Canada's Merchandise Trade Surplus Hits $3.9 Billion in June

Canada's merchandise trade surplus increased to $3.9 billion in June, as a weaker loonie pushed trade values higher.

The average value of the Canadian dollar dropped 1.7 cents US in June compared to May, its largest monthly decline since October 2022.

Total exports gained 0.4% in June, reaching a record $77.5 billion, while imports edged up 0.2% to $73.6 billion.

Exports of metal and non-metallic minerals rose 16.5%, driven by higher gold shipments, but energy product exports dropped 10% due to falling oil prices.