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5. Canada's Trade and Investment Performance

Monthly Merchandise Trade Report

Monthly report on Canada's international merchandise trade performance, April 2013

PDF Version (229 KB)^*

Summary

Canadian merchandise exports declined 0.2% to $40.3 billion in April. The monthly decline was due to a fall in export prices, down 0.7%, as volumes increased 0.5 percent from the previous month. The decline was also due to falling exports to non-U.S. destinations; exports to the U.S. were up 1.8%. Imports continued to rise for the fourth consecutive month, increasing 1.2% to reach a record high of $40.8 billion in April. Consequently, Canada’s trade deficit with the world worsened from $3 million in March to $567 million in April.

Canadian merchandise exports

Canadian merchandise exports edged down 0.2% to $40.3 billion in April due to falling prices. Prices declined 0.7% while volumes were up 0.5% from the previous month. Despite the monthly decline, year-to-date Canadian merchandise exports were 1.0 percent higher in 2013 than compared to the first four months of 2012.

• A large 10.6-percent increase in metals and non-metallic mineral products was offset by declines in metal ores and non-metallic minerals, energy products, industrial machinery, equipment and parts and smaller declines in aircraft and other transport equipment as well as farm, fishing and intermediate food products.
• On a geographical basis, merchandise exports increased 1.8% to the United States, but fell 14.8% to Japan and 9.2% to the EU. Exports to all other trading partners declined 2.2% from March to April.

Canadian merchandise imports

Canadian merchandise imports rose for the fourth consecutive month, increasing 1.2% to reach a record $40.8 billion. The continuous monthly increases in Canadian imports partly reflects Canada’s solid economic growth, with Canadian GDP increasing 2.5% in the first quarter of 2013. Year-to-date Canadian merchandise imports were 1.4% higher than the same period last year.

• The monthly gain in imports was led by imports of energy products, motor vehicles and parts, and metal ores and non-metallic minerals.
• Imports from the U.S. and Japan both rose by 1.9% while imports from the EU climbed 9.4%. Canadian imports from all other destinations fell 3.6% from March to April.

Canada’s merchandise trade balance

Canada’s merchandise trade balance worsened from a deficit of $3 million in March to a deficit of $567 million in April. The $3-million deficit in March was revised down from a previously reported surplus of $24 million.

• Canada’s monthly trade surplus with the United States rose from $3.8 billion in March to $3.9 billion in April.
• Canada’s deficit with the rest of the world (non-U.S. trade partners) expanded from $3.8 billion in March to $4.4 billion in April.

1. Dollar value ($ millions) is given for the trade balance.

2. Chinese trade data is only available on a customs basis, whereas all other data are on a balance of payments basis and are therefore not strictly comparable.

3. Bank of Canada commodity price index: a chain Fisher price index of the US dollar prices of 24 commodities produced in Canada and sold in world markets, with weights updated on an annual basis.

4. Canadian dollar effective exchange rate index: a Bank of Canada trade-weighted index which measures the value of the Canadian dollar vis-à-vis the currencies of its most important trading partners.

5. The time series trade data do not include revisions to the historical figures.

6. Bank of Canada commodity price index, see previous page for details.

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Date Modified:

2013-06-04