December 5, 2022

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Canada trade balance for June 2021 $3.23 billion versus $-0.6 billion estimate

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Canada trade balance for June 2021 $3.23 billion versus $-0.6 billion estimate

Canada international merchandise trade for June 2021

Canada trade balance
  • Prior was -1.4B
  • Exports $53.76 billion versus $49.53 billion last month. 
  • Imports $50.53 billion versus $50.92 billion last month
  • The sharp increase in exports sent the trade into a surplus position.  Exports rose 8.7% in June while imports fell by 1.0%
  • The exports were a record high
  • experts were up in nine of 11 product sections with non-energy exports rising 5.5%
  • exports of energy products increase by 22.9% to $11.3 billion in June. That was the highest since March 2019.  The increase was mainly attributed to a 25.7% increase in crude oil exports
  • exports motor vehicles and parts rose 14.9% in June following recent monthly declines related to shutdowns caused by supply chain issues
  • exports of metal nonmetallic mineral products increased 12.7%
  • imports were down in seven of 11 product sections
  • imports of consumer goods -3.7%
  • imports of motor vehicles felt -3.8% versus +7.7% in May
  • imports of aircraft and other transportation equipment rose 28% in June
  • exports to the US rose 8.2% to a record $39.7 billion in June supported by higher exports of crude oil and passenger cars and light trucks. Imports from the US increased 1.9%. The trade surplus of $8.3 billion in June was the largest surplus since August 2018

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