Monthly Analysis of Trade Between Canada and the US, December 2025

December Trade Overview for Canada

In December, Canadian merchandise exports climbed by 2.6%, while imports edged up by 0.6%, as illustrated in chart 1. This activity led to a monthly trade deficit of $1.3 billion. For several consecutive months, unwrought gold has played a pivotal role in shaping export figures, with additional support from increased shipments of aircraft and other transportation-related goods. On the import side, gold was again a major factor behind the rise, accompanied by higher imports of vehicles and automotive parts.

For the entire year of 2025, the total value of Canadian goods exports slipped by 0.2%. Although gold exports saw notable growth, these gains were insufficient to counterbalance declines in other sectors.