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    • Statistics Canada says merchandise trade surplus falls to $4.1B in July

    Statistics Canada building and signs are pictured in Ottawa on July 3, 2019. (Sean Kilpatrick / THE CANADIAN PRESS) Statistics Canada building and signs are pictured in Ottawa on July 3, 2019. (Sean Kilpatrick / THE CANADIAN PRESS)
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    the country's merchandise trade surplus fell to $4.1 billion in July as lower prices weighed on the total value of exports for the month.

    The reading compared with a revised merchandise trade surplus of $4.9 billion in June.

    Statistics Canada says exports in July fell 2.8 per cent to $68.3 billion, the first monthly decrease in exports for 2022. In volume terms, however, exports were up 1.7 per cent for the month.

    Meanwhile, imports fell 1.8 per cent to $64.2 billion as imports of consumer goods fell 4.2 per cent. Total imports in volume terms fell 1.4 per cent.

    In a separate report, Statistics Canada says the country's international trade in services deficit was $1.8 billion in July compared with $1.2 billion in June.

    Combined, Canada's trade surplus for goods and services was $2.3 billion in July compared with $3.7 billion in June.

    This report by The Canadian Press was first published Sept. 7, 2022

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