Canada's imports and exports continued to grow in July

September 11, 2020

Statistics Canada announced that the country's July merchandise imports and exports continued to build on the strong gains that were observed in June. Imports increased 12.7% in July, while exports rose 11.1%. The largest contributor to this growth for both imports and exports was the motor vehicles and parts product category.

As imports grew faster than imports the merchandise trade deficit with the world widened from $1.6 billion in June to $2.5 billion in July.

Imports of motor vehicles and parts increased 50.3% and imports of electronic and electrical equipment and parts rose 14.8%. Imports of consumer goods rose 4.8% and imports of industrial machinery, equipment and parts rose 9.2%.

Exports of motor vehicles and parts increased 37.0% and exports of energy products were up 18.9%.

On a global perspective, Canada's trade deficit with countries other than the United States widened from $4.3 billion in June to $5.3 billion in July. Imports from those countries rose 6.9% to $17.2 billion and exports were up 1.1% to $11.9 billion.

Canada's trade surplus with the United States widened from $2.7 billion in June to $2.9 billion in July. Imports rose 16.2% to $30.7 billion and exports rose 15.1% to $33.5 billion.