Canadian international trade in services, June 2021

Released: 2021-08-05

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."

Chart 1 
International trade in services

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.

Chart 2 
International trade in services, imports

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.

Chart 3 
International trade in services, exports

Chart 4 
International trade in services, balances

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.

Chart 5 
International trade in goods and services, June 2021

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.

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, 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; alec.forbes@canada.ca), International Accounts and Trade Division.