Monthly Merchandise Trade Report
Monthly Report on Canada's International Merchandise Trade Performance, June 2018
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Canada’s exports posted a record in June, surpassing the $50 billion mark for the first time.
- The trade deficit with the world narrowed to $626 million in June, from a $2.7-billion deficit in May.
- Total exports rose 4.1% to $50.7 billion in June, a record mark.
- Mainly on exports of energy products and aircraft.
- Widespread increases were observed throughout the 11 sectors.
- Imports edged down 0.2% to $51.3 billion in June.
- Large decreases in energy imports and aircraft and other transportation equipment and parts were only partially offset by increases in most other sectors.
- Increases were observed in 7 of the 11 sectors.
Chart 1: Value of Canada's trade in goods, June 2013 to June 2018
Source: CANSIM Table 228-0059, Merchandise imports and exports, Balance of payments basis, seasonally adjusted.
Canadian Merchandise Exports
Canadian merchandise exports: exports rose 4.1% to reach $50.7 billion. Widespread increases were led by energy products (+7.1%) and aircraft and other transportation equipment and parts (+18.9%).
Year-to-date (January to June), exports were up 2.7%, compared to the same period last year.
Canadian Merchandise Imports
Canadian merchandise imports: imports edged down 0.2% to $51.3 billion; large decreases in imports of energy products and aircraft and other transportation equipment and parts were largely offset by widespread increases.
Year-to-date, imports were up 4.7% compared to the same period last year.
- Canada’s merchandise trade surplus with the United States increased to $4.1 billion in June, from $3.3 billion in May.
- Exports to the United States grew 2.5% to a record $37.1 billion in June, mainly on higher exports of passenger cars and light trucks.
- Imports from the United States edged up 0.3% to $32.9 billion.
|Source: CANSIM Table 228-0069, Merchandise imports and exports, Balance of payments basis, seasonally adjusted, current dollars.|
Countries other than United States:
- Canada’s trade deficit with countries other than the U.S. narrowed from $6.1 billion in May, to $4.7 billion in June, the smallest deficit since March 2017.
- Exports to non-U.S. countries increased 8.7% in June to a record $13.6 billion, mainly on exports to Germany (aircraft), India (metal ores and potash), Belgium (nickel) and Mexico (aircraft).
- Imports from countries other than the United States fell 1.2% to $18.4 billion.
- Lower imports from China (cellphones and aircraft) and the U.K. (motor gasoline) were behind the decrease.
In June, exports rose 4.1% to $50.7 billion with growth observed in 8 of 11 sectors. Export volumes were up 2.1%, while exports prices increased by 2.0%.
- Export of energy products increased 7.1% to $9.9 billion, the highest level since October 2014.
- Mostly on exports of crude oil (+6.6%), and refined petroleum (+19.2%).
- Exports of aircraft and other transportation equipment and parts rose sharply in June, (+18.9%) to a record $2.5 billion.
- Exports of aircraft were up 44.5%, mostly on higher shipments of business jets.
- Significant exports increases were observed in metal ores and non-metallic minerals (+22.9%), motor vehicles and parts (+3.7%) and industrial machinery, equipment and parts (+6.1%).
In June, imports edged down 0.2% to $51.3 billion, despite increases in 7 of 11 sectors. Import volumes were down 1.3% while import prices increased by 1.0%.
- Imports of energy products decreased 15.1% to $2.9 billion.
- Imports of refined petroleum energy products drove the decline (-27.4%).
- Imports of aircraft and other transportation equipment and parts were down 17.1% to $2.0 billion, after posting a record in May.
- There was a decrease in aircraft imports in June (-47.9%).
- Increases were observed in metal ores and non-metallic minerals (+16.2%), consumer goods (+1.2%), and basic and industrial chemical, plastic and rubber products (+2.7%).
|Industrial Machinery & Equipment||3,129||0.7%||4,928||6.1%|
|Electronic./Electric. Machin. & Equip.||2,360||1.7%||5,696||-1.0%|
|Aircrafts/Other Transportation Equip.||2,499||10.8%||2,031||1.2%|
Source: CANSIM 228-0059, North American Product Classification System 2007 – seasonally adjusted. Totals don’t add up as “Special transactions trade” and “Other balance of payments adjustments” are not included.
- Date Modified: