Canadian international trade in services, August 2024
Released: 2024-10-08
$16.9 billion
August 2024
0.5% 
(monthly change)
$18.2 billion
August 2024
-0.6% 
(monthly change)
-$1.3 billion
August 2024
$81.2 billion
August 2024
-0.7%
(monthly change)
$83.6 billion
August 2024
0.1%
(monthly change)
-$2.4 billion
August 2024
Canada's monthly international trade in services deficit narrowed from $1.5 billion in July to $1.3 billion in August. Overall, imports of services declined 0.6% to $18.2 billion, while exports of services were up 0.5% to $16.9 billion.
Imports of commercial services decreased 0.8% to $10.0 billion in August, mainly because of lower payments for financial services. Imports of travel services also declined, down 0.9% to $5.2 billion on lower spending by Canadian travellers visiting US destinations.
Exports of commercial services rose 0.4% to $11.0 billion in August, largely due to higher receipts of financial services. Exports of transportation services (+1.3%) and travel services (+0.3%) also increased in the month.
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
Total exports of goods decreased 1.0% to $64.3 billion in August, and total imports of goods edged up 0.3% to $65.4 billion. This resulted in a widening of the goods trade deficit from $0.3 billion in July to $1.1 billion in August. Combined, the trade balance for goods and services amounted to a deficit of $2.4 billion in August.
Chart 2
International trade in services, balances
Chart 3
Contribution to the monthly change in imports, August 2024
Chart 4
Contribution to the monthly change in exports, August 2024
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Note to readers
Next release
Data on Canadian international trade in services for September will be released on November 5.
Products
The Methodological Guide: Canadian System of Macroeconomic Accounts (13-607-X) is available.
The User Guide: Canadian System of Macroeconomic Accounts (13-606-G) is also available. This publication will be updated to maintain its relevance.
Contact information
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