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Canada's trade surplus grows in July

Published by Brad Fougere on September 04, 2014

Canada’s exporting industries played their part in driving the Canadian economy forward in July. Led by a spike in sales of motor vehicles and parts, exports reached even further into record territory.
Exports rose by 1.4 per cent for the month, hitting $45.5 billion.

For their part, imports into Canada fell for the second consecutive month in July. The 0.3 per cent drop caused Canada’s monthly trade surplus to widen to $2.6 billion in July from $1.8 billion in June.

That figure represents Canada’s largest single-month trade surplus since October 2008.
With revisions in previous months’ data, July marks the third consecutive month in which Canada has finally moved past its pre-recession export peak.

From January through July 2014, total exports are 13.3 per cent higher compared to the same period in 2013.

Manufactured goods figured prominently in Canada’s July export gains. In addition to motor vehicles and parts exports, which increased by 9.7 per cent in July, pulp and paper sales showed strong gains in July (7.6 per cent), as did exports of computers and telecommunications equipment (6.9 per cent).

While exports of energy and raw minerals dipped in July, sales of intermediate or finished goods were strong.

Offsetting those gains to some degree were declines in exports of crude oil and other energy products, as well as mineral ores and chemical products.

At the provincial level, Newfoundland and Labrador and Alberta saw the largest export gains in June. Exports from Newfoundland were up 20.6 per cent over June levels, while in Alberta, exports were 5.1 per cent higher.

Found in: StatsCan

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Alberta British Columbia
Manitoba New Brunswick
Newfoundland & Labrador Nova Scotia
Ontario Québec
Prince Edward Island Saskatchewan