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Canada’s Trade Surplus Reaches Four-Year High Before US Tariffs
Canada sold more goods to other countries in August than it bought from them.
That left the country with a trade surplus of C$4.2 billion, its biggest in more than four years.
Exports rose, while imports fell.
Shipments to the United States increased especially sharply.
Some Canadian businesses hurried to send goods before new US tariffs began on August 22.
Energy products were the biggest export category, and several other kinds of goods also saw increases.
But exports to countries outside the United States went down.
Economists say later figures may show more clearly how the tariffs affect trade.
Canada’s August trade surplus rose to C$4.2 billion, its highest level in more than four years.
Exports increased 2.5% to C$77.91 billion, while imports fell 2% to C$73.71 billion.
Exports to the United States climbed 8.1% as businesses rushed to ship goods before new tariffs took effect on August 22.
Energy, consumer goods, machinery and electronic equipment were among the export categories that grew.
Exports outside the United States fell 8.5%, and Canada’s trade deficit with the rest of the world widened to C$7 billion.
- Who
- Canadian exporters and importers, including businesses trading with the United States.
- What
- Canada recorded a C$4.2 billion trade surplus in August as exports rose and imports fell.
- Where
- Canada’s trade with the United States and other countries.
- When
- August; the new US tariffs took effect on August 22.
- Why
- Exporters accelerated shipments to the United States ahead of new US tariffs on Canadian goods.
Key facts
- August trade surplus
- C$4.2 billion
- Exports
- Rose 2.5% to C$77.91 billion
- Imports
- Fell 2% to C$73.71 billion
- Exports to the United States
- Rose 8.1%
- Imports from the United States
- Fell 2.5%
- Trade surplus with the United States
- C$11.2 billion
- Trade deficit with countries outside the United States
- Widened to C$7 billion from C$5.3 billion
- Tariff start date
- August 22
Sources
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