Canada’s dairy trade deficit widened to C$94.5M in July 2026 — imports (C$132.9M) topped exports (C$38.4M) by more than three to one, a gap unbroken since January 2024. Cheese and butter drive the import bill, sourced mainly from the U.S., Italy, and New Zealand. Full-year 2025 imports hit C$1.50 billion, up 16.9% over 2024, while exports held flat near C$525 million, led by whey and milk constituents; the U.S. and Egypt lead its export markets.
Canada Dairy · Monthly trade report
Canadian Dairy Trade Monitor
Imports and exports of dairy products (HS 0401–0406), January 2024 through July 2026. Statistics Canada trade data as republished by UN Comtrade, converted to Canadian dollars.
Latest reference month: July 2026 · Report generated 18 September 2026 · Values converted to C$ at Bank of Canada monthly average rates
Prepared by CACL Consulting for Canada Dairy membership.
Exports — July 2026
C$38.4M
H1 2026 vs H1 2025: −7.8%
Imports — July 2026
C$132.9M
H1 2026 vs H1 2025: −3.9%
Trade balance — July 2026
−C$94.5M
Deficit in every month since Jan 2024
Imports, full-year 2025
C$1.50B
vs 2024: +16.9% · exports flat at C$525M
Units
Applies to every chart and table below.
1 · Total dairy trade by month
All dairy products combined. Imports have run well ahead of exports in every month of the period.
Total dairy imports and exports, C$ per month
Monthly totals, Jan 2024 – Jul 2026
ImportsExports
Dairy trade balance, C$ per month
Exports minus imports. Every bar is below zero.
Table · monthly totals
| Month | Exports | Imports | Balance |
|---|---|---|---|
| Jan 2024 | 42.96 | 75.11 | -32.15 |
| Feb 2024 | 40.39 | 82.18 | -41.79 |
| Mar 2024 | 37.82 | 96.01 | -58.19 |
| Apr 2024 | 38.81 | 103.82 | -65.00 |
| May 2024 | 49.33 | 109.27 | -59.94 |
| Jun 2024 | 43.62 | 105.16 | -61.53 |
| Jul 2024 | 48.27 | 106.98 | -58.71 |
| Aug 2024 | 44.61 | 102.16 | -57.55 |
| Sep 2024 | 42.77 | 104.26 | -61.49 |
| Oct 2024 | 49.97 | 127.43 | -77.45 |
| Nov 2024 | 42.75 | 132.85 | -90.10 |
| Dec 2024 | 49.11 | 141.69 | -92.58 |
| Jan 2025 | 56.01 | 120.59 | -64.58 |
| Feb 2025 | 50.65 | 124.89 | -74.24 |
| Mar 2025 | 44.54 | 146.06 | -101.52 |
| Apr 2025 | 39.09 | 114.67 | -75.58 |
| May 2025 | 37.02 | 121.05 | -84.03 |
| Jun 2025 | 36.14 | 127.91 | -91.78 |
| Jul 2025 | 39.01 | 115.42 | -76.41 |
| Aug 2025 | 39.06 | 121.76 | -82.71 |
| Sep 2025 | 46.02 | 105.65 | -59.64 |
| Oct 2025 | 46.84 | 141.82 | -94.98 |
| Nov 2025 | 45.00 | 154.29 | -109.29 |
| Dec 2025 | 46.02 | 110.47 | -64.45 |
| Jan 2026 | 40.57 | 94.62 | -54.05 |
| Feb 2026 | 40.10 | 109.39 | -69.28 |
| Mar 2026 | 40.09 | 132.07 | -91.98 |
| Apr 2026 | 37.64 | 125.09 | -87.46 |
| May 2026 | 43.73 | 130.61 | -86.88 |
| Jun 2026 | 40.80 | 133.81 | -93.01 |
| Jul 2026 | 38.42 | 132.93 | -94.50 |
2 · Trade by dairy product
The six HS-4 dairy product groups. Whey and milk constituents lead exports; cheese and butter dominate the import bill.
