Canadian international trade in services, November 2022

Released: 2023-01-05

Canada's monthly international trade in services deficit narrowed from $2.1 billion in October to $1.4 billion in November. Overall, exports of services increased by 2.0% to $14.1 billion, and imports declined by 2.3% to $15.5 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 by 2.2% to $9.3 billion in November. Imports of commercial services declined by 1.3% to $9.0 billion, largely due to lower payments of financial services.

Exports of travel services increased by 3.1% to $3.0 billion in November on stronger expenditures of travel services in Canada by residents of the United States and non-US countries. Imports of travel services fell by 4.4% to $3.2 billion, the first decline following nine straight monthly increases.

Exports of transportation services were down 1.4% to $1.6 billion in November. Meanwhile, imports of transportation services decreased 3.0% to $3.2 billion, largely because of lower payments related to the marine transport of goods.

Chart 2 
International trade in services, exports

Chart 3 
International trade in services, imports

Chart 4 
International trade in services, balances

In November, total exports of goods decreased by 2.3% to $64.4 billion, while total imports of goods were down by 2.1% to $64.4 billion, resulting in a slight deficit of $41 million. Combined, the trade balance for goods and services amounted to a deficit of $1.5 billion, a $470 million decrease from a deficit of $1.9 billion in October.

Chart 5 
International trade in goods and services, November 2022

The services trade deficit in October, originally reported at $1.9 billion in the previous release, was revised to $2.1 billion with this month's release. Exports were revised down by $92 million, on downward revisions to commercial services and transportation services. Imports were revised up by $25 million, mainly due to upward revisions to commercial 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).