Canadian merchandise exports reach all-time high

CNS Canada – Exports of Canadian merchandise reached an all-time high of C$50.699 billion in June of this year with exports of farm, fishing and intermediate food products making up $C2.981 billion of that.

Statistics Canada reported on Aug. 7 that farm, fishing and intermediate food product exports rose 7.6 per cent year over year, from June 2017 to June 2018.

Statistics Canada did not break out separate data for farm products alone.

Energy led the way in the overall export picture, rising to C$9.859 billion in June 2018 from 7.325 billion in June last year, for an increase of 34.6 per cent.

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Metal, ores and non-metallic minerals rose 19 per cent year over the year from June to June with C$1.678 billion this year and C$1.410 billion last year.

Motor vehicles and parts had the worst export performance for year over year, with C$7.577 billion reported this year compared to C$8.400 billion in June of 2017.

The farm, fishing and intermediate food products sector posted imports of C$1.515 billion in June of 2018 compared to C$1.490 billion in June of 2017 for a change of 1.6 per cent.

The energy sector saw the largest value of imports outside of special transactions trade at C$2.862 billion for June of 2018, compared to C2.525 billion in June of 2017.

Meanwhile, Canada’s overall trade deficit with all countries fell to C$626 million in June from C$2.7 billion in June of 2017, the smallest monthly deficit since January 2017.

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