July 2022 canada trade balance

Details:

  • Exports 68.25B vs 69.9B prior
  • Imports 64.20B vs 64.9B prior
  • Exports -2.8%, imports -1.8%
  • Exports down in 6 of 11 product sections
  • Surplus with the USA +13.3B vs +13.2B prior

A better trade surplus is good news for a currency but when it comes on imports and exports falling, it's not a great sign for the economy. That said, this is the first decline in exports in seven months and came on a drop in global oil prices and other exported goods.