Canadian international trade in services, December 2024

Canada's monthly international trade in services deficit narrowed to $0.1 billion in December. Overall, imports of services declined 1.2% to $18.2 billion, while exports of services were up 0.8% to $18.1 billion.

Imports of commercial services declined 1.3% to $9.4 billion in December. Imports of transportation services (-2.3% to $3.3 billion) also fell, largely due to lower payments of passenger fares.

Exports of commercial services (+0.8% to $10.1 billion) rose in December, as did transportation services (+1.5%) and travel services (+0.7%).

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 4.9% to $69.5 billion in December, and total imports of goods were up 2.3% to $68.8 billion. This resulted in the goods trade balance moving from a deficit of $1.0 billion in November to a surplus of $0.7 billion in December. Combined, the trade balance for goods and services amounted to a surplus of $0.6 billion in December.

On an annual basis, exports of services increased 5.5% to $219.9 billion in 2024, and imports were up 5.5% to $217.3 billion. As a result, Canada's international trade in services surplus widened slightly from $2.6 billion in 2023 to $2.7 billion in 2024.