Canada recorded a $4.2-billion merchandise trade surplus in August, up from a revised $787 million in July, Statistics Canada reported October 6. Exports increased 2.5% while imports fell 2.0%, producing the sixth consecutive monthly surplus.
Energy exports rose 4.7%, with refined petroleum exports up 17.4% as diesel shipments increased to several markets. Imports of motor vehicles and parts declined 8.8%.
Exports to the United States rose 8.1% and imports from the U.S. fell 2.5%, widening the bilateral merchandise surplus from $6.1 billion to $11.2 billion. Exports to other countries declined 8.5%.
Statistics Canada notes that advance notice of tariffs can encourage shipments before additional costs take effect. That timing matters when interpreting a single month of results. These figures cover merchandise trade, separately from services, and are expressed in Canadian dollars.
