Canada’s trade surplus reaches C$4.2 billion in August

Canada recorded a merchandise trade surplus of C$4.2 billion in August, up from C$787 million in July, Statistics Canada reports. Exports rose 2.5% and imports fell 2.0%. [1]

Different flows across markets

Sales to the United States increased 8.1%. The bilateral surplus reached C$11.2 billion, while the deficit with other countries stood at C$7.0 billion. [1]

Timing matters

Reuters reports that exporters accelerated shipments before U.S. tariffs took effect on August 22. Economists interviewed expect September figures to provide a clearer picture of their impact. [2]

The report also highlights increased energy exports and lower vehicle imports. These monthly movements alone do not establish a lasting improvement in trade. [2]