Canada’s trade surplus drops to $769 million on lower gold exports

Skip to Content News Archives Economy Energy Oil & Gas Renewables Electric Vehicles Mining Commodities Agriculture Real Estate Mortgages Mortgage Rates Finance Banking Insurance Fintech Cryptocurrency Work Wealth Smart Money Wealth Management Investor Personal Finance Family Finance Retirement Taxes High Net Worth FP Comment Executive Women Puzzmo Newsletters Financial Times Business Essentials More Innovation Information Technology FP500 Podcasts Small Business Lives Told Tails Told Shopping Financial Post Store Obituaries Place a Notice Advertising Advertising With Us Advertising Solutions Postmedia Ad Manager Sponsorship Requests Classifieds Place a Classifieds ad Working Profile Settings My Subscriptions My Offers Newsletters Customer Service FAQ News Economy Energy Mining Real Estate Finance Work Wealth Investor FP Comment Executive Women Puzzmo Newsletters Financial Times Business Essentials This advertisement has not loaded yet, but your article continues below.HomeNewsEconomyCanada's trade surplus drops to $769 million on lower gold exportsThis is the first decline in exports in six monthsExports of metallic and non-metallic mineral products slid 8.5 per cent, one of the biggest declines. Photo by DAVID GRAY/AFP via Getty ImagesCanada’s trade surplus sharply narrowed to $769 million in July from $4.2 billion in June, driven by a decrease in gold exports to the U.S.THIS CONTENT IS RESERVED FOR SUBSCRIBERS ONLYSubscribe now to read the latest news in your city and across Canada.Exclusive articles from Barbara Shecter, Joe O'Connor, Gabriel Friedman, and others.Daily content from Financial Times, the world's leading global business publication.Unlimited online access to read articles from Financial Post, National Post and 15 news sites across Canada with one account.National Post ePaper, an electronic replica of the print edition to view on any device, share and comment on.Daily puzzles, including the New York Times Crossword.SUBSCRIBE TO UNLOCK MORE ARTICLESSubscribe now to read the latest news in your city and across Canada.Exclusive articles from Barbara Shecter, Joe O'Connor, Gabriel Friedman and others.Daily content from Financial Times, the world's leading global business publication.Unlimited online access to read articles from Financial Post, National Post and 15 news sites across Canada with one account.National Post ePaper, an electronic replica of the print edition to view on any device, share and comment on.Daily puzzles, including the New York Times Crossword.REGISTER / SIGN IN TO UNLOCK MORE ARTICLESCreate an account or sign in to continue with your reading experience.Access articles from across Canada with one account.Share your thoughts and join the conversation in the comments.Enjoy additional articles per month.Get email updates from your favourite authors.THIS ARTICLE IS FREE TO READ REGISTER TO UNLOCK.Create an account or sign in to continue with your reading experience.Access articles from across Canada with one accountShare your thoughts and join the conversation in the commentsEnjoy additional articles per monthGet email updates from your favourite authorsSign In or Create an AccountTotal exports decreased 2.3 per cent in July, the first decline in six months, according to Statistics Canada on Thursday. Exports of metallic and non-metallic mineral products were one of the categories that posted the largest declines — 8.5 per cent — due to lower purchases of Canadian-held gold by foreign residents and lower gold shipments to the United States.The agency also said falling gold prices contributed to the decline in exports. Exports of energy products dipped 4.4 per cent in July due to a decrease in crude oil exports, both in prices and volumes. Crude oