Monthly Merchandise Trade Report

Monthly Report on Canada's International Merchandise Trade Performance, June 2015

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Summary

Canada’s merchandise exports jumped 6.3% in June to reach $44.6 billion while imports fell 0.6% to $45.1 billion. The merchandise trade deficit narrowed considerably to $476 million in June from a revised deficit of $3.4 billion in May. A sharp rise in exports to the U.S. was largely responsible for the increase in exports as well as for the narrowing of the monthly merchandise trade deficit.

Canadian Merchandise Exports

Canadian merchandise exports jumped 6.3% in June as volumes increased 4.8% and prices rose 1.5%.

  • It was exports to the U.S. that powered June’s growth as exports to that country increased 7.1%, accounting for 85% of total export growth for the month.
  • Among Canada’s top ten export destinations, exports to the UK saw the fastest growth, increasing 67.8%. This was followed by 29.2% growth to Germany and 24.9% growth to South Korea.
  • Exports increased in 9 of 11 sectors in June with consumer products leading the way with growth of 17.2%. Exports of metal and non-metallic mineral products also saw solid growth, increasing 10.8% for the month.
  • Compared to June of last year, exports are down by 1.0%, but excluding energy are up 9.3% with strongest growth in consumer products, electronics, and motor vehicles.

Canadian Merchandise Imports

Canadian merchandise imports declined 0.6% in June as volumes declined 0.9% and were only partially offset by prices that rose 0.3%.

  • Imports from the U.S. were down 0.9% in June while those from all other countries increased 0.1%.
  • By sector, declines were widespread with 7 of 11 sectors experiencing negative growth. By far the largest decline in percentage terms was for imports of aircraft and other transportation equipment which fell 19.0%. 

Canada’s Merchandise Trade Balance

Canada’s merchandise Canada’s merchandise trade deficit narrowed sharply in June to $476 million from a revised $3.4 billion in May.

  • Much of the narrowing of the merchandise trade deficit was due to a widening of the surplus with the U.S. which more than doubled to $4.7 billion from $2.1 billion in May.
  • With non-U.S. partners, Canada’s merchandise trade deficit in June narrowed to $5.2 billion from $5.5 billion in May.
Key Export Trade Statistics by Region – June 2015
Region$ billionsChange over previous monthChange over previous yearYTD 2015 $ billionsYTD change over previous year
United States34.2047.11.3194.014-2.7
EU3.41014.5-6.819.5474.2
China1.7979.11.510.5822.5
Japan0.83111.3-14.54.879-11.3
Mexico0.620-5.810.13.77813.5
Other3.746-6.2-13.324.152-1.5
All44.6096.3-1.0256.952-1.8
Key Import Trade Statistics by Region – June 2015
Region$ billionsChange over previous month (%)Change over previous year (%)YTD 2015 $ billionsYTD change over previous year (%)
United States29.519-0.91.5178.3644.4
EU4.6065.211.925.8687.4
China3.001-0.76.519.44510.8
Japan0.9222.728.15.53121.0
Mexico1.5593.015.79.33713.8
Other5.478-4.56.932.2260.6
All45.085-0.64.4270.7715.2
Key Trade Balance Statistics – June 2015
Activity$ billionsChange over previous monthChange over previous yearYTD 2015 $ billionsYTD change over previous year
Exports 44.6096.3-1.0256.952-1.8
Imports45.085-0.64.4270.7715.2
Trade Balance-0.476-3.3741.846-13.8194.423
Key Export Trade Statistics by Sector – June 2015
Sector$ billionsChange over previous month (%)Change over previous year (%)YTD 2015 $ billionsYTD change previous year (%)
Farm, fishing and intermediate food products2.7376.7-3.015.8563.2
Energy products7.9013.7-31.145.172-34.4
Metal ores and non-metallic minerals1.63213.62.79.5583.4
Metal and non-metallic mineral products5.06910.85.229.52210.6
Basic and industrial chemical, plastic and rubber products3.0843.62.917.8430.9
Forestry products and building and packaging materials3.3649.211.819.5138.5
Industrial machinery, equipment and parts2.6805.09.415.91211.2
Electronic and electrical equipment and parts2.2584.416.813.60216.3
Motor vehicles and parts6.802-0.610.139.74910.8
Aircraft and other transportation equipment and parts2.002-3.98.712.14021.8
Consumer goods5.98517.220.131.99912.5
Key Import Trade Statistics by Sector – June 2015
Sector$ billionsChange over previous month (%)Change over previous year (%)YTD 2015 $ billionsYTD change previous year (%)
Farm, fishing and intermediate food products1.3844.710.37.9966.9
Energy products2.657-10.4-24.716.320-27.0
Metal ores and non-metallic minerals0.838-4.110.25.2340.0
Metal and non-metallic mineral products3.9653.66.024.0368.5
Basic and industrial chemical, plastic and rubber products3.646-1.8-4.321.838-1.7
Forestry products and building and packaging materials1.983-2.04.512.1808.7
Industrial machinery, equipment and parts4.212-1.30.926.7667.2
Electronic and electrical equipment and parts5.1713.38.431.2687.8
Motor vehicles and parts8.5611.113.648.86511.3
Aircraft and other transportation equipment and parts1.344-19.0-12.99.90823.2
Consumer goods9.646-1.110.657.3679.8
Key Trade Statistics Rates & Indices – June 2015
TypeCurrent monthPrevious monthSame month previous yearChange over previous month (%)Change over same month previous year (%)
Commodity Price IndexFootnote 1457.8458.5673.9-0.2-32.1
Can/Us Exchange Rate1.21.21.11.514.2
Trade weighted exchange rateFootnote 2101.1102.6111.4-1.4-9.3
Terms of trade (2007=100)92.992.898.20.1-5.4
Canada-U.S. Trade in Billions of DollarsFootnote 3
MonthExportsImports
June 201534.20429.519
May 201531.94729.799
April 201532.09729.683
March 201531.61329.620
February 201531.87129.692
January 201532.28230.052
December 201432.83330.365
November 201433.06129.758
October 201433.38330.510
September 201433.52530.041
August 201433.68029.569
July 201434.27329.305
June 201433.75729.070
Exports to the EU, China, Japan, Mexico and Others in Billions of DollarsFootnote 4
MonthExports to EUExports to China Exports to JapanExports to MexicoExports to Others
June 20153.4101.7970.8310.6203.746
May 20152.9771.6470.7470.6583.993
April 20153.0032.0090.7460.6043.864
March 20153.4101.7050.8960.6574.227
February 20153.2531.7400.7440.6204.344
January 20153.4951.6830.9140.6203.978
December 20143.6891.6790.8800.6104.303
November 20143.1011.5280.8210.7814.317
October 20143.9201.6821.0010.4854.057
September 20143.7341.7520.9800.5284.288
August 20143.5381.8450.9060.5504.155
July 20143.7451.8081.0020.5634.179
June 20143.6591.7710.9720.5634.319
Exchange Rate Indices (CAN $ vs.)

