Canadian international trade in services, October 2024
Released: 2024-12-05
$18.3 billion
October 2024
0.7% 
(monthly change)
$18.4 billion
October 2024
2.0%
(monthly change)
-$0.1 billion
October 2024
$82.5 billion
October 2024
1.0%
(monthly change)
$83.5 billion
October 2024
0.8%
(monthly change)
-$1.0 billion
October 2024
Canada's monthly international trade in services balance went from a surplus of $0.2 billion in September to a small deficit of $0.1 billion in October. Overall, imports of services increased 2.0% to $18.4 billion, and exports of services were up 0.7% to $18.3 billion.
Imports of travel services were up 5.1% to $5.1 billion in October, mainly because of higher spending by Canadian travellers overseas. Imports of transportation services also increased, up 2.7% to $3.2 billion.
Exports of transportation services rose 6.4% to $2.0 billion in October, largely due to higher receipts of passenger fares. Offsetting movements in exports of travel services (+0.3%) and commercial services (-0.2%) were observed during the month.
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 1.1% to $64.2 billion in October, and total imports of goods were up 0.5% to $65.1 billion. This resulted in a narrowing of the goods trade deficit from $1.3 billion in September to $0.9 billion in October. Combined, the trade balance for goods and services amounted to a deficit of $1.0 billion in October.
Chart 2
International trade in services, balances
Chart 3
Contribution to the monthly change in imports, October 2024
Chart 4
Contribution to the monthly change in exports, October 2024
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Note to readers
Revisions
This release incorporates statistical revisions back to January 2021 as part of the annual revision exercise of the Canadian System of Macroeconomic Accounts. These revisions were first published with the balance of international payments release for the third quarter of 2024.
The revisions mainly reflect the integration of new benchmark survey data and updates resulting from the integration of trade data in the broader analytical context of the supply-use tables. For more information, consult the latest release on Annual international trade in services, 2023. As well, a new article, entitled "Revisions to 2022 and 2023 exports of travel services'' presents revisions to 2022 and 2023 exports of travel services, focusing mainly on integrating new estimates of the expenditures of temporary foreign workers in Canada.
Next release
Data on Canadian international trade in services for November 2024 will be released on January 7, 2025.
Products
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.
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).
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