Data Insights

Overall, Canada's trade values in March 2026 showed a robust increase in both imports and exports compared to the previous month and the same month last year. Total exports reached CAD 68.76 billion, up by CAD 10.85 billion (18.74%) month-on-month and CAD 1.97 billion (2.95%) year-on-year. Total imports were CAD 71.72 billion, increasing by CAD 7.45 billion (11.60%) month-on-month and CAD 1 billion (1.41%) year-on-year. The trade balance remains a critical focus, especially with the ongoing discussions around tariffs and trade agreements influenced by recent geopolitical events.

In March 2026, Canada's trade values showed significant month-on-month changes. Imports from the United States reached CAD 33.93 billion, increasing by CAD 3.46 billion (11.36%). Mexico followed with CAD 5.2 billion, up by CAD 792.54 million (17.98%). China also saw a rise, with imports valued at CAD 7.15 billion, an increase of CAD 762.9 million (11.94%). On the lower end, imports from Ireland decreased to CAD 382.84 million, down by CAD 239.33 million (-38.47%). Trinidad and Tobago's imports fell to CAD 15.55 million, a drop of CAD 181.8 million (-92.12%). Australia also saw a decline, with imports at CAD 257.33 million, down by CAD 176.09 million (-40.61%). For exports, the United States led with CAD 45.53 billion, an increase of CAD 6.4 billion (16.36%). The United Kingdom followed with CAD 8.32 billion, up by CAD 2.14 billion (34.74%). Germany's exports reached CAD 1.09 billion, increasing by CAD 443.17 million (68.38%). On the downside, Panama's exports plummeted to CAD 11 million, down by CAD 240.33 million (-95.56%). Spain's exports decreased to CAD 125.26 million, a drop of CAD 207.49 million (-62.35%). Latvia's exports fell to CAD 1.37 million, down by CAD 106.74 million (-98.99%).

Year-on-year comparisons for March 2026 revealed notable shifts in trade values. Imports from Mexico totaled CAD 5.2 billion, an increase of CAD 613.39 million (13.38%). Germany's imports reached CAD 2.43 billion, up by CAD 346.27 million (16.65%). Vietnam also saw growth, with imports valued at CAD 1.79 billion, an increase of CAD 294.12 million (19.68%). Conversely, imports from the United States were CAD 33.93 billion, down by CAD 1.89 billion (-5.21%). China's imports decreased to CAD 7.15 billion, down by CAD 358.34 million (-4.79%). Saudi Arabia's imports fell to CAD 108.61 million, a decrease of CAD 123.97 million (-53.30%). On the export side, the United Kingdom led with CAD 8.32 billion, an increase of CAD 5.01 billion (151.05%). Exports to China reached CAD 3.64 billion, up by CAD 639.55 million (21.34%). Germany's exports totaled CAD 1.09 billion, an increase of CAD 514.33 million (89.14%). However, exports to the United States were CAD 45.53 billion, down by CAD 4.16 billion (-8.39%). Hong Kong's exports fell to CAD 99.11 million, down by CAD 234.51 million (-70.29%). Japan's exports decreased to CAD 1.2 billion, down by CAD 180.91 million (-13.09%).

Overall, Canada's total trade value for the month was 125.49B CAD, with exports at 63.47B CAD (up by 5.28B CAD or 9.06%) and imports at 62.02B CAD (down by 1.17B CAD or -1.84%). Year-on-year, total trade was 125.49B CAD, with exports at 63.47B CAD (down by 282.35M CAD or -0.44%) and imports at 62.02B CAD (up by 1.82B CAD or 3.02%).

In the month-on-month analysis, imports from Mexico saw the highest increase with a trade value of 5.19B CAD, reflecting a significant rise of 700.76M CAD (15.62%). Germany followed with imports valued at 2.39B CAD, increasing by 235.94M CAD (10.97%). Peru also showed a notable increase in imports, reaching 949.28M CAD, up by 220.48M CAD (30.25%). On the lower end, imports from the United States decreased by 739.65M CAD (2.72%), totaling 26.47B CAD. Switzerland's imports fell by 366.65M CAD (35.47%), while China saw a decrease of 332.32M CAD (4.53%).

