Canadian international trade in services, December 2024

Released: 2025-02-05

Canada's monthly international trade in services deficit narrowed to $0.1 billion in December. Overall, imports of services declined 1.2% to $18.2 billion, while exports of services were up 0.8% to $18.1 billion.

Imports of commercial services declined 1.3% to $9.4 billion in December. Imports of transportation services (-2.3% to $3.3 billion) also fell, largely due to lower payments of passenger fares.

Exports of commercial services (+0.8% to $10.1 billion) rose in December, as did transportation services (+1.5%) and travel services (+0.7%).

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 4.9% to $69.5 billion in December, and total imports of goods were up 2.3% to $68.8 billion. This resulted in the goods trade balance moving from a deficit of $1.0 billion in November to a surplus of $0.7 billion in December. Combined, the trade balance for goods and services amounted to a surplus of $0.6 billion in December.

On an annual basis, exports of services increased 5.5% to $219.9 billion in 2024, and imports were up 5.5% to $217.3 billion. As a result, Canada's international trade in services surplus widened slightly from $2.6 billion in 2023 to $2.7 billion in 2024.

Chart 2 
International trade in services, balances

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

Chart 4 
Contribution to the monthly change in exports, December 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, 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).