CANADA'S INT'L MERCHANDISE TRADE DEFICIT WIDENS IN 2025

OTTAWA, Feb 20 (Bernama-Xinhua) -- Canada's annual merchandise trade deficit widened significantly to C$31.3 billion (about US$22.8 billion) in 2025, the largest deficit since 2020, Statistics Canada said Thursday, reported Xinhua.

It followed consecutive deficits of C$933 million in 2023 and C$7.2 billion in 2024, according to data released by the national statistical agency.

Total exports edged down 0.2 per cent in 2025, with seven of the 11 major product sections contributing to the decline. The downturn was led by energy products, which saw a 6.9 per cent decrease mainly due to lower prices, it said.

The overall export decline was almost entirely offset by a 41.7 per cent increase in exports of unwrought gold, silver, and platinum group metals, and their alloys. Excluding exports of this product group, Canada's annual exports were down 3 per cent, said the agency.

Total imports rose 2.8 per cent in 2025. The growth was driven by a 33.6 per cent surge in metal ores and non-metallic minerals, a 6.4 per cent increase in electronic and electrical equipment and parts, and a 4.7 per cent rise in consumer goods, it added.

According to the agency, last year's exports to the United States were down 5.8 per cent, while imports decreased 2.9 per cent. As a result, Canada's trade surplus with the United States narrowed to C$81.6 billion, down from C$101.3 billion in 2024.

In contrast, Canada's trade with non-US partners showed robust growth with exports rising 17.2 per cent in 2025 and imports up 12.4 per cent, said Statistics Canada. (C$1 = US$0.73) 

--BERNAMA-XINHUA