Year-on-year, imports from Mexico increased significantly by 1.6B CAD (44.42%), totaling 5.19B CAD. Germany's imports rose by 568.08M CAD (31.25%), reaching 2.39B CAD. China also saw a modest increase of 382.76M CAD (5.79%), totaling 6.99B CAD. Conversely, imports from the United States dropped by 3.46B CAD (11.56%), totaling 26.47B CAD. Nigeria's imports decreased by 135.98M CAD (39.14%), while Saudi Arabia's imports fell by 112.78M CAD (49.96%).

The analysis indicates a notable decline in total trade values for Canada, with imports decreasing by 2.34B CAD (3.77%) and exports decreasing by 7.5B CAD (11.84%) month-on-month. Year-on-year, total imports decreased by 477.37M CAD (0.79%) and total exports decreased by 10.8B CAD (16.17%). The trade flow dynamics reveal significant fluctuations, particularly with imports from Mexico and exports to the United States showing substantial declines.

In the month-on-month analysis, imports from Ireland saw a significant increase of 215.95M CAD, representing a 65.51% rise, while imports from Mexico decreased by 840.5M CAD, a drop of 16.20%. Exports to Hong Kong surged by 402.87M CAD, a remarkable increase of 335.77%, whereas exports to the United States fell by 4.93B CAD, a decline of 11.47%. Overall, total imports decreased by 2.34B CAD (3.77%) and total exports decreased by 7.5B CAD (11.84%).

In the year-on-year analysis, imports from Mexico increased by 922.08M CAD, a rise of 26.93%, while imports from the United States decreased by 3.61B CAD, a drop of 12.27%. Exports to the United Kingdom increased by 2.78B CAD, a significant rise of 117.32%, while exports to the United States decreased by 14.55B CAD, a decline of 27.67%. Overall, total imports decreased by 477.37M CAD (0.79%) and total exports decreased by 10.8B CAD (16.17%).

Overall, the total trade value for Canada saw a decrease in exports by 2.31 billion CAD (-3.81%) and an increase in imports by 3.66 billion CAD (6.15%). The total trade flow indicates a growing reliance on imports, particularly from China and Mexico, while exports, especially to the United States, have significantly declined.

In the month-on-month analysis, imports from Switzerland saw the highest increase with a trade value of 1.03 billion CAD, reflecting a change of 313.14 million CAD (43.45%). Sweden followed closely with an increase of 575.78 million CAD (104.11%). France also showed a significant increase of 1.01 billion CAD, with a change of 194.29 million CAD (23.91%). On the downside, imports from the United States decreased by 4.11 billion CAD (-13.11%), while imports from China and Mexico fell by 738.1 million CAD (-9.15%) and 183.53 million CAD (-3.93%) respectively. The overall imports decreased by 5.73 billion CAD (-8.31%). Exports from Germany increased by 785.92 million CAD (52.63%), while exports to China rose by 3.92 billion CAD (6.55%). However, exports to the United States dropped by 3.44 billion CAD (-8.14%), contributing to an overall decrease in exports of 4.39 billion CAD (-7.01%).

In the year-on-year analysis, imports from China increased significantly by 1.02 billion CAD (16.13%), while imports from Mexico rose by 798.66 million CAD (21.66%). Vietnam also showed a strong increase of 635.35 million CAD (54.54%). Conversely, imports from the United States decreased by 4.57 billion CAD (-14.39%). The overall imports increased by 3.66 billion CAD (6.15%). On the exports side, exports to the United Kingdom increased by 1.59 billion CAD (56.02%), and exports to China rose by 1.21 billion CAD (44.64%). However, exports to the United States fell by 6.49 billion CAD (-14.33%), leading to an overall decrease in exports of 2.31 billion CAD (-3.81%).

The analysis indicates a robust month-on-month increase in total trade values for Canada, with imports rising by 5.06B (7.92%) and exports increasing by 2.55B (4.25%). Year-on-year, total imports also showed a significant increase of 7.99B (13.11%), while exports had a slight increase of 251.69M (0.40%). The most notable growth in imports came from Mexico and China, while exports to the United Kingdom and China saw substantial increases. However, trade with the United States showed declines in both imports and exports, indicating a potential area of concern for Canadian trade relations.

In the month-on-month analysis, imports from the United States saw a significant increase of 1.96B, representing a 6.69% rise. China also contributed positively with an increase of 809.02M (11.15%). Kazakhstan had an extraordinary growth of 315.98M, marking a staggering 217.23% increase. On the downside, imports from South Korea decreased by 171.51M (-12.48%), while Sweden and Belgium saw declines of 167.05M (-37.19%) and 70.55M (-18.06%) respectively. In terms of exports, the United Kingdom led with a remarkable increase of 2.61B (85.07%), followed by China with 1.18B (47.16%). The Netherlands also showed a strong performance with an increase of 467.36M (68.10%). Conversely, exports to the United States fell by 831.24M (-1.92%), with Switzerland and Germany also experiencing declines of 747.98M (-74.76%) and 341.99M (-39.39%). Overall, total imports increased by 5.06B (7.92%) while exports rose by 2.55B (4.25%).

In the year-on-year analysis, imports from Mexico increased by 1.42B (43.83%), while imports from China rose by 1.37B (20.51%). Vietnam also showed a strong increase of 708.13M (60.90%). On the contrary, imports from the United States decreased by 1.96B (-5.88%), with Belgium and Chile also seeing declines of 209.95M (-39.61%) and 84.92M (-34.49%) respectively. For exports, the United Kingdom had a notable increase of 2.9B (104.18%), followed by China with 640.25M (21.09%) and the Netherlands with 605.22M (109.36%). However, exports to the United States fell by 3.55B (-7.75%), with India and Singapore also experiencing declines of 270.67M (-50.75%) and 173.72M (-55.37%). Overall, total imports increased by 7.99B (13.11%) year-on-year, while exports saw a modest increase of 251.69M (0.40%).

Overall, the total trade for Canada saw a month-on-month increase in exports by 6.46B, resulting in a total of 60.03B, while imports decreased by 1.38B, totaling 63.86B. Year-on-year, imports increased by 1.12B to 63.86B, while exports saw a smaller increase of 359.79M, totaling 60.03B. This indicates a slight improvement in trade balance, although imports still outpace exports significantly.

In the month-on-month analysis, imports from Ireland saw the highest increase with a trade value of 490.7M, reflecting a significant growth of 1.23%. Brazil and Germany followed with increases of 949.11M and 2.16B respectively, showing growth rates of 0.38% and 0.10%. On the lower end, imports from South Africa decreased by 1.13B, a drop of -85.10%, while Switzerland and the United States also saw declines of 846.07M and 335.42M, with respective changes of -56.21% and -1.10%. For exports, the United States led with a substantial increase of 3.61B, a growth of 9.16%. Switzerland and Germany also experienced notable increases of 825.27M and 350.12M, with growth rates of 4.71% and 0.69%. Conversely, Hong Kong saw a decrease of 230.35M, a drop of -50.73%, followed by Italy and Vietnam with declines of 87.61M and 67.89M, reflecting -23.24% and -53.78% changes respectively.

In the year-on-year analysis, imports from Mexico showed the most significant increase with a trade value of 4.36B, reflecting a growth of 19.79%. Vietnam and Germany followed with increases of 1.77B and 2.16B, showing growth rates of 30.93% and 16.28%. On the downside, imports from the United States decreased by 1.96B, a drop of -6.26%, while China and Switzerland also saw declines of 413.05M and 198.95M, with respective changes of -5.39% and -23.22%. For exports, the United Kingdom led with an increase of 758.66M, a growth of 32.77%, followed by Switzerland and Germany with increases of 639.03M and 319.34M, reflecting growth rates of 176.80% and 59.40%. In contrast, exports to the United States decreased by 2.54B, a drop of -5.57%, while Japan and Romania also saw declines of 233.21M and 108.26M, with respective changes of -17.22% and -89.48%.