Wednesday, October 8, 2025

Latest

Canada Falls Back Into $1.4 Billion Trade Deficit in May Amid Higher Imports

Canada’s trade balance jumped from a revised surplus of $462 million to a deficit of $1.4 billion in May, as merchandise exports declined 1.6% and imports rose 2.1%.

Following a decline of 4.1% in April, total imports rose to $50.9 billion, with increases being noted across 7 of the 11 product sections. Imports of metal and non-metallic mineral products surged 17.7% in May, to a new record-high of $5.3 billion. Consumer product imports were also 4.8% higher, largely due to a 8.2% jump in the imports of pharmaceutical and medicinal products.

On the other hand, Canada’s exports fell to $49.5 billion in May, as declines were noted across 8 of the 11 product categories. The majority of the decline stemmed from an 8.8% drop in consumer goods exports, of which seafood products posted a 46.5% decrease. Similarly, exports of motor vehicles and parts also fell 5.8% in May, marking the seventh decline over the past eight months, as automakers around the world were forced to reduce production amid the global semiconductor shortage.

Partially offsetting the decline was an 8.9% increase in forestry products and building and packaging materials exports, which rose to a record $5.2 billion in May. The increase was led by elevated lumber exports, which rose 19.6% amid higher prices.

In the meantime, Canada’s trade deficit with non-US countries widened even further in May, from $6.1 billion in April to a record $7.5 billion. Imports from the US rose 0.1% in May, while exports to the neighbouring country dropped 1.1%. As a result, Canada’s trade surplus with the US declined from $6.6 billion in April to $6.1 billion in May.


Information for this briefing was found via Statistics Canada. The author has no securities or affiliations related to this organization. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.

Video Articles

Fortune Bay: The Potential Billion Dollar Project

Japan Gold Enters New Chapter as Barrick Alliance Concludes – John Proust

Barrick Mining’s “Company Defining [Gold] Discovery”

Recommended

Nord Precious Metals Produces High Grade Silver Concentrate From Tailings

ESGold Secures $9 Million In Non-Dilutive Funding From Ocean Partners

Related News

New Vehicle Purchases Rebound for Second Consecutive Month, June Sales Surpass Pre-Pandemic Levels by 18%

As the coronavirus pandemic brought many sectors of Canada’s economy to a screeching halt in...

Wednesday, August 19, 2020, 06:07:00 PM

Canada Plans to Reduce Temporary Resident Influx

Canada is taking steps to rein in the surging number of temporary residents entering the...

Friday, March 22, 2024, 03:55:00 PM

Trump’s Sweeping 25% Tariff on Canada, Mexico Threatens Economic War

In a move surprising no one yet has the potential to rock North American economics,...

Tuesday, November 26, 2024, 07:45:06 AM

UPDATED: Canadian Authorities Had Tracked Balloon Since Last Weekend

UPDATED: Original story has been modified. According to sources, Canadian officials had been tracking a...

Friday, February 3, 2023, 02:17:07 PM

25,000 Canadians Are Demanding Homeowner Relief Amid Rising Interest Rates

Canadians are definitely feeling the pinch of rising interest rates. In a petition on Change.org,...

Monday, October 17, 2022, 05:07:00 PM