Milk & cream · 0401Milk powders & concentrated · 0402Yogurt & fermented milk · 0403Whey & milk constituents · 0404Butter & dairy fats · 0405Cheese & curd · 0406
Exports by product, C$ per month
Stacked monthly exports by product group
Imports by product, C$ per month
Stacked monthly imports by product group
Table · exports by product
| Month | 0401 | 0402 | 0403 | 0404 | 0405 | 0406 |
|---|---|---|---|---|---|---|
| Jan 2024 | 1.59 | 6.20 | 7.95 | 16.08 | 1.07 | 10.08 |
| Feb 2024 | 1.43 | 4.99 | 8.97 | 15.08 | 0.55 | 9.38 |
| Mar 2024 | 1.18 | 6.60 | 9.20 | 9.36 | 0.28 | 11.21 |
| Apr 2024 | 1.23 | 4.99 | 9.54 | 11.65 | 1.30 | 10.11 |
| May 2024 | 1.23 | 10.96 | 10.05 | 14.96 | 1.11 | 11.02 |
| Jun 2024 | 1.16 | 8.15 | 9.81 | 14.09 | 0.06 | 10.35 |
| Jul 2024 | 1.17 | 7.24 | 10.17 | 18.84 | 0.27 | 10.57 |
| Aug 2024 | 1.16 | 6.27 | 10.67 | 11.92 | 0.39 | 14.19 |
| Sep 2024 | 1.29 | 4.73 | 10.67 | 12.44 | 0.33 | 13.31 |
| Oct 2024 | 1.15 | 8.01 | 11.09 | 16.28 | 0.17 | 13.27 |
| Nov 2024 | 1.43 | 4.91 | 10.11 | 13.96 | 0.24 | 12.10 |
| Dec 2024 | 1.36 | 5.72 | 10.52 | 14.82 | 1.50 | 15.19 |
| Jan 2025 | 1.39 | 5.64 | 12.89 | 18.79 | 1.10 | 16.19 |
| Feb 2025 | 1.80 | 5.29 | 13.48 | 16.60 | 1.62 | 11.85 |
| Mar 2025 | 1.43 | 6.25 | 9.86 | 14.29 | 0.89 | 11.82 |
| Apr 2025 | 1.27 | 6.25 | 7.23 | 14.58 | 1.28 | 8.47 |
| May 2025 | 1.42 | 3.55 | 7.51 | 13.15 | 1.21 | 10.18 |
| Jun 2025 | 1.28 | 5.22 | 7.57 | 10.59 | 1.87 | 9.61 |
| Jul 2025 | 1.14 | 6.65 | 7.83 | 13.39 | 1.71 | 8.30 |
| Aug 2025 | 2.79 | 3.19 | 8.06 | 14.62 | 0.93 | 9.47 |
| Sep 2025 | 1.71 | 5.91 | 9.19 | 16.09 | 2.17 | 10.96 |
| Oct 2025 | 1.14 | 5.02 | 8.76 | 15.82 | 1.42 | 14.68 |
| Nov 2025 | 0.97 | 3.71 | 8.72 | 14.06 | 2.72 | 14.83 |
| Dec 2025 | 1.02 | 6.94 | 9.51 | 12.20 | 2.29 | 14.07 |
| Jan 2026 | 1.22 | 3.36 | 8.54 | 16.68 | 0.95 | 9.82 |
| Feb 2026 | 1.11 | 5.96 | 9.37 | 15.99 | 0.79 | 6.89 |
| Mar 2026 | 1.17 | 3.37 | 11.45 | 15.06 | 0.89 | 8.14 |
| Apr 2026 | 1.60 | 5.07 | 9.90 | 13.06 | 0.41 | 7.60 |
| May 2026 | 1.22 | 3.46 | 10.81 | 20.16 | 0.53 | 7.56 |
| Jun 2026 | 1.24 | 1.60 | 9.99 | 19.81 | 0.98 | 7.18 |
| Jul 2026 | 0.97 | 0.79 | 9.54 | 17.91 | 1.03 | 8.18 |
Table · imports by product
| Month | 0401 | 0402 | 0403 | 0404 | 0405 | 0406 |
|---|---|---|---|---|---|---|
| Jan 2024 | 6.50 | 1.35 | 0.39 | 10.54 | 27.75 | 28.57 |
| Feb 2024 | 7.60 | 1.04 | 0.56 | 10.56 | 24.59 | 37.83 |
| Mar 2024 | 6.34 | 2.28 | 1.06 | 13.70 | 21.45 | 51.18 |
| Apr 2024 | 8.42 | 2.93 | 0.34 | 10.72 | 26.68 | 54.73 |
| May 2024 | 10.85 | 2.64 | 1.17 | 12.05 | 27.22 | 55.33 |
| Jun 2024 | 10.06 | 2.79 | 0.32 | 10.44 | 30.82 | 50.73 |
| Jul 2024 | 10.28 | 3.09 | 0.49 | 10.91 | 25.13 | 57.08 |
| Aug 2024 | 7.61 | 2.07 | 0.53 | 11.06 | 24.22 | 56.66 |
| Sep 2024 | 6.99 | 3.56 | 0.57 | 8.85 | 28.26 | 56.04 |
| Oct 2024 | 7.74 | 2.60 | 0.68 | 12.81 | 31.53 | 72.06 |
| Nov 2024 | 8.31 | 2.17 | 0.82 | 10.13 | 35.31 | 76.11 |
| Dec 2024 | 8.24 | 2.05 | 0.63 | 15.43 | 34.68 | 80.65 |
| Jan 2025 | 6.69 | 3.12 | 0.63 | 14.37 | 46.42 | 49.36 |
| Feb 2025 | 7.73 | 3.07 | 0.55 | 19.34 | 43.16 | 51.04 |
| Mar 2025 | 7.49 | 3.86 | 1.30 | 18.51 | 49.72 | 65.18 |
| Apr 2025 | 9.13 | 1.74 | 0.32 | 9.92 | 33.88 | 59.68 |
| May 2025 | 11.46 | 2.06 | 0.72 | 12.29 | 29.46 | 65.05 |
| Jun 2025 | 9.97 | 2.41 | 0.29 | 11.80 | 41.02 | 62.42 |
| Jul 2025 | 9.62 | 3.42 | 0.26 | 9.47 | 28.75 | 63.89 |
| Aug 2025 | 7.52 | 1.98 | 0.21 | 10.84 | 36.64 | 64.57 |
| Sep 2025 | 6.24 | 2.07 | 0.62 | 10.54 | 18.87 | 67.31 |
| Oct 2025 | 6.11 | 2.29 | 0.82 | 13.94 | 35.43 | 83.23 |
| Nov 2025 | 8.06 | 2.63 | 0.24 | 11.95 | 39.15 | 92.26 |
| Dec 2025 | 6.24 | 2.62 | 0.23 | 13.44 | 26.48 | 61.47 |
| Jan 2026 | 7.32 | 2.46 | 0.76 | 15.18 | 23.51 | 45.40 |
| Feb 2026 | 6.58 | 2.54 | 0.45 | 18.62 | 24.66 | 56.54 |
| Mar 2026 | 8.65 | 3.55 | 0.51 | 19.04 | 26.15 | 74.17 |
| Apr 2026 | 9.20 | 3.94 | 0.81 | 21.82 | 25.09 | 64.24 |
| May 2026 | 11.83 | 4.73 | 0.52 | 16.94 | 29.41 | 67.18 |
| Jun 2026 | 13.25 | 10.99 | 0.31 | 15.45 | 27.50 | 66.31 |
| Jul 2026 | 14.56 | 5.32 | 0.55 | 25.20 | 25.06 | 62.24 |
3 · Top export destinations and import origins
The eight largest partner countries over the period, ranked by total value; everything else is grouped as Other. The United States towers over both flows — tick the box to read the rest of the market.
USAEgyptUnited Arab EmiratesPhilippinesAlgeriaCubaJapanRep. of KoreaOther
Export destinations, C$ per month
Stacked monthly exports by destination
USAItalyNew ZealandFranceNetherlandsSwitzerlandUnited KingdomDenmarkOther
Import origins, C$ per month
Stacked monthly imports by country of origin
Table · exports by destination
| Month | USA | Egypt | United Arab Emirates | Philippines | Algeria | Cuba | Japan | Rep. of Korea | Other |
|---|---|---|---|---|---|---|---|---|---|
| Jan 2024 | 28.02 | 4.69 | 2.06 | 0.28 | 2.70 | 0.00 | 1.05 | 0.00 | 4.17 |
