Canada's international trade in services, 2015
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Released: 2016-10-17
Canada's deficit on international transactions in services edged up $0.3 billion to $24.5 billion in 2015. The deficit with non-US countries widened by $2.2 billion, while the deficit with the United States narrowed by $1.9 billion to its lowest level since 2009.
In terms of service categories, a lower surplus in commercial services combined with a higher deficit in transportation services contributed to the increase in the overall deficit in 2015. These changes were moderated by a smaller deficit in travel services.
Chart 1
Services balances
International transactions in services by category
The international travel deficit narrowed by $1.0 billion to $17.3 billion in 2015, following a record deficit in 2014. The deficit with the United States decreased by $2.1 billion, as Canadians reduced their travel expenses in the United States and Americans increased their spending in Canada. This change was moderated by a higher travel deficit with non-US countries. The increase in expenditures by Canadians on their overseas trips outpaced that of non-US travellers visiting Canada.
The surplus in commercial services was down by $1.0 billion in 2015, as growth in payments outpaced that of receipts. Imports of commercial services were up by $3.4 billion, led by stronger payments in the financial services category. Exports rose by $2.4 billion, with larger receipts also recorded in financial services.
The transportation services deficit increased by $0.4 billion to $10.2 billion in 2015. Payments were up by $0.8 billion, mainly as a result of higher spending on water transportation. Receipts rose by $0.4 billion, with gains in both air and land transportation.
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 $1.9 billion to $12.4 billion in 2015, the lowest level since 2009. This change mainly reflected a smaller travel services deficit and, to a lesser extent, a lower deficit in transportation services. This was partially offset by a lower surplus on commercial services.
On the other hand, the deficit with non-US countries expanded by $2.2 billion. The deficit with Europe increased by $1.6 billion to $6.6 billion, led by higher deficits with the United Kingdom and France. The deficit with Asian countries widened by $0.3 billion to $3.6 billion, mainly on a higher deficit with Japan.
Note to readers
This is the annual release of Canada's detailed international transactions in services. This release contains details by country and service category for international transactions in services. Trade in services covers transactions in travel services, transportation services, a range of business and professional services referred to as commercial services, and government services.
The results for the 2015 reference year are preliminary and were derived from a combination of the latest 2014 benchmark surveys and 2015 quarterly surveys.
Contact information
For more information, contact us (toll-free 1-800-263-1136; 514-283-8300; STATCAN.infostats-infostats.STATCAN@canada.ca).
To enquire about the concepts, methods or data quality of this release, contact Denis Caron (613-808-2278; denis.caron@canada.ca), International Accounts and Trade Division.
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