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- Canada’s trade surplus narrows to CAD0.78 billion in July
Canada’s trade surplus narrows to CAD0.78 billion in July
Statistics
Canada announced on Thursday that Canada recorded a trade surplus of CAD0.78
billion in July, compared with a revised CAD2.56-billion surplus in June
(originally a CAD3.23-billion surplus).
Economists
had forecast a surplus of CAD1.40 billion.
According
to the report, Canada’s exports rose 0.6 percent m-o-m to a record CAD53.75 billion
in July, as gains in most product sections were partially offset by a steep fall
in exports of lumber and other sawmill products (-23.6 percent m-o-m) drove the
decline. Excluding this product section, total exports were up 2.0 percent
m-o-m. Meanwhile, imports jumped 4.2 percent m-o-m to CAD 52.97
billion in July, as 9 of the 11 product sections recorded increases, with motor
vehicles and parts (+21.1% percent m-o-m) accounting for more than two-thirds
of the advance in total imports.
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