格隆汇2月19日｜去年加拿大贸易逆差扩大至313亿加元，创下新冠疫情之外的最大年度贸易逆差纪录， 原因是美国加征关税重创了加拿大的主要出口行业。除了2020年公共卫生措施导致部分商业活动停滞 外，加拿大2025年的贸易逆差是自1988年有数据记录以来最大的。去年加拿大年度出口额下降了 0.2%，大多数产品类别出口额都下降。然而，金价的强劲上涨掩盖了与美国的贸易战对加拿大出口造 成的真正损害。去年，未加工黄金、白银、铂族金属及其合金的出口量激增41.7%。若剔除该类别，加 拿大出口额则大幅下降3%。 ...

Core Viewpoint - Canada's trade balance has shifted back to a deficit due to a significant increase in imports of computers and electronic products, which outweighed the surge in gold exports to countries outside the U.S. [1] Trade Balance - In October, Canada recorded a trade deficit of 583 million CAD (421 million USD), which was smaller than the market expectation of a 1.5 billion CAD deficit [1] - The proportion of exports to the U.S. fell to 67.3%, the lowest level since data collection began in 1997, excluding pandemic periods [1] Exports and Imports - Exports to the U.S. decreased by 3.4% in October, primarily due to declines in aircraft and gold exports [1] - Overall imports increased by 3.4% in October, driven by record imports of computers and computer parts, including processing units from Ireland [1] - Total exports rose by 2.1%, mainly supported by a 47.4% increase in unrefined gold, silver, and platinum exports, particularly to the UK [1] - Energy exports saw a decline of 8.4% [1]