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- Canada’s merchandise exports declined 1.0% while imports fell 2.2% in April, as a result of lower prices. Export and import volumes rose for a third consecutive month, albeit at a slower pace than in the previous two months. Canada’s trade balance with the world went from a deficit of $236 million in March to a surplus of $175 million in April.
- Exports decreased to $32.9 billion from $33.3 billion in March, the second consecutive monthly decline. Export prices fell 1.4% while volumes grew 0.4%. Industrial goods and materials, accounted for three-quarters of the decline in exports. Widespread gains in exports of machinery and equipment moderated the overall decrease.
- Following two months of growth, imports declined to $32.8 billion from $33.5 billion in March, as import prices fell 2.4% while volumes grew 0.2%. The decrease in overall imports in April reflected declines in industrial goods and materials and, to a lesser extent, in other consumer goods, and machinery and equipment.
- Exports to the United States rose 0.7% while imports grew 0.9%. As a result, Canada’s trade surplus with the United States remained at $3.8 billion in April.
- Exports to countries other than the United States declined 5.5%, largely the result of a 23.4% decline in exports to the European Union. Imports fell 7.0% led by decreases in precious metals from the European Union. Consequently, Canada’s trade deficit with countries other than the United States narrowed to $3.6 billion in April from $4.0 billion in March.
Note to readers
Merchandise trade is one component of Canada's international balance of payments, which also includes trade in services, investment income, current transfers as well as capital and financial flows.
International merchandise trade data by country are available on both a balance of payments and a customs basis for the United States, Japan and the United Kingdom. Trade data for all other individual countries are available on a customs basis only. Balance of payments data are derived from customs data by making adjustments for characteristics such as valuation, coverage, timing and residency. These adjustments are made to conform to the concepts and definitions of the Canadian System of National Accounts.
Data in this release are on a balance of payments basis, seasonally adjusted in current dollars. Constant dollars are calculated using the Laspeyres volume formula.
Revisions
In general, merchandise trade data are revised on an ongoing basis for each month of the current year. Current year revisions are reflected in both the customs and balance of payments based data. Revisions to customs based data for the previous year are released on a quarterly basis. Revisions to balance of payments based data, for the four previous years, are released today.
Factors influencing revisions include late receipt of import and export documentation, incorrect information on customs forms, replacement of estimates with actual figures, changes in classification of merchandise based on more current information, and changes to seasonal adjustment factors.
Revised data are available in the appropriate CANSIM tables.
