In 2023, the value of Canada's annual merchandise exports decreased 1.4% to $768.2 billion, while the value of annual imports rose 1.4% to $770.2 billion. As a result, Canada's merchandise trade balance with the world went from a surplus of $19.7 billion in 2022 to a slight deficit of $1.9 billion in 2023. Compared with the total trade value (imports and exports combined totalled $1.54 trillion), the trade deficit represented approximately 0.1% of total trade in 2023. Therefore, Canada's merchandise trade for 2023 was essentially in a balanced position.
To explore Canada's international merchandise trade statistics for 2023 in an interactive format, see "The International Trade Explorer" and the "International trade monthly interactive dashboard."
Contact information
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