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Statistics Canada Reports Merchandise Trade Surplus Grew to $4.2B in May
Exports hit a record C$77 billion as unwrought aluminum shipments jumped 51% and imports fell 0.2%, Statistics Canada said.
- On Tuesday, Statistics Canada reported Canada's merchandise trade surplus widened to C$4.2 billion in May, marking a four-year high as total exports rose 0.9% to a record $77.1 billion.
- Metal ore and non-metallic mineral shipments rose 16.1%, boosted by surging global sulfur demand and higher energy prices amid Middle East supply disruptions that constrained shipments through the Strait of Hormuz.
- Exports to the United States rose 1.5% to C$53.72 billion, accounting for nearly 70% of total shipments, though President Donald Trump's tariffs have prompted businesses to attempt diversification elsewhere.
- While U.S. trade dominates, Canada shipped goods to the Netherlands, Italy, and Greece, signaling diversification efforts; yet the trade deficit with countries other than the United States widened to C$7.4 billion.
- Trade experts caution that unwinding decades-old supply chains tied to the United States will require time, despite the surplus exceeding analyst forecasts of C$2.85 billion.
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18 Articles
18 Articles
The country's trade surplus increased to $4.2 billion in May, with exports reaching record levels, according to Statistics Canada.
·Montreal, Canada
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Canada's trade surplus in May sharply up to a four-year high
·New York, United States
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Canada Trade Surplus Hits Four-Year High on Aluminum Exports
·New York, United States
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Total News Sources18
Leaning Left6Leaning Right1Center7Last UpdatedBias Distribution50% Center
Bias Distribution
- 50% of the sources are Center
50% Center
L 43%
C 50%
Factuality
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