Energy Exports to U.S. Rise as Trade Surplus Expands to $5.8 Billion in June

(The Canadian Press)

Energy exports to the United States increased as Canada’s trade surplus with the world expanded to $5.8 billion in June from $5.2 billion in May. Statistics Canada reports companies exported merchandise worth $43.2 billion in June, up 3.1% from the previous month.

Prices increased 4.5% while volumes declined 1.4%. Overall, export prices have been on the rise for the past eight months, while volumes have been trending downward.

Imports rose two per cent to $37.4 billion, the third straight monthly increase. Prices rose 2.6%, while volumes declined 0.6%.

Exports to the United States rose 5.3% to $32.8 billion. Imports also increased, but to a lesser extent, yielding a trade surplus with the United States of $9.6 billion, up from $8.1 billion.

The trade deficit with countries other than the United States expanded to $3.9 billion from $2.9 billion in May, largely due to increased imports of crude petroleum.

Canadian International Merchandise Trade report is on the Statistics Canada website and Export and Import Price Indexes report is here.