Canadian international trade in services, December 2022

Released: 2023-02-07

Canada's monthly international trade in services deficit narrowed from $1.4 billion in November to $1.2 billion in December. Overall, exports of services increased 1.1% to $14.2 billion, while imports were down 0.6% to $15.4 billion.

To explore the most recent results of Canada's international trade in services in an interactive format, see the International trade monthly interactive dashboard.

Chart 1 
International trade in services

Imports of travel services fell 8.0% to $3.1 billion in December, as there were lower expenses by Canadian travellers returning from both US and non-US destinations. Major winter storms occurred across most of Canada during the peak holiday travel period in December, leading to a significant number of flight cancellations and delays. Exports of travel services increased 2.6% to $3.2 billion.

Imports of commercial services increased 1.6% to $9.2 billion in December, mainly due to an increase in financial services. Exports of commercial services were up 0.9% to $9.3 billion.

Imports of transportation services rose 1.4% to $3.0 billion in December, mainly due to higher payments related to air transportation services. Exports of transportation services declined 0.6% to $1.7 billion.

Chart 2 
International trade in services, imports

Chart 3 
International trade in services, exports

Chart 4 
International trade in services, balances

In December, total imports of goods declined 1.3% to $63.1 billion and total exports decreased 1.2% to $63.0 billion, resulting in a slight deficit of $160 million. Combined, the trade balance for goods and services amounted to a deficit of $1.3 billion, a $295 million decrease from a deficit of $1.6 billion in November.

Chart 5 
International trade in goods and services, December 2022

On an annual basis, imports of services increased 22.2% to $177.3 billion in 2022, and exports were up 14.9% to $160.2 billion. As a result, Canada's international trade in services deficit widened from $5.7 billion in 2021 to $17.1 billion in 2022. Travel services and transportation services were largely responsible for the widening deficit, as imports of travel services (+$21.9 billion) and transportation services (+$8.5 billion) increased more than exports (+$13.2 billion and +$4.1 billion, respectively). The significant increases in travel services and transportation services occurred as travel restrictions related to the COVID-19 pandemic in Canada and around the world were further lifted in 2022.

The services trade deficit in November, originally reported at $1.4 billion in the previous release, was essentially unchanged with this month's release. Imports were revised down by $61 million, as downward revisions to transportation services were partially offset by upward revisions to travel services. Exports were revised down by $38 million, as downward revisions to commercial services were partially offset by upward revisions to transportation services and travel services.

Products

The updated Canada and the World Statistics Hub(Catalogue number13-609-X) is available online. It illustrates the nature and extent of Canada's economic and financial relationship with the world using interactive charts and tables. This product provides easy access to information on trade, investment, employment and travel between Canada and a number of countries, including the United States, the United Kingdom, Mexico, China, Japan, Belgium, Italy, the Netherlands, and Spain.

The Methodological Guide: Canadian System of Macroeconomic Accounts (Catalogue number13-607-X) is available.

The User Guide: Canadian System of Macroeconomic Accounts (Catalogue number13-606-G) is also available. This publication will be updated to maintain its relevance.

Contact information

For more information, or to enquire about the concepts, methods or data quality of this release, contact us (toll-free 1-800-263-1136; 514-283-8300; infostats@statcan.gc.ca) or Media Relations (statcan.mediahotline-ligneinfomedias.statcan@statcan.gc.ca).