Canada recorded a $638M trade surplus in June due to increased oil and gold exports.

Canada recorded a $638M trade surplus in June due to increased oil and gold exports, surpassing economists' expectations of a deficit. Total exports increased 5.5% to $66.6B, driven by energy product exports and gold, while total imports rose 1.9% to $66B, with car imports leading the increase. This marks the first trade surplus since February and is in line with the Bank of Canada's expectations of stronger economic growth in H2 2024.

August 06, 2024
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