Canadian international trade in services, June 2024

Released: 2024-08-06

Canada's monthly international trade in services deficit widened from $1.0 billion in May to $1.1 billion in June. Overall, imports of services increased 1.6% to $18.3 billion, and exports of services were up 0.6% to $17.2 billion.

Imports of commercial services rose 1.8% to $10.5 billion in June, mainly because of higher payments for financial services. Imports of travel services increased 2.5% to $4.7 billion on higher spending by Canadian travellers visiting US destinations.

Exports of transportation services rose 4.3% to $1.7 billion in June. Transportation services related to the shipment of goods drove the increase, as exports of goods experienced strong monthly growth. Exports of commercial services (+0.5%) also rose.

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 5.5% to $66.6 billion in June, and total imports of goods were up 1.9% to $66.0 billion. This resulted in the goods trade balance switching from a deficit of $1.6 billion in May to a surplus of $0.6 billion in June. Combined, the trade balance for goods and services amounted to a deficit of $0.5 billion in June.

Chart 2 
International trade in services, balances

Chart 3 
Contribution to the monthly change in imports, June 2024

Chart 4 
Contribution to the monthly change in exports, June 2024

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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