Canada reported merchandise trade surplus of CAD 718m in August, marking its first monthly trade surplus since April. This comes after a deficit of CAD 437m in July and defies market expectations of a CAD -1.4B deficit.
Driving this positive turnaround, exports in August jumped by 5.7% mom, marking the most robust growth since October 2021. This surge was widespread, with gains registered in 7 of the 11 product sections.
Meanwhile, imports also witnessed a 3.8% mom uptick, with increments seen in 9 of the 11 product sections.
Full Canada trade release here.
