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Canada's international trade in services, 2014

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Released: 2015-10-08

The deficit on international transactions in services edged up $0.2 billion to $23.4 billion in 2014. This change mainly reflected a higher deficit in the transportation account and, to a lesser extent, the travel account. On a geographical basis, the deficit with non-US countries widened, led by European and Asian countries, while the deficit with the United States narrowed.

Chart 1  Chart 1 : Services balances
Services balances

International transactions in services by category

The transportation services deficit advanced $0.2 billion to $9.8 billion in 2014. Payments were up $0.7 billion, led by higher spending for water transport. On the other hand, receipts rose by $0.4 billion with increases spread across the different modes (air, water, land and other).

The deficit on international travel edged up by $0.1 billion to a record $18.1 billion in 2014 as payments advanced more than receipts during the year. The travel deficit has expanded for a 10th consecutive year.

Canadians increased their spending on travel to countries other than the United States by $1.5 billion, reflecting a near 10% increase in the number of Canadians travelling to these destinations. This gain was partially offset by higher receipts from overseas travellers to Canada. During 2014, the Canadian dollar depreciated 7% against both the US dollar and the Euro.

The surplus on commercial services was largely unchanged at $4.0 billion in 2014. Exports increased by $1.3 billion, led by gains in management and financial services. Imports were also up by $1.3 billion, mostly on higher payments for financial services.

International transactions in services by geographical allocation

On a geographical basis, the overall deficit on international transactions in services with the United States narrowed by $0.7 billion to $14.5 billion. Higher receipts on commercial, travel and transportation services all contributed to lowering the deficit with the United States in 2014.

On the other hand, the deficit with non-US countries expanded by $1.0 billion. The deficit with Europe increased $0.5 billion to $4.9 billion as payments rose more than receipts. The deficit with Asian countries widened $0.4 billion to $2.6 billion on larger payments.

On a country basis, the largest deficits were with the United States (-$14.5 billion), Hong Kong (-$1.9 billion) and Mexico (-$1.5 billion).



  Note to readers

This is the annual release of Canada's detailed international transactions in services. This release contains country and service categories details for international transactions in services. Trade in services covers transactions in travel, transportation, a range of business and professional services referred to as commercial services, and government services.

The results for the reference year 2014 are preliminary and derived from a combination of the latest 2013 benchmark surveys and 2014 quarterly surveys.

Contact information

For more information, contact us (toll-free 1-800-263-1136; 514-283-8300; infostats@statcan.gc.ca) or Media Relations (613-951-4636; statcan.mediahotline-ligneinfomedias.statcan@canada.ca).

To enquire about the concepts, methods or data quality of this release, contact Denis Caron (denis.caron@canada.ca), International Accounts and Trade Division.

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