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flag Canada's trade deficit widened in November 2026 due to falling exports and a shrinking services surplus, despite a growing surplus with the U.S.

flag Canada's merchandise trade deficit widened to $2.2 billion in November 2026 from $395 million in October, driven by a 2.8% drop in exports, particularly in gold and motor vehicles, and a slight 0.1% decline in imports. flag Exports to non-U.S. markets fell 4.9%, while imports from those regions hit a record high, widening the deficit with non-U.S. countries to $8.8 billion. flag Despite a growing trade surplus with the U.S. of $6.6 billion, a sharp drop in the services trade surplus—from $422 million to $11 million—contributed to a combined goods and services deficit. flag Economists cite ongoing uncertainty over tariffs and trade agreements as key challenges.

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