US EditionCanada's trade deficit in July narrows as exports to the US rise
Canada's merchandise exports rose 0.9% to $61.9 billion in July, narrowing the trade deficit to $4.94 billion amid less severe auto plant stoppages and U.S. tariffs effects.
- On September 4, 2025, Statistics Canada announced that in July, Canada’s merchandise trade shortfall decreased to $4.94 billion, supported by a rise in exports and a decline in imports.
- The deficit improvement followed disruptions from U.S. tariffs on Canadian aluminum and steel, which caused export declines and supply chain changes earlier this year.
- Exports increased 0.9% to $61.9 billion, driven by a 5% rise in shipments to the U.S., especially energy products and motor vehicles, while imports fell 0.7%, mainly from machinery reductions.
- Economist Andrew Grantham stated in a report that net trade should positively contribute to GDP in Q3 but cautioned "that doesn't mean the negatives from this year's tariff shock are behind us."
- The narrowing deficit suggests a slow export rebound amid ongoing tariff effects, with exports up $4.7 billion year-over-year and markets anticipating a central bank rate cut.
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Trade deficit shrinks to $4.9B in July as energy, vehicle exports rise
Canada's trade deficit is shrinking, but still bigger than this time last year, according to new data from Statistics Canada. Overall exports rose by 0.9 per cent, driven by rising vehicle and energy exports.
·Canada
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Canada's trade deficit in July narrows as exports to the US rise
Canada's trade deficit narrowed in July as overall exports rose, especially driven by outbound shipments of crude oil and passenger cars to its biggest trading partner the United States, Statistics Canada said on Thursday.
·United Kingdom
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Coverage Details
Total News Sources16
Leaning Left9Leaning Right1Center4Last UpdatedBias Distribution64% Left
Bias Distribution
- 64% of the sources lean Left
64% Left
L 64%
C 29%
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