Canada's trade surplus widens to more than four-year high in August
SPY•Canada's trade surplus widened to C$4.2 billion in August, above analysts' C$1.55 billion forecast, as exports rose 2.5% to C$77.91 billion and imports fell 2% to C$73.71 billion.
1. Surplus widens
Canada's August trade surplus reached C$4.2 billion, up from an upwardly revised C$787 million in July. The surplus with the United States rose to C$11.2 billion, a 19-month high.
2. Exports and imports
Exports to the United States surged 8.1% as shippers moved goods ahead of new U.S. tariffs that took effect on August 22. Energy exports rose 4.7% to C$19.03 billion, while imports of motor vehicles and parts recorded the largest decline.
3. Trade beyond the U.S.
Exports to countries outside the United States fell 8.5% after rising 8.2% in July, and the trade deficit with those countries widened to C$7.0 billion from C$5.3 billion. Economists said September data would show a more accurate impact of the new tariffs and Canada's counter-tariffs.
