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.

Trade Balance

  • The trade deficit with the world narrowed to $626 million in June, from a $2.7-billion deficit in May.

Exports

  • 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

  • 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

Canada-U.S. Trade in Billions of Dollars

Source: CANSIM Table 228-0059, Merchandise imports and exports, Balance of payments basis, seasonally adjusted.

Text Version
Merchandise exports and imports, billions of dollars
 ExportsImports
June 201339.540.0
July 201338.740.3
August 201340.741.5
September 201341.041.1
October 201340.340.7
November 201340.241.4
December 201340.541.4
January 201440.441.3
February 201443.242.6
March 201444.442.9
April 201443.743.4
May 201445.244.7
June 201445.143.5
July 201445.343.6
August 201444.843.8
September 201445.044.4
October 201445.045.2
November 201443.644.4
December 201443.544.8
January 201542.444.8
February 201542.744.7
March 201543.246.5
April 201543.045.3
May 201542.645.3
June 201545.245.3
July 201545.946.1
August 201544.546.4
September 201544.145.9
October 201543.345.5
November 201543.246.2
December 201544.746.5
January 201645.346.9
February 201643.346.2
March 201641.544.9
April 201641.644.6
May 201640.944.6
June 201641.445.0
July 201643.445.1
August 201643.845.5
September 201643.647.7
October 201644.145.5
November 201646.245.1
December 201646.346.1
January 201746.446.9
February 201745.547.1
March 201746.747.3
April 201747.148.2
May 201748.449.4
June 201746.449.3
July 201744.146.7
August 201743.846.6
September 201743.546.8
October 201744.746.2
November 201746.549.0
December 201746.650.1
January 201845.947.7
February 201846.148.7
March 201847.952.0
April 201848.850.4
May 201848.751.4
June 201850.751.3

Background

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. 

United States:

  • 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 $32.9 billion.
Table 1: Changes in Canadian Trade: monthly, year-to-date and by principal trading partners
June 
  2018
Exports
($ millions)
Monthly  
Change
Year-to-date 
% change
previous year 
Imports
($ millions)
Monthly
Change
Year-to-date 
% change
previous year 
Source: CANSIM Table 228-0069, Merchandise imports and exports, Balance of payments basis, seasonally adjusted, current dollars.
All Countries50,6991,9902.7%51,324-1084.7%
% Changen.a.4.1%n.a.n.a.-0.2%n.a.
Volume changen.a.2.1%n.a.n.a.-1.3%n.a.
Price changen.a.2.0%n.a.n.a.1.0%n.a.
       
United States37,0538932.0 32,9361084.0
Mexico9141234.0 1,8241040.1
EU3,9346152.15,345-7111.7
  United Kingdom1,32216-10.6608-89-3.1
  Germany52815312.41,337-5410.9
  France29794-7.2390-3911.3
India456147-21.0297-2033.1
China2,233-1021.73,774-2158.0
Japan1,214616.21,206210.2
South Korea481-176.57683410.1

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. 

Commodities/Products

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 highlights:

  • 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%.

Import highlights:

  • 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 $2.0 billion, after posting a record in May.
    • There was a decrease in aircraft imports in June (-47.9%).
  • Increases were observed in metal ores and non-metallic minerals (+16.2%), consumer goods (+1.2%), and basic and industrial chemical, plastic and rubber products (+2.7%).
Table 2: Exports and Imports by commodities – June 2018 and % change June 2017 to June 2018
Commodity
June 2018
Exports
($ millions)
Year-to-date 
% change
revious year
Imports
($ millions)
Year-to-date 
% change
previous year
Resource Products27,68819.5%      16,4807.0%
  Energy9,85934.6%      2,86213.4%
Non-resource Products21,690-1.5%      33,058 2.4%
  Industrial Machinery & Equipment3,1290.7%        4,9286.1%
Electronic./Electric. Machin. & Equip.2,3601.7%        5,696-1.0%
  Motor Vehicles7,577-9.8%        9,5521.2%
  Aircrafts/Other Transportation Equip.2,49910.8%        2,0311.2%
  Consumer Goods6,1253.4%      10,8524.1%
All commodities50,6999.2%      51,324 4.2%

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.