Month

USDChinese RenminbiEURJapanese YenMexican Peso
June 201587.687.2106.1106.2104.3
May 201588.988.5108.4105.3104.6
April 201587.887.4110.4102.9102.8
March 201585.885.9107.9101.3100.6
February 201586.686.9103.8100.899.5
January 201589.489.2104.7103.5101.1
December 201493.993.3103.6109.8104.9
November 201495.694.0104.2109.0100.3
October 201496.694.9103.6102.2100.2
September 201498.496.9103.7103.5100.2
August 201499.197.9101.2100.0100.2
July 2014100.9100.3101.3100.6100.9
June 2014100.0100.0100.0100.0100.0
Commodity Price IndicesFootnote 5
MonthTotalExcluding EnergyEnergyForestryAgriculture
June 201567.991.458.991.592.2
May 201568.091.459.186.590.7
April 201563.790.552.888.887.9
March 201559.991.346.793.189.1
February 201562.392.549.698.787.4
January 201560.894.646.5101.790.3
December 201469.496.457.5101.895.5
November 201482.097.374.3102.296.2
October 201487.197.181.8103.294.7
September 201492.798.289.7105.093.8
August 201494.2100.690.6104.897.4
July 201497.7102.595.0104.2100.9
June 2014100.0100.0100.0100.0100.0

Footnotes

Footnote 1

Bank of Canada commodity price index: a chain Fisher price index of the US dollar prices of 24 commodities produced in Canada and sold in world markets, with weights updated on an annual basis.

Return to footnote 1 referrer

Footnote 2

Canadian dollar effective exchange rate index: a Bank of Canada trade-weighted index which measures the value of the Canadian dollar vis-à-vis the currencies of its most important trading partners. 

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Footnote 3

 The time series trade data do not include revisions to the historical figures.

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Footnote 4

The time series trade data do not include revisions to the historical figures.

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Footnote 5

Bank of Canada commodity price index, see previous page for details.

Return to footnote 5 referrer