Canada’s merchandise commerce deficit widened barely to $5.9 billion in June, up from $5.5 billion the month earlier than, Statistics Canada reported immediately.
Imports rose 1.4% largely as a result of a one-off, high-value cargo of commercial equipment for an offshore oil mission. Excluding that supply, imports would have declined, the company stated.
Exports elevated 0.9% in greenback phrases however slipped 0.4% in quantity, with weak point in autos and metals weighed on total efficiency. Exports of passenger autos fell for a 3rd straight month, whereas unwrought aluminum and metal shipments additionally declined.
These drops coincided with newly imposed U.S. tariffs on Canadian metals and ongoing automotive manufacturing slowdowns.
Merchandise exports and imports
Commerce tensions weigh on U.S. and international exports
Canada’s commerce surplus with the U.S. grew to $3.9 billion in June, up from $3.6 billion the month earlier than. Nevertheless, exports to the U.S. remained 12.5% decrease than a yr earlier, weighed down by American tariffs and weaker shipments of autos and metals.
Exports to non-U.S. locations fell 4.1%, with decrease shipments to the UK and Japan. Second-quarter knowledge confirmed complete exports dropped almost 13% from the primary quarter, marking the sharpest quarterly decline for the reason that pandemic restoration started.
The most recent figures come amid escalating commerce tensions with the U.S., together with a brand new spherical of tariffs that took impact August 1. Ottawa has voiced disappointment with the measures and says additional negotiations are deliberate.
“Commerce weak point and broader commerce uncertainty present no indicators of abating—not least as a result of Canada and the U.S.’s incapacity to strike a brand new commerce deal final week,” stated TD economist Marc Ercolao in a analysis be aware. He added that sectors like metal, aluminum, autos and vitality proceed to “disproportionately bear the brunt of the shock.”
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Final modified: August 5, 2025
