Imports of metal and non-metallic mineral products were driven by higher purchases of gold from the United States. Growth in motor vehicles and parts (particularly for motor vehicle engines and parts) was due to the same rebound in Canadian production that drove motor vehicle exports.
In real (or volume) terms, exports were up 4.8% and imports were up 7.1%.
Canada's international exports of services rose 1.5% from the previous month to $20.3 billion in February 2026. Canada's imports of services were down 0.7% to $19.9 billion. Canada's services trade position improved from a deficit of $33 million in January to a surplus of $408 million in February.
Canada’s international exports of goods and services rose 5.2% to $86.6 billion in February 2026. Canada's international imports of goods and services rose 6.3% to $92.0 billion. Canada's overall international trade deficit widened by $1.1 billion to $5.3 billion in February 2026.
Significant changes in US tariff policy led to a pre-tariff increase in Canadian goods exports to the US (building inventories of goods before tariffs take effect), followed by a sharp post-tariff decline. Retaliatory measures and changes in consumer preferences have also influenced Canadian imports of goods from the US during this period.
Exports of goods to the United States from Canada rose 4.4% to $44.0 billion in February 2026 while imports of goods from the US rose 13.6% to $42.3 billion. Canada's trade surplus in goods with the US narrowed by $3.2 billion to $1.7 billion in February 2026.
Canada's exports of goods to China grew 14.5% to $3.6 billion in February 2026. Canada's imports of goods from China decreased 5.1% to $5.4 billion. Canada's deficit in goods trade with China narrowed by $743 million to $1.9 billion.
In February 2026, Canada's exports of goods to the European Union declined 1.3% to $3.7 billion. Canada's imports of goods from the EU rose 7.4% to $7.2 billion. Canada's deficit in goods trade with the EU widened by $544 million to $3.5 billion.
Year-over-year (February 2026 vs February 2025)
Compared with the same month in 2025:
- Canada's international exports of goods declined 2.6% (-$1.7 billion) while Canada’s goods imports rose 3.8% (-$2.6 billion). Canada's deficit in goods widened by $4.4 billion.
- Canada's international exports of services were up 2.5% (+$491 million) while Canada's imports of services were up 2.4% (+$468 million). Canada's services trade surplus widened by $24 million.
- Canada’s combined international exports of goods and services declined by 1.4% (-$1.3 billion) while imports of goods and services rose by 3.5% (+$3.1 billion). Canada's overall international trade deficit widened by $4.3 billion.
- Exports of goods from Canada to the United States decreased 18.4% (-$9.9 billion) while imports of goods from the US fell 3.0% (-$1.3 billion). Canada's trade surplus in goods with the US contracted by $8.6 billion.
- Canada's exports of goods to China rose 31.9% (+$862 million). Canada's imports of goods from China rose 4.0% (+$210 million). Canada's deficit in goods trade with China narrowed by $651 million.
- Canada's exports of goods to the European Union rose by 31.4% (+$889 million). Canada's imports of goods from the EU rose by 21.5% (+$1.3 billion). Canada's deficit in goods trade with the EU widened by $381 million.
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)