Canada’s trade surplus narrows to $778M in July as imports outpaced exports

Statistics Canada says the country’s merchandise trade surplus fell to $778 million in July as imports rose more than exports for the month.

The result compared with a revised trade surplus of $2.6 billion for June compared with the initial reading of a $3.2 billion surplus.The July surplus came as total imports rose 4.2 per cent to reach a record high of $53.0 billion. Statistics Canada says motor vehicles and parts climbed 21.1 per cent and accounted for more than two-thirds of the overall increase.

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