Canadian international trade in services, February 2023

Released: 2023-04-05

Canada's monthly international trade in services deficit widened from $2.0 billion in January to $2.2 billion in February. Overall, exports of services were down 1.3% to $14.0 billion, while imports increased 0.4% to $16.2 billion.

To explore the most recent results of Canada's international trade in services in an interactive format, see the International trade monthly interactive dashboard.

Chart 1 
International trade in services

Exports of travel services rose 2.3% in February to $3.2 billion, following a 0.7% decline in January. Meanwhile, imports of travel services were up 1.0% to $3.6 billion in February.

Exports of transportation services declined 4.3% from January to $1.6 billion in February, largely due to lower receipts from the transport of merchandise by air. Imports of transportation services increased 2.9% to $3.2 billion in February, mostly on higher payments related to the transport of merchandise by water.

Exports of commercial services were down 2.0% from January to $9.1 billion in February. At the same time, imports of commercial services decreased 0.7% to $9.3 billion, largely because of lower financial services.

Chart 2 
International trade in services, balances

In February, total exports of goods decreased 2.4% from January to $65.0 billion, and total imports of goods were down 1.3% to $64.6 billion, resulting in a surplus of $422 million. Combined, the trade balance for goods and services amounted to a deficit of $1.8 billion in February, compared with a deficit of $766 million in January.

The services trade deficit in January, originally reported at $2.3 billion in the previous release, was revised to $2.0 billion with the current reference month's release. Imports were revised down by $213 million, mainly because of downward revisions to commercial services. Exports were revised up by $119 million, mainly because of upward revisions to travel services.

Products

The updated Canada and the World Statistics Hub (Catalogue number13-609-X) is available online. This product illustrates the nature and extent of Canada's economic and financial relationship with the world using interactive charts and tables. It provides easy access to information on trade, investment, employment and travel between Canada and a number of countries, including the United States, the United Kingdom, Mexico, China, Japan, Belgium, Italy, the Netherlands, and Spain.

The Methodological Guide: Canadian System of Macroeconomic Accounts (Catalogue number13-607-X) is available.

The User Guide: Canadian System of Macroeconomic Accounts (Catalogue number13-606-G) is also available. This publication will be updated to maintain its relevance.

Contact information

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