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“Canada’s merchandise trade deficit with the world narrowed from $2.7 billion in May to $626 million in June, the smallest deficit since January 2017,” Statistics Canada reported today.

Key takeaways from the official publication

  • Exports rose 4.1% to $50.7 billion in June, the first time they have surpassed the $50 billion mark.  
  • Excluding energy products, exports were up  3.4%. Year over year, total exports rose  9.2%.
  • In real (or in volume) terms, exports rose 2.1% and imports were down 1.3%.
  • Imports edged down 0.2% to $51.3 billion in June, despite increases in 7 of 11 product sections.
  • Year over year, total imports were up 4.2%.