Canada Posts Record Trade Surplus as Weak Loonie Boosts Exports

Canada's trade surplus has widened to $3.9 billion in June due to higher exports and lower imports, according to Statistics Canada.

The value of merchandise exports increased by 0.4% from the previous month, while imports fell by 0.2%. This marks the fourth consecutive month that Canada has seen a trade surplus with the world.

The weaker Canadian dollar was worth around 71 cents US in June, down about 1.7 cents from May - the biggest monthly decline since October 2022.

Despite this, the value of exports increased to a record C$77.5 billion, up from $77.1 billion in May, due to higher volumes rather than prices.