Canadian international trade in services, April 2023
Canada's monthly international trade in services deficit widened from $1.1 billion in March to $1.2 billion in April. Overall, exports of services were down 0.5% to $14.4 billion, as declines in commercial services (-0.8%) and travel services (-1.3%) were moderated by an increase in transportation services (+3.0%). Imports were essentially unchanged at $15.6 billion. Higher imports of commercial services (+1.3%) were almost entirely offset by lower travel services (-3.2%) and transportation services (-0.3%). The decline in travel services imports in April occurred following high levels reported at the start of 2023.
To explore the most recent results of Canada's international trade in services in an interactive format, see the International trade monthly interactive dashboard.
Total exports of goods increased 2.5% from March to $64.8 billion in April, and total imports of goods edged down 0.2% to $62.9 billion, resulting in a surplus of $1.9 billion. Combined, the trade balance for goods and services amounted to a surplus of $779 million in April compared with a deficit of $853 million in March.
The services trade deficit in March, originally reported at $2.0 billion in the previous release, was revised to $1.1 billion with the current reference month's release. Exports were revised up by $506 million because of upward revisions to commercial services and travel services. Imports were revised down by $367 million because of downward revisions to transportation services and travel services. The revisions reflected in the current reference month's release are primarily because of the integration of quarterly benchmark data from the balance of payments for the first quarter of 2023, as well as revisions to the data for all four quarters of 2022.
Note to readers
Data on Canadian international trade in services for May will be released on July 6.
The updated Canada and the World Statistics Hub (13-609-X) is available online. This product illustrates the nature and extent of Canada's economic and financial relationship with the world using interactive charts and tables. It 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.
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