Canada’s Trade Surplus Surges to C$4.2B as U.S.-Bound Shipments Jump
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Canada’s merchandise trade surplus widened sharply to C$4.2 billion in August, up from about C$787 million in July and well above economists’ expectations of roughly C$1.55 billion.
Exports rose 2.5% to C$77.9 billion, while imports fell 2% to C$73.7 billion, giving Canada its sixth consecutive monthly goods trade surplus.
Trade with the United States drove much of the improvement. Canadian exports to the U.S. climbed 8.1%, while imports declined 2.5%, pushing Canada’s bilateral surplus to C$11.2 billion.
The increase came as Canadian exporters accelerated shipments before new U.S. tariffs took effect in late August, suggesting that some of the month’s strength may have reflected purchases being brought forward.
The picture was weaker elsewhere. Canadian exports to countries outside the U.S. fell 8.5%, widening the trade deficit with those markets to C$7 billion. The Canadian dollar edged higher following the release.
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Tahani Elghazaly5326 Posts
