January 29, 2026
RED FM News Desk
Canada’s merchandise trade deficit expanded significantly in November, reaching $2.2 billion as the country’s export sector faced a sharp decline. According to the latest data from Statistics Canada, the deficit grew substantially from the $395 million gap recorded in October.
The primary driver of this imbalance was a 2.8 per cent drop in total exports, which fell to $63.9 billion for the month. This decline was largely attributed to a massive 24.4 per cent slump in the export of metal and non-metallic mineral products.
The automotive sector also took a significant hit, with exports of motor vehicles and parts decreasing by 11.6 per cent. This represents the lowest performance level for the sector in the last three years, highlighting a cooling demand in the international market.
On the other side of the ledger, total imports remained relatively stable, dipping only 0.1 per cent to $66.1 billion. While the overall import figure saw little change, there was a notable 4.5 per cent decrease in the importation of motor vehicles and parts, specifically regarding passenger cars and light trucks arriving from the United States.
When adjusted for volume, the trade dynamics showed a divergent trend: total export volumes fell by 0.9 per cent, while import volumes actually rose by 0.9 per cent during November. Economists view these figures as a sign of shifting global demand and varying domestic consumption patterns as the year draws to a close.
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