(Ottawa) In June, Canada’s merchandise exports fell 2.2%, while imports fell 0.5%.
As a result, Statistics Canada reports that Canada’s merchandise trade deficit with the world widened from $2.7 billion in May to $3.7 billion in June.
The federal agency reports that exports of metal products and non-metallic mineral products fell 8% in June. Exports of industrial machinery, equipment and parts, basic and industrial chemicals, agricultural and fishing products also fell.
Statistics Canada reports that imports of energy products fell 13% in June, the fifth decline in 2023.
In June, exports to the United States, Canada’s main trading partner, fell 1.2% and imports fell 0.7%. Canada’s trade surplus with the United States narrowed from $7.7 billion in May to $7.4 billion in June.
Meanwhile, exports to countries other than the United States fell 5.5%, while imports from these countries edged down 0.1%, leaving the trade deficit of Canada with countries other than the United States increased from $10.4 billion in May to a record high of $11.2 billion in June.