Canadian trade balance data
- prior month $-3.34 billion revised to $-3.56 billion
- total merchandise trade deficit $-1.67 billion vs. $-3.30 billion estimate
- Exports to the US increase 1.5% on higher energy products, while imports fell -0.1%. Canada's trade surplus widened to $2.2 billion vs. $2.8 billion in December
- For the year exports to the United States dropped -15.6%. Imports fell -11%
- total exports rose 1.5%
- total imports fell -2.3%
- deficit was the lowest since June 2020
- for the year Canada's trade deficit totaled $36.2 billion which was more than double the deficit of 2019. Total merchandise exports fell -12.3% in 2020. Imports were down -8.6%. By comparison in 2009 recession merchandise exports fell -24.6%. And imports fell -15.7%
