Canada's October Trade Deficit Driven by Gold and Diversification
TL;DR
In October 2025, Canada's merchandise imports increased by 3.4% and exports by 2.1%, leading to a shift from a trade surplus of $243 million in September to a deficit of $583 million, driven by higher imports of electronics, metals, and machinery, and increased exports of gold and motor vehicles, while trade with the US narrowed.
- The Daily — Canadian international merchandise trade, October 2025 Statistique Canada
- Canada Swings to Goods-Trade Deficit of C$583 Million in October The Wall Street Journal
- Canada's share of exports to U.S. hit lowest level in decades in October CBC
- Canada Exports to Non-US Countries Hit Record on Gold Bloomberg.com
- Canada swings to trade deficit in October as gold leads diversification push The Globe and Mail
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