Canada July trade balance -1.12B vs -0.35B expected
Canadian international merchandise trade data:
- Prior was +0.14B (revised to -0.06B)
- Imports +1.2%
- Exports -0.9%
- Surplus with the US $4.6B
- Deficit with the rest of the world $5.7B
Imports of consumer goods contributed the most to the increase, led by pharma imports. Imports of aircraft and other transportation parts and equipment were also high. Both categories tend to be lumpy so the underlying trend may be a bit lower.
Exports declined in 6 of 11 categories. Non-energy exports rose 0.5% and the dip was largely a function of falling oil prices.