Canada trade deficit narrows as exports to United States hit record low share
Canada's trade deficit narrowed to 1.31 billion dollars in December as gold exports surged. The share of exports to the U.S. dropped to a near-record low.
Statistics Canada reported on February 19, 2026, that the merchandise trade deficit for Canada 
CA narrowed to C$1.31 billion in December. This improvement followed a revised deficit of C$2.59 billion in November, as exports grew at a faster rate than imports during the final month of the year. The national trade balance dynamics were largely influenced by a surge in shipments from the metals and non-metallic mineral products sector, with unwrought gold playing a particularly prominent role in the export gains.
CA narrowed to C$1.31 billion in December. This improvement followed a revised deficit of C$2.59 billion in November, as exports grew at a faster rate than imports during the final month of the year. The national trade balance dynamics were largely influenced by a surge in shipments from the metals and non-metallic mineral products sector, with unwrought gold playing a particularly prominent role in the export gains.
