Canada Posts C$4.24 Billion May Trade Surplus as Exports Hit Record C$77.1 Billion
Updated
Updated · investinglive.com · Jul 7
Canada Posts C$4.24 Billion May Trade Surplus as Exports Hit Record C$77.1 Billion
3 articles · Updated · investinglive.com · Jul 7
Summary
C$4.24 billion was Canada’s trade surplus in May, beating expectations of C$2.85 billion and topping April’s revised C$3.41 billion.
C$77.1 billion in exports set a record, up from a revised C$76.4 billion in April, while imports slipped 0.2% to C$72.86 billion after April’s record high.
U.S. trade drove much of the gain: Canada’s surplus with the United States widened to C$11.6 billion from C$10.3 billion, while its deficit with non-U.S. countries grew to C$7.4 billion from C$6.9 billion.
Energy helped lift the headline number, but non-energy exports still rose 2.0%; sulfur shipments jumped on war-related demand and gold sales stayed strong.
The stronger May balance is a tailwind for second-quarter growth, though the export boost may fade from June as sharply lower oil prices pull energy values back toward normal.