Canadian international merchandise trade, January 2022

March 9, 2022

In January, Canada's merchandise imports fell 7.4%, with decreases observed in nearly all product sections. This follows three months of strong growth for total imports. Meanwhile, exports edged down 0.2%, mainly on lower exports of passenger cars and light trucks. A 4.6% drop in real (or volume) terms was almost entirely offset by an increase in export prices. Excluding energy products, exports were down 2.7%. As a result, after posting its first deficit in seven months in December 2021, Canada's merchandise trade balance swung back into a surplus position in January 2022. It went from a $1.6 billion deficit in December to a $2.6 billion surplus in January 2022.

Exports to the United States rose 1.2% in January, while imports from that country were down 4.7%. As a result, Canada's trade surplus with the United States widened from $7.1 billion in December 2021 to $9.3 billion in January 2022, the largest trade surplus since July 2008.

This is an excerpt from the Statistics Canada article: https://www150.statcan.gc.ca/n1/daily-quotidien/220308/dq220308a-eng.htm

Topic(s)

International Trade and Border Management

Information source

Other Government Departments (OGDs)

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