Canada’s exports rose 2.3 per cent in July and were concentrated in non-energy products, according to Statistics Canada Thursday. Exports excluding energy products rose 4 per cent. Overall, export prices grew 1.3 per cent while export volumes advanced 1.0 per cent.
US exports, meanwhile, increased 0.4 per cent to US$188.5 billion, despite a strong dollar and economic weakness in major trading partners such as China and Europe, said the Commerce Department also Thursday.
US and Canada Merchandise Trade
Canada’s imports imports were up 1.7 per cent in July, said StatsCan Wednesday. Import demand was widespread among commodities in July. Import prices were up 1.3 per cent and volumes 0.5 per cent.
As a result, Canada’s merchandise trade deficit with the world narrowed from $811 million in June to $593 million in July.
Exports to the United States increased 2.1% to $34.7 billion. At the same time, imports from the United States rose 4.3% to $30.9 billion. As a result, Canada’s trade surplus with the United States narrowed from $4.4 billion in June to $3.8 billion in July.
Canadian exports to countries other than the US were up 2.9 per cent to $10.7 billion in July, led by an 11.7 per cent increase in exports to China. Meanwhile, imports from countries other than the US decreased 3.1 per cent to $15.1 billion. Consequently, Canada’s trade deficit with countries other than the US narrowed from $5.2 billion in June to $4.4 billion in July.
The US trade deficit, meanwhile, with other nations shrank 7.4 per cent from June to a seasonally adjusted US$41.86 billion in July, the Commerce Department said Thursday.
Imports fell 1.1 per cent to US$230.36 billion, reflecting falling American demand in July for pharmaceuticals and mobile phones, two consumer-goods categories which tend to swing from month to month. But rising imports across other categories implied that the US economy’s relative strength has supported Americans’ appetite for goods from overseas.