Canadian international trade in services, May 2022
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Released: 2022-07-07
$12.4 billion
May 2022
1.7% 
(monthly change)
$13.5 billion
May 2022
0.5%
(monthly change)
-$1.1 billion
May 2022
$80.8 billion
May 2022
3.8%
(monthly change)
$76.7 billion
May 2022
-0.5% 
(monthly change)
$4.2 billion
May 2022
Canada's monthly international trade in services deficit narrowed from $1.3 billion in April to $1.1 billion in May. Overall, exports of services increased 1.7% to $12.4 billion, while imports were up 0.5% to $13.5 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
Exports of commercial services were up 2.3% to $8.6 billion in May, on widespread increases. Imports declined 1.4% to $8.0 billion, on lower imports of financial services.
Imports of travel services increased 9.2% to $2.2 billion in May, as the number of Canadians travelling abroad continued to increase. Exports of travel services edged down 0.3% to $2.1 billion. As a result, in May 2022, the travel services trade balance was in a slight deficit position (-$70 million) for the first time since March 2020. In May 2022, imports (-52.5%) and exports (-14.3%) of travel services were still below their levels in February 2020, before the pandemic.
Exports of transportation services rose 1.8% to $1.6 billion in May, and imports edged up 0.2% to $3.2 billion. The slower rate of growth for imports of transportation services in May, relative to recent months, was mainly due to a decline in the volume of imported goods. The passenger fares component of transportation services imports increased in May.
Chart 2
International trade in services, exports
Chart 3
International trade in services, imports
Chart 4
International trade in services, balances
By comparison, total exports of goods increased 4.1% to $68.4 billion in May while total imports of goods were down 0.7% to $63.1 billion, resulting in a surplus of $5.3 billion. Combined, the trade balance for goods and services amounted to a $4.2 billion surplus in May, a $3.3 billion increase from a combined surplus of $900 million in April.
Chart 5
International trade in goods and services, May 2022
The services trade deficit in April remained at $1.3 billion with the release of the May 2022 reference month data. Imports of services were revised down slightly (-$45 million), entirely on downward revisions to travel services. Exports of services were essentially unchanged.
Note to readers
COVID-19 and additional data sources
Circumstances surrounding the COVID-19 pandemic 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 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.
Next Release
Data on Canadian international trade in services for June will be released on August 4.
Products
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.
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).
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