Canada's Merchandise Trade Surplus Widens to $3.9 Billion in June

Canada's merchandise exports saw a slight increase of 0.4% in June, while imports edged up by 0.2%. As a result, the country's merchandise trade surplus with the world widened to $3.9 billion from $3.7 billion in May. This marks the fourth consecutive monthly trade surplus.

The Canadian dollar plays a significant role in compiling monthly trade statistics, as many import and export transactions are completed in US dollars that must be converted to Canadian dollars. When the Canadian dollar depreciates against the US dollar, trade values expressed in Canadian dollars tend to increase.