Canadian international trade in services, July 2024

Released: 2024-09-04

Canada's monthly international trade in services deficit widened from $1.5 billion in June to $1.6 billion in July. Overall, imports of services were up 0.6% to $18.4 billion, while exports of services were essentially unchanged, at $16.8 billion.

Imports of travel services increased 3.4% to $5.3 billion in July on higher spending by Canadian travellers visiting US destinations. Imports of transportation services declined 3.0% to $2.9 billion, largely due to lower payments for maritime transportation services for goods entering Canada.

Exports of commercial services rose 0.8% to $11.0 billion in July, and this increase was almost entirely offset by lower exports of transportation services (-3.0%) and travel services (-0.8%).

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 decreased 1.7% to $65.0 billion in July, and total exports of goods were down 0.4% to $65.7 billion. This resulted in the goods trade balance switching from a slight deficit of $0.2 billion in June to a surplus of $0.7 billion in July. Combined, the trade balance for goods and services amounted to a deficit of $0.9 billion in July.

Chart 2 
International trade in services, balances

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

Chart 4 
Contribution to the monthly change in exports, July 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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