Canadian international trade in services, November 2023

Released: 2024-01-09

Canada's monthly international trade in services deficit narrowed from $1.2 billion in October to $1.0 billion in November. Overall, exports of services increased 1.0% to $16.6 billion, while imports of services edged down 0.1% to $17.6 billion.

Exports of commercial services were up 1.0% to $10.6 billion in November. Exports of travel services increased 1.7% to $4.2 billion, on higher spending by both US and non-US resident visitors in Canada.

The slight decrease in imports occurred as a result of lower payments of travel services (-2.4%) and commercial services (-0.5%) in November. However, these decreases were mostly offset by higher imports of transportation services (+4.6%), largely in the form of maritime transportation services for goods entering Canada.

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 imports of goods increased 1.9% from October to $64.2 billion in November, and total exports of goods were down 0.6% to $65.7 billion. This resulted in a decrease in the goods surplus from $3.2 billion in October to $1.6 billion in November. Combined, the trade balance for goods and services amounted to a surplus of $0.6 billion in November, compared with a surplus of $2.0 billion in October.

The services trade deficit in October, originally reported at $1.3 billion in the previous release, was revised down to $1.2 billion with this month's release. Exports of services were revised up by $77 million, on upward revisions to commercial services, travel services, and transportation services. Imports of services were revised down by $34 million as downward revisions to commercial services and travel services were partially offset by an upward revision to transportation services.

Chart 2 
International trade in services, balances

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

Chart 4 
Contribution to the monthly change in imports, November 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

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