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Canada's international trade in services
2004
Highlights
- The deficit on Canada’s international trade in services increased
by $1.3 billion to $12.7 billion in 2004. Travel,
transportation and commercial services each represented one third of the deficit.
The increase was largely the result of a higher deficit in commercial services.
Overall, receipts increased by 3.8% to reach $61.8 billion
while payments rose by 5.0% to $74.5 billion.
- Following a year 2003 where travel had its worst performance
since 1994 due to a number of serious problems, notably the SARS
crisis, spending by foreign travellers in Canada rebounded by 13.1% in 2004.
The peak of $4.1 billion in the 2004 travel deficit was
generated by a 10.8% increase in expenditures of Canadians travelling
in other countries.
- Transportation services, covering both passengers and goods, showed
a deficit of $4.8 billion in 2004, similar to the $4.5 billion
of the previous year. Both receipts and payments increased by more than $1.0 billion
in the last year.
- The deficit on commercial services had the steepest increase, up $1.0 billion,
due to a $0.9 billion drop in receipts. Computer and information
services and management services accounted for over 80% of the decrease
in receipts.
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