Canada Balance Commerciale

Canada reported a trade deficit of CAD 1.5 billion in February 2025, shifting from a revised 32-month high surplus of CAD 3.1 billion in January and missing the expected CAD 3.4 billion surplus. Exports decreased 5.5% over a month to CAD 70.1 billion, yet the second highest since May 2022. Declines were observed in 10 of the 11 product sections, led by energy products (-6.3%), motor vehicles and parts (-8.8%), and metal & non-metallic mineral products (-6.6%). Moreover, exports of forestry products and building and packaging materials declined by 10.8%. Imports rose 0.8% to a fresh record high of CAD 71.6 billion, marking a fifth consecutive monthly gain, after increasing by 2.4% in January. Imports increased primarily for motor vehicles and parts (+5.8%), industrial machinery, equipment and parts (+3.1%), energy products (+5.2%) and metal and non-metallic mineral products (+3.5%).