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StatCan Reports Merchandise Trade Surplus Grew to $3.9B in June
A weaker Canadian dollar and higher gold shipments helped lift exports to a record C$77.5 billion, Statistics Canada said.
- On Tuesday, Statistics Canada reported Canada's merchandise trade surplus reached a four-year high of C$3.86 billion in June, exceeding analyst expectations of C$3.00 billion.
- A weaker Canadian dollar inflated trade values during the month; total exports gained 0.4 percent to reach $77.5 billion while imports edged up 0.2 percent to $73.6 billion.
- Shipments of metal and non-metallic mineral products jumped 16.5 percent, boosted by gold exports to the United Kingdom, though energy exports fell 10.0 percent on lower prices.
- Canada remains heavily reliant on the American market, where 69.5 percent of exports flowed in June; the trade surplus with the United States narrowed to C$9.98 billion from C$11.12 billion.
- Prince Owusu, senior economist at Export Development Canada, said, "We should do quite well for the second half," though TD Economics economist Marc Ercolao cautioned that trade signals remain "noisy.
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StatCan reports merchandise trade surplus grew to $3.9B in June
Canada's merchandise trade surplus increased to $3.9 billion in June as a weaker loonie pushed trade values higher, Statistics Canada said on Tuesday. The agency said the result compared with a surplus of $3.7 billion in May, which was revised from its initial reading of $4.2 billion. StatCan noted ...
·Kelowna, Canada
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The merchandise trade surplus was $3.9 billion in June, compared to a surplus of $3.7 billion in May, according to Statistics Canada.
·Montreal, Canada
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The Toronto Star+4 Reposted by 4 other sources
Statistics Canada reports merchandise trade surplus grew to $3.9B in June
OTTAWA - Statistics Canada says the country's merchandise trade surplus rose to $3.9 billion in June, compared with a surplus of $3.7 billion in May.
·Toronto, Canada
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Coverage Details
Total News Sources15
Leaning Left5Leaning Right0Center6Last UpdatedBias Distribution55% Center
Bias Distribution
- 55% of the sources are Center
55% Center
L 45%
C 55%
Factuality
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