Canadian international trade in services, January 2025

Canada's monthly international trade in services deficit widened to $0.8 billion in January. Overall, exports of services declined 1.1% to $17.7 billion, while imports of services were down 0.4% to $18.5 billion.

Exports of travel services declined 3.2% to $5.2 billion in January. Exports of commercial services were down slightly (-0.4%), while transportation services rose slightly (+0.5%).

Imports of travel services declined 5.3% to $4.8 billion in January, largely due to lower spending by Canadian resident travellers in the United States. Imports of commercial services increased 2.2% to $10.2 billion in January, mainly due to higher imports of financial services, and partially offset the overall decrease in imports.

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 5.5% to $74.5 billion in January, and total imports of goods were up 2.3% to $70.5 billion. This resulted in the goods trade surplus increasing from $1.7 billion in December 2024 to $4.0 billion in January 2025. Combined, the trade balance for goods and services amounted to a surplus of $3.2 billion in January.