Canadian trade balance data

  • Exports +1.3%
  • Imports -1.4%
  • Export volumes +2.0%
  • Import volumes -1.9%

Canadian canola exports fell 14.7% after China halted shipments. The gain in export volumes over the past two months was the best since 2016.

This is a nice surprise for Canada and will lead to revisions higher in Q2 GDP estimates.