Canadian international merchandise trade, December 2020

February 5, 2021

In December, Canada's merchandise exports rose 1.5%, with energy product exports posting the largest increase. Imports fell 2.3%, mainly because of lower imports of consumer goods. As a result, Canada's merchandise trade deficit with the world narrowed from $3.6 billion in November to $1.7 billion in December, the lowest deficit since June 2020.

For the year 2020, Canada's trade deficit totalled $36.2 billion, more than double the deficit observed in 2019. Total merchandise exports fell 12.3% in 2020, while imports were down 8.6%. By comparison, during the last major economic downturn, in 2009, annual merchandise exports dropped 24.6% and imports fell 15.7%...

This has been excerpted from a 5 February 2021 release by Statistics Canada.

Topic(s)

International Trade and Border Management

Information source

Other Government Departments (OGDs)

Disclaimer

The foregoing information is provided for informational purposes only and is not intended as, nor should it be considered, professional advice or a substitute for conducting your own thorough research and review. Before making any decisions or taking any action based on the information provided, you should conduct your own independent investigation and/or seek professional advice from a qualified expert in the relevant field. The CSCB disclaims all liability for actions taken or not taken based on the information provided.

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