Top Canadian Trade Balances
Trucks, auto parts or accessories, smartphones and other technology-related goods were major factors behind Canada’s highest product trade deficits during 2018. China and Mexico placed first and second respectively among trade partners with which Canada experienced the highest negative trade balances.
Canada’s overall trade deficit for all products equaled -US$9.1 billion in 2018, up 5,983% from the -$149.5 million deficit for 2011. Year over year, the most recent -$9.1 billion shortfall represents a -22.8% decrease from the -$11.8 billion deficit that Canada incurred during 2017. That deficit reduction is partially driven by improving crude oil prices.
Top Canadian Trade Balances by Product and Country
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- Crude oil: US$52.7 billion (Up 29.6% since 2011)
- Cars: $11.1 billion (Down -31.7%)
- Sawn wood: $7.8 billion (Up 55.5%)
- Gold (unwrought): $7.4 billion (Up 9.7%)
- Petroleum gases: $7 billion (Down -39.7%)
- Aluminum (unwrought): $5.9 billion (Down -2.9%)
- Wheat: $5.7 billion (Down -0.7%)
- Chemical woodpulp (non-dissolving): $5.1 billion (Up 0.5%)
- Coal, solid fuels made from coal: $5 billion (Down -29.7%)
- Potassic fertilizers: $4.9 billion (Down -27.5%)
Positive trade balances were whittled down most dramatically over the 7-year period for petroleum gases (down -39.7%), cars (down -31.7%) then coal including solid fuels made from coal (down -29.7%).
Directorate General Of Foreign Trade | Ministry Of Commerce And Industry | Government Of India,Trade 