Canadian international trade in services, February 2025

Canada's monthly international trade in services deficit widened from $0.6 billion in January to $0.7 billion in February. Overall, exports of services declined 1.6% to $17.7 billion, while imports of services were down 0.8% to $18.3 billion.

Exports of transportation services declined 7.7% to $1.9 billion in February, largely due to lower receipts of passenger fares. Exports of commercial services (-0.5%) and travel services (-1.3%) also recorded decreases.

Imports of commercial services decreased 2.0% to $10.0 billion in February, following an increase of 2.5% in January. Both the increase in January and the decrease in February were largely due to imports of financial services. Imports of travel services (+0.4%) rose slightly in February, as lower spending by Canadian-resident travellers in the United States was more than offset by higher spending by Canadian-resident travellers in non-US countries. The lower spending in the United States occurred as the number of Canadian-resident return trips from the United States recorded a steep decline on a year-over-year basis.

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 fell 5.5% to $70.1 billion in February, while total imports of goods were up 0.8% to $71.6 billion. This resulted in the goods trade balance going from a surplus of $3.1 billion in January to a deficit of $1.5 billion in February. Combined, the trade balance for goods and services amounted to a deficit of $2.2 billion in February.