Canadian international trade in services, September 2023

Released: 2023-11-07

Canada's monthly international trade in services deficit was essentially unchanged from August to September at $1.6 billion. Overall, exports of services edged up 0.1% to $15.0 billion, while imports of services remained at $16.6 billion.

The slight increase in exports in September occurred as higher receipts of travel services (+2.4%), mainly from residents of countries other than the United States, were almost entirely offset by lower exports of commercial services (-0.6%) and transportation services (-0.5%).

Imports of commercial services increased 1.3% to $9.8 billion in September, mainly on higher payments of financial services. Lower imports of travel services (-2.0%) and transportation services (-1.6%) offset the increase in commercial services.

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

Total exports of goods increased 2.7% from August to $67.0 billion in September, and total imports of goods were up 1.0% to $65.0 billion, resulting in a surplus of $2.0 billion in September. Combined, the trade balance for goods and services amounted to a surplus of $0.5 billion in September, compared with a deficit of $0.6 billion in August.

The services trade deficit in August, originally reported at $1.5 billion in the previous release, was revised up to $1.6 billion with this month's release, as imports (+$184 million) and exports (+$63 million) were revised up.

Chart 2 
International trade in services, balances

Chart 3 
Contribution to the monthly change in exports, September 2023

Chart 4 
Contribution to the monthly change in imports, September 2023

Products

The updated Canada and the World Statistics Hub(Catalogue number13-609-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 (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).