Canadian international trade in services, June 2021
Canada's monthly international trade in services deficit widened from $412 million in May to $740 million in June. Overall, imports of services increased 3.5% to $10.0 billion, while exports edged up 0.1% to $9.3 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."
Imports of commercial services increased 4.2% to $7.5 billion in June, entirely due to higher imports of financial services. Imports of travel services increased 16.2% to $524 million, mainly due to an increase in the number of Canadians returning from non-US destinations. Meanwhile, imports of transportation services were down 1.9% to $1.8 billion, on lower payments related to the marine shipment of imported goods.
Exports of transportation services were up 1.5% to $1.2 billion in June, led by small but widespread increases in the various components of transportation services. Exports of commercial services (-0.1%) and travel services (+0.1%) were relatively unchanged in the month.
By comparison, total exports of goods increased 8.7% to $53.8 billion in June, while total imports of goods were down 1.0% to $50.5 billion, resulting in a goods surplus of $3.2 billion. Combined, the trade balance for goods and services amounted to a $2.5 billion surplus in June—a $4.5 billion change from a deficit of $2.0 billion in May.
The services trade deficit for May, first reported at $384 million, was revised up to $412 million with this month's release. Exports of services for May were revised down by $15 million, on downward revisions to transportation services. Imports of services were revised up by $13 million, on upward revisions to commercial services and travel services.
On a quarterly basis, imports of services increased 4.7% to $29.3 billion in the second quarter of 2021, almost entirely due to higher imports of commercial services (+5.5%). Exports of services were down 1.4% to $27.8 billion, on lower exports of commercial services (-1.2%) and travel services (-7.0%). The services trade balance for the second quarter of 2021 amounted to a deficit of $1.5 billion—a $1.7 billion change from a surplus of $222 million in the first quarter.
Note to readers
COVID-19 and additional data sources
Circumstances surrounding COVID-19 pose issues for the production of monthly international trade-in-services statistics, particularly for travel and transportation services.
To better capture the effects of the COVID-19 pandemic, Statistics Canada is incorporating data from the Canada Border Services Agency's primary inspection kiosks into its monthly international trade-in-services program. These are electronic customs declaration kiosks that have been installed in most major Canadian airports. While these data represent only a subset of total travellers, they provide relevant and timely insights.
Further information on the estimation methodology is available upon request.
The updated Canada and the World Statistics Hub (13-609-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 (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.
For more information, contact us (toll-free 1-800-263-1136; 514-283-8300; STATCAN.infostats-infostats.STATCAN@canada.ca).
To enquire about the concepts, methods or data quality of this release, contact Alec Forbes (613-668-6454; email@example.com), International Accounts and Trade Division.
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