Lates News

Last year, Canada's trade deficit widened to 31.3 billion Canadian dollars, setting a new record for annual trade deficit outside of the COVID-19 pandemic. The reason for this was the heavy impact of the United States imposing tariffs on Canada's main export industries. In addition to the partial stagnation of commercial activities due to public health measures in 2020, Canada's trade deficit in 2025 is the largest since data recording began in 1988. Last year, Canada's annual export decreased by 0.2%, with most product categories experiencing a decline in export value. However, the strong rise in gold prices has masked the true damage caused by the trade war with the United States on Canada's exports. The export volume of unprocessed gold, silver, platinum group metals, and their alloys surged by 41.7% last year. Excluding that category, Canada's export value would have plummeted by 3%.