Canada Trade balance
Balance of Trade in Canada is reported by the STCA - Statistics Canada, from 1971 until
The Canada Balance of Trade averaged CAD 1,714.5 Million reaching an all time high of CAD 8,590 Million in January of 2001 and a record low of deficit by CAD 2,530 Million in July of 2012. International trade makes up a large part of the Canadian economy. The said exports amount to more than 65% of Canadian GDP.The United States is by far its largest trading partner, accounting for about 79% of exports
and 54% of imports as of 2008 statistics. Canada is one of the few developed nations thatare a net exporter of energy. Canada imports mostly machinery and equipment, motor vehicles and parts, electronics, chemicals, electricity and durable consumer goods, Inaddition of its huge Crude Oil inventories.
Previously Canada announced a deficit of CAD 1,200 Million for the month of July which rides the CAD down in the financial market.
Today 8th, October 2013 Canada announced a deficit of CAD 1,300 Million, which is 0.8% higher than the previous one and much higher than financial market analysts forecasts with a deficit of CAD 700 Million.