Canadian international trade in services deficit widened to C$314M in January from C$172M in December; imports of services declined 2.8% to C$11.9B, exports down 4.0% to C$11.6B: Statistics Canada

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OTTAWA , March 8, 2022 (press release) –

Canada's monthly international trade in services deficit widened from $172 million in December 2021 to $314 million in January 2022. Overall, exports of services declined 4.0% to $11.6 billion, while imports were down 2.8% to $11.9 billion.

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

Following increases throughout the second half of 2021, travel services declined in January 2022. On December 21, 2021, the requirement for all travellers entering Canada, regardless of the length of their trip, to provide a negative COVID-19 molecular test came into force as the Omicron variant continued to spread rapidly. In January 2022, imports of travel services were down 15.4% to $1.3 billion, while exports of travel services decreased 10.9% to $1.8 billion.

Imports of transportation services were down 2.8% to $2.6 billion in January, mainly due to lower payments related to the marine shipment of goods. Exports of transportation services decreased 12.4% to $1.2 billion, primarily due to lower receipts of passenger fares and other services related to air transportation.

Chart 2: International trade in services, exports

Chart 3: International trade in services, imports

Chart 4: International trade in services, balances

By comparison, total imports of goods fell 7.4% to $54.0 billion in January, while total exports of goods edged down 0.2% to $56.6 billion, resulting in a surplus of $2.6 billion. Combined, the trade balance for goods and services amounted to a $2.3 billion surplus in January 2022, a $4.1 billion change from a combined deficit of $1.8 billion in December 2021.

Chart 5: International trade in goods and services, January 2022

The services trade deficit for December 2021, first reported at $476 million, was revised down to $172 million with the release of January 2022 data. Exports of services were revised up by $280 million, on upward revisions to travel services and commercial services. Imports of services were revised down by $24 million, mainly due to commercial services. The revisions reflected in the January 2022 data are primarily due to the integration of quarterly benchmark data from the balance of payments for the fourth quarter of 2021, as well as revisions to the other quarters of 2021.

Canada's trade relationship with Russia
Canada has responded to the situation in Ukraine by imposing further restrictions on trade with Russia. Some sanctions have already been in place since 2014, when Russia annexed Crimea. In 2021, Canada's imports of services from Russia amounted to $917 million, and exports totalled $320 million, which represented 0.7% and 0.2%, respectively, of Canada's total imports and exports of services for that year.

Note to readers
COVID-19 and additional data sources
Circumstances surrounding the COVID-19 pandemic pose issues for the production of monthly international trade in services statistics, particularly for travel and transportation services.

To better capture the effects of the pandemic, Statistics Canada is incorporating data from the Canada Border Services Agency's primary inspection kiosks into its monthly international trade-in-services program. These are electronic customs declaration kiosks that have been installed in most major Canadian airports. While these data represent only a subset of total travellers, they provide relevant and timely insights.

Further information on the estimation methodology is available upon request.

Products
The updated Canada and the World Statistics Hub (Catalogue number13-609-X) is available online. It illustrates the nature and extent of Canada's economic and financial relationship with the world using interactive charts and tables. This product provides easy access to information on trade, investment, employment and travel between Canada and a number of countries, including the United States, the United Kingdom, Mexico, China, Japan, Belgium, Italy, the Netherlands, and Spain.

The Methodological Guide: Canadian System of Macroeconomic Accounts (Catalogue number13-607-X) is available.

The User Guide: Canadian System of Macroeconomic Accounts (Catalogue number13-606-G) is also available. This publication will be updated to maintain its relevance.

Contact information
For more information, or to enquire about the concepts, methods or data quality of this release, contact us (toll-free 1-800-263-1136; 514-283-8300; infostats@statcan.gc.ca) or Media Relations (statcan.mediahotline-ligneinfomedias.statcan@statcan.gc.ca).

Industry Intelligence Editor's Note: This press release omits select charts and/or marketing language for editorial clarity. Click here to view the full report.

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