Statistics Canada says merchandise trade surplus falls to $4.1 billion in July

OTTAWA — The country’s trade surplus fell to $4.1 billion in July, according to Statistics Canada, as lower prices weighed on the total value of exports for the month. The reading relative to a revised merchandise trade surplus of $4.

OTTAWA — The country’s trade surplus fell to $4.1 billion in July, according to Statistics Canada, as lower prices weighed on the total value of exports for the month.

The reading compares to a revised merchandise trade surplus of $4.9 billion in June.

Statistics Canada says exports in July fell 2.8% to $68.3 billion, the first monthly decline in exports for 2022. In terms of volume, however, exports increased by 1. 7% for the month.

Meanwhile, imports fell 1.8% to $64.2 billion, as imports of consumer goods fell 4.2%. Total imports in volume decreased by 1.4%.

In a separate report, Statistics Canada said the country’s international trade in services deficit was $1.8 billion in July, down from $1.2 billion in June.

In total, Canada’s trade surplus for goods and services stood at $2.3 billion in July, compared with $3.7 billion in June.

This report from The Canadian Press was first published on September 7, 2022.

The Canadian Press