Canada’s trade surplus narrows on falling lumber prices
by Bloomberg Sep 02, 2021
Canada’s trade surplus with the rest of the world narrowed in July as lumber exports plunged.
The country’s merchandise trade surplus was C$778 million ($617 million) in July from a revised C$2.6 billion in June. Economists were predicting a surplus of C$1.7 billion in July, according to the median estimate in a Bloomberg survey.
Exports rose 0.6%, hitting a record C$53.7 billion. Exports of lumber and other sawmill products dropped 24% on lower prices.
Imports rose 4.2%, also to a record, on the back of a surge in car shipments.
Bloomberg
© Bloomberg
The author’s opinion are not necessarily the opinions of the American Journal of Transportation (AJOT).
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