Statistics Canada announced that Canada's merchandise exports increased 0.4% in June, while imports edged up 0.2%. As a result, Canada's merchandise trade surplus with the world widened slightly from $3.7 billion in May to $3.9 billion in June. This was the fourth consecutive monthly trade surplus.

The Federal Agency notes that total June exports reached a record $77.5 billion. This represented a fifth consecutive monthly increase. In June, increases were observed in 6 of the 11 product sections..

As for imports, they also reached a record high, at $73.6 billion in June. This increase occurred despite decreases observed in 9 of 11 product sections, as higher imports of electronic and electrical equipment and parts more than offset the other declines.

Imports from the United States rose 3.0%, reaching a record in June mainly on higher imports of computers and computer peripherals. Meanwhile, exports to the United States rose 0.3%, a fifth consecutive monthly increase. As a result, Canada's trade surplus with the United States narrowed from $11.1 billion in May to $10.0 billion in June.

Imports from countries other than the United States fell 3.7% in June. Lower imports from China, South Korea and Germany contributed the most to the decrease.

Exports to countries other than the United States increased 0.7% in June. Higher exports of unwrought gold to the United Kingdom were partially offset by lower exports to the Netherlands of energy products and aluminum.

Canada's trade deficit with countries other than the United States narrowed from $7.4 billion in May to $6.1 billion in June.

 

Back