Canada posts $769M merchandise trade surplus in July as exports fall

Exports of metals, mineral products and energy dropped while imports rose

Manufacturing sales
AdobeStock / Negro Elkha

Statistics Canada says the country posted a merchandise trade surplus of $769 million in July as exports fell for the first time in six months.

The agency says the result compared with a surplus of $4.2 billion in June.

The July surplus came as total exports fell 2.3% to $76.1 billion for the month, as exports of metal and non-metallic mineral products declined 8.5%.

Exports of energy products dropped 4.4% as exports of crude oil were down 5.6% amid lower prices and volumes. 

Meanwhile, imports rose 2.2% to $75.4 billion, boosted by an 11.4% increase in imports of motor vehicles.

In volume terms, exports fell 1.5%, while imports rose 2.2%.