Trade Surplus Widens in January Amid Tariff Threats
U.S. tariff threats influenced trade in December and January. The United States government announced that tariffs on Canadian goods would be imposed, which may have induced importers to increase shipments to avoid additional costs. Exports to the United States rose 7.5 per cent in January—reaching a record for a second consecutive month.
Pushing the Boundaries: Canada’s Outlook to 2045
Canada’s economy will need to navigate a long sequence of challenges over the next 20 years. Demographic shifts will lead to gaps in the labour market and put pressure on government finances. The march toward lower greenhouse gas emissions will limit investment in Canada’s abundant oil and gas sector. Meanwhile, climate and geopolitical risks will remain escalated, adding another threat to the country’s long-term prosperity.
Our Analysis of the British Columbia Budget 2025
British Columbia is entering a new period of economic uncertainty from a difficult position. Before the pandemic, the province’s fiscal position was among the most favourable in the country. However, that seems like a distant memory. British Columbia’s deficit in 2024–25 is among the largest in Canada, and looking ahead, this trend is unlikely to change.
Featured Insights
Employment Stable in February Amid Looming Trade War
Canadian Economics March 7, 2025
Canada’s labour market encountered significant challenges in 2024, characterized by a gradual slowdown. Employment rose by just 1.6 per cent — well below the rate of population growth. Nevertheless, job gains have been positive over the past seven months, and employment growth began to regain momentum in November.
Quick take • 2-min read
Maxime Arseneau
Trade Partner Profile: The European Union
Canadian Economics March 3, 2025
Overall, trade between Canada and the European Union is already strong, and there is lots to build on as Canada enters a changing world. Canada sells many of its resources to Europe, and the bloc’s imports indicates there is even more room for Canadian exports to gain market share.
Quick take • 2-min read
CBoC Economics Team
Economy Sees Better End to the Year
Canadian Economics February 28, 2025
The Canadian economy finished the year on a positive note. The Bank of Canda has cut interest rates by 200 basis points since June, which helped to spur an increase in spending and housing activity in the fourth quarter. The labour market has also showed signs of turning around in recent months, with stronger job gains than anticipated since November.
Quick take • 3-min read
Viktor Cicman
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