| Feb 2024 | 25.19 | 5.11 | 2.02 | 1.10 | 0.00 | 0.00 | 0.41 | 0.82 | 5.75 |
| Mar 2024 | 24.18 | 1.74 | 0.79 | 1.25 | 2.87 | 0.00 | 0.80 | 0.61 | 5.57 |
| Apr 2024 | 24.71 | 2.49 | 1.53 | 0.77 | 2.18 | 0.51 | 1.06 | 0.48 | 5.08 |
| May 2024 | 27.17 | 3.96 | 1.60 | 1.61 | 3.88 | 1.37 | 0.00 | 0.75 | 9.00 |
| Jun 2024 | 25.55 | 2.04 | 1.82 | 2.24 | 0.97 | 1.75 | 0.39 | 0.00 | 8.86 |
| Jul 2024 | 27.60 | 6.39 | 2.78 | 2.85 | 0.97 | 1.11 | 0.41 | 0.74 | 5.41 |
| Aug 2024 | 29.32 | 1.77 | 1.55 | 0.38 | 3.97 | 0.00 | 1.16 | 0.00 | 6.48 |
| Sep 2024 | 29.76 | 1.85 | 1.48 | 1.32 | 0.00 | 2.21 | 0.47 | 0.54 | 5.14 |
| Oct 2024 | 34.04 | 1.97 | 2.40 | 1.38 | 1.74 | 0.37 | 0.42 | 0.00 | 7.65 |
| Nov 2024 | 29.41 | 3.26 | 0.99 | 0.29 | 0.00 | 1.47 | 0.42 | 0.00 | 6.90 |
| Dec 2024 | 32.84 | 2.61 | 1.25 | 0.74 | 1.87 | 0.00 | 0.53 | 0.30 | 8.97 |
| Jan 2025 | 44.63 | 0.69 | 0.76 | 0.43 | 0.50 | 3.38 | 0.72 | 0.54 | 4.35 |
| Feb 2025 | 32.88 | 6.38 | 1.31 | 0.24 | 1.46 | 0.51 | 1.32 | 0.41 | 6.14 |
| Mar 2025 | 32.20 | 1.58 | 1.07 | 0.30 | 1.02 | 0.00 | 0.70 | 0.49 | 7.17 |
| Apr 2025 | 24.87 | 0.71 | 2.96 | 0.00 | 0.36 | 0.90 | 0.44 | 1.74 | 7.11 |
| May 2025 | 26.24 | 0.27 | 1.02 | 0.37 | 0.00 | 0.00 | 0.85 | 0.58 | 7.68 |
| Jun 2025 | 25.30 | 0.39 | 0.58 | 0.55 | 0.00 | 1.28 | 0.76 | 0.81 | 6.46 |
| Jul 2025 | 25.22 | 2.29 | 2.30 | 0.90 | 0.00 | 1.49 | 0.25 | 0.39 | 6.17 |
| Aug 2025 | 24.68 | 0.21 | 1.88 | 1.16 | 0.00 | 3.35 | 0.85 | 0.55 | 6.37 |
| Sep 2025 | 31.10 | 1.89 | 1.24 | 1.81 | 0.00 | 1.00 | 1.29 | 0.00 | 7.69 |
| Oct 2025 | 32.93 | 1.91 | 1.80 | 1.78 | 0.43 | 0.00 | 0.96 | 1.02 | 6.02 |
| Nov 2025 | 35.67 | 2.47 | 1.94 | 0.56 | 0.00 | 0.00 | 0.87 | 1.26 | 2.24 |
| Dec 2025 | 35.69 | 3.38 | 0.85 | 0.85 | 1.05 | 0.00 | 0.00 | 0.41 | 3.80 |
| Jan 2026 | 31.48 | 0.71 | 2.19 | 0.35 | 0.88 | 0.00 | 0.44 | 0.93 | 3.60 |
| Feb 2026 | 27.67 | 0.94 | 1.67 | 0.84 | 0.43 | 0.00 | 1.69 | 0.71 | 6.16 |
| Mar 2026 | 31.18 | 0.16 | 0.53 | 2.45 | 0.00 | 0.00 | 0.47 | 0.61 | 4.68 |
| Apr 2026 | 26.54 | 0.43 | 0.00 | 1.08 | 0.00 | 0.85 | 0.66 | 1.86 | 6.22 |
| May 2026 | 31.54 | 2.05 | 0.80 | 0.86 | 0.00 | 0.90 | 0.00 | 1.13 | 6.46 |
| Jun 2026 | 29.87 | 0.24 | 0.45 | 1.30 | 0.00 | 0.00 | 1.50 | 0.58 | 6.85 |
| Jul 2026 | 29.93 | 0.90 | 0.50 | 0.71 | 0.00 | 0.00 | 0.50 | 0.43 | 5.46 |
Table · imports by origin
| Month | USA | Italy | New Zealand | France | Netherlands | Switzerland | United Kingdom | Denmark | Other |
|---|---|---|---|---|---|---|---|---|---|
