Canada July trade surplus shrinks, weeks before new U.S. tariffs
Statistics Canada said exports fell 2.3% and imports rose 2.2%, leaving a C$769 million surplus and signaling pressure from U.S. tariffs.
- Statistics Canada reported on Thursday that Canada's trade surplus narrowed sharply to C$769 million in July, down from a four-year high of C$4.2 billion in June.
- The decline resulted from a 2.3% drop in exports led by energy and metal shipments, while imports rose 2.2% driven by an 11.4% surge in motor vehicle parts.
- Total exports fell to C$76.14 billion, though aircraft and transportation equipment shipments surged 34.9%, partially offsetting broader sectoral weakness across commodity markets.
- Canada's trade surplus with the United States shrank by more than 40% to C$5.9 billion as exports to the country dropped 6.6% while imports increased 1.8%.
- Washington's 50% new tariffs imposed last month will provide a tougher test for exporters in coming months, threatening to further pressure trade flows already strained by sectoral volatility.
32 Articles
32 Articles
Exports declined for the first time in six months.
Canada's trade surplus narrows to $769 million as imports rise sixth month
Canada’s merchandise trade surplus narrowed to C$769 million in July as exports fell 2.3% and imports rose 2.2%, marking the fifth consecutive monthly surplus but the smallest since June’s revision. The weakness was led by energy and metal exports, while lingering Canada–U.S. tariff tensions and the forthcoming duties cloud the outlook for exports in August. · 18 sources across the spectrum on IJR News.
Canada's trade surplus fell sharply in July, with the drop in exports of energy and metals and increased imports. The drop occurred a few weeks before Washington's new 50% tariffs began to appear in the statistics, imposing a more difficult test on Canadian exporters. The trade surplus was 769 million Canadian dollars ($557 million), before 4.2 billion Canadian dollars in the previous month, higher level in four years, reported to Statistics Can…
(New York = Yonhap News) Correspondent Kim Yeon-sook = Canada's merchandise trade surplus in July plummeted 82% from the previous month.
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