Exports up, imports down in July

Merchandise exports from Canada increased 1.4% in July to $45 billion, Statistics Canada reported September 4, driven in large part by a 9.7% jump in motor vehicles and parts.

The majority of these exports were to the United States, where a 1.9% increase resulted in total exports of $34.4 billion.

According to Robert Kavcic, senior economist and vice president, economic research at BMO, “the rising tide of stronger U.S. demand and past weakness in the Canadian dollar is now lifting almost all export ships.”

Imports dropped 0.3% to $43 billion. As a result, Canada’s trade surplus with the world saw a jump to $2.6 billion, easily beating analysts’ expectations...

This has been excerpted from the 4 September 2014 article by Business Vancouver.