| Jan 2024 | 41.68 | 4.69 | 15.32 | 3.61 | 1.35 | 1.04 | 0.84 | 0.75 | 5.83 |
| Feb 2024 | 43.58 | 5.25 | 13.62 | 5.44 | 2.30 | 1.58 | 1.75 | 2.09 | 6.58 |
| Mar 2024 | 47.62 | 9.69 | 13.93 | 6.92 | 2.92 | 3.27 | 1.62 | 1.89 | 8.15 |
| Apr 2024 | 49.94 | 13.32 | 12.85 | 6.34 | 2.28 | 4.41 | 1.17 | 2.00 | 11.51 |
| May 2024 | 51.95 | 13.71 | 14.95 | 6.12 | 4.82 | 3.78 | 1.23 | 3.51 | 9.20 |
| Jun 2024 | 55.94 | 11.49 | 11.32 | 6.02 | 4.05 | 3.38 | 1.46 | 0.63 | 10.86 |
| Jul 2024 | 52.11 | 15.22 | 7.24 | 6.60 | 2.86 | 2.56 | 2.62 | 4.00 | 13.77 |
| Aug 2024 | 51.60 | 12.85 | 8.92 | 6.68 | 3.96 | 1.83 | 3.66 | 2.03 | 10.64 |
| Sep 2024 | 50.96 | 15.93 | 9.54 | 6.57 | 4.12 | 3.37 | 2.74 | 2.06 | 8.97 |
| Oct 2024 | 59.09 | 19.16 | 11.18 | 8.74 | 5.14 | 3.41 | 3.02 | 3.70 | 13.99 |
| Nov 2024 | 60.97 | 20.03 | 12.28 | 9.04 | 6.16 | 5.78 | 3.16 | 2.53 | 12.89 |
| Dec 2024 | 53.41 | 21.46 | 23.29 | 10.87 | 8.17 | 2.39 | 1.49 | 1.65 | 18.96 |
| Jan 2025 | 59.71 | 7.93 | 25.97 | 6.43 | 2.70 | 4.62 | 2.65 | 2.41 | 8.16 |
| Feb 2025 | 75.18 | 10.67 | 14.43 | 6.22 | 2.56 | 3.49 | 2.44 | 2.56 | 7.33 |
| Mar 2025 | 82.88 | 13.13 | 16.74 | 8.28 | 5.56 | 3.69 | 2.01 | 3.01 | 10.75 |
| Apr 2025 | 55.31 | 19.04 | 13.15 | 8.75 | 2.33 | 1.58 | 2.79 | 3.24 | 8.47 |
| May 2025 | 57.15 | 20.26 | 13.13 | 7.82 | 3.35 | 3.14 | 3.84 | 2.86 | 9.50 |
| Jun 2025 | 54.68 | 17.49 | 17.54 | 7.23 | 6.31 | 3.27 | 3.30 | 3.46 | 14.63 |
| Jul 2025 | 52.84 | 18.23 | 14.07 | 6.74 | 2.94 | 2.97 | 3.20 | 3.50 | 10.94 |
| Aug 2025 | 55.37 | 17.06 | 14.59 | 8.03 | 6.77 | 5.20 | 1.99 | 3.69 | 9.05 |
| Sep 2025 | 46.10 | 20.33 | 5.71 | 7.12 | 5.41 | 2.26 | 3.30 | 2.87 | 12.56 |
| Oct 2025 | 68.58 | 24.18 | 8.10 | 10.37 | 5.78 | 0.89 | 6.89 | 3.76 | 13.27 |
| Nov 2025 | 72.21 | 24.25 | 7.54 | 13.67 | 7.30 | 6.46 | 2.38 | 2.47 | 18.01 |
| Dec 2025 | 56.14 | 16.78 | 8.02 | 8.37 | 1.90 | 1.21 | 2.63 | 1.67 | 13.75 |
| Jan 2026 | 54.69 | 10.07 | 5.27 | 5.26 | 2.01 | 4.48 | 2.42 | 4.05 | 6.38 |
| Feb 2026 | 54.50 | 17.06 | 10.06 | 5.21 | 3.54 | 2.85 | 3.11 | 1.71 | 11.36 |
| Mar 2026 | 60.27 | 23.00 | 10.41 | 10.68 | 4.86 | 5.56 | 2.46 | 3.18 | 11.65 |
| Apr 2026 | 65.39 | 22.98 | 8.01 | 5.79 | 2.63 | 3.12 | 3.40 | 1.85 | 11.93 |
| May 2026 | 62.40 | 21.61 | 6.84 | 8.95 | 4.04 | 2.75 | 2.83 | 3.59 | 17.61 |
| Jun 2026 | 75.56 | 16.30 | 7.92 | 8.51 | 3.99 | 1.94 | 4.20 | 1.36 | 14.04 |
| Jul 2026 | 77.88 | 14.41 | 8.10 | 6.78 | 3.44 | 3.64 | 2.95 | 3.20 | 12.53 |