Canadian international trade in services, November 2024

Canada's monthly international trade in services deficit was essentially unchanged in November, at $0.3 billion. Overall, exports of services declined 0.2% to $18.2 billion, and imports of services edged down 0.1% to $18.5 billion.

Exports of commercial services decreased 1.8% to $10.3 billion in November, but this decline was largely offset by higher exports of travel services (+3.3%). The increase in travel services was mainly because of higher spending by US resident travellers in Canada.

Imports of commercial services declined 1.8% to $9.8 billion in November. Imports of transportation services rose 3.6% to $3.4 billion, largely due to higher payments for maritime transportation services for goods entering Canada.

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

Note: Data are seasonally adjusted.

Source: Table 12-10-0144-01.

Total exports of goods increased 2.2% to $66.1 billion in November, and total imports of goods were up 1.8% to $66.4 billion. This resulted in a narrowing of the goods trade deficit from $0.5 billion in October to $0.3 billion in November. Combined, the trade balance for goods and services amounted to a deficit of $0.6 billion in November.