Canada Balance Commerciale

Canada posted a trade deficit of CAD 0.32 billion in November 2024, narrowing from the upwardly revised CAD 0.54 billion gap in the previous month and better than market expectations of a CAD 0.9 billion deficit. Despite the improvement, it marked the ninth consecutive monthly deficit. Imports rose by 1.8% to CAD 66.4 billion, led by forestry products and building materials (5.9% to CAD 2.99 billion), aircraft and other transportation equipment (5.7% to CAD 2.10 billion), and chemical products (4.3% to CAD 5.19 billion). Exports increased by 2.2% to CAD 66.1 billion, driven by metal ores and non-metallic minerals (10.5% to CAD 2.28 billion), aircraft and other transportation equipment (6.7% to CAD 2.93 billion), and consumer goods (4.4% to CAD 8.21 billion). Exports to the US rose 6.8%, widening the surplus with the US from CAD 6.6 billion to CAD 8.2 billion, while exports to other countries fell 10.3%, widening the non-US trade deficit from CAD 7.2 billion to CAD 8.5 billion.