Statistics Canada announced that Canada’s merchandise exports fell 2.8% in November, while imports edged down 0.1%. As a result, Canada’s merchandise trade deficit with the world widened from $395 million in October to $2.2 billion in November.
The Federal Agency notes that total exports fell despite increases observed in 8 of the 11 product sections. Exports of metal and non-metallic mineral products posted the largest decline in November. Excluding exports of this product section, total exports increased 2.5% in November.
As for imports, declines were observed in 7 of the 11 product sections. Imports of motor vehicles and parts (-4.5%) posted the largest decrease.
After rising 5.4% in October, imports from the United States fell 5.4% in November, reaching their lowest level since February 2022. Meanwhile, exports to the United States decreased 1.8% in November 2025, a second consecutive monthly decline. In the first 11 months of 2025, exports to the United States were down 4.9% compared with the same period in 2024. In November 2025, Canada’s merchandise trade surplus with the United States totalled $6.6 billion, an increase from the $5.2 billion surplus observed in October.
Imports from countries other than the United States rose 7.8% in November, reaching an all-time high. Imports from China (various products), Germany (various products) and Belgium (pharmaceutical products) contributed the most to the growth. After increasing 27.7% from August to October, exports to countries other than the United States fell 4.9% in November. Lower exports to the United Kingdom (gold), Hong Kong (gold) and the Netherlands (crude oil) were mainly responsible for the decline. Canada’s trade deficit with countries other than the United States widened from $5.6 billion in October to $8.8 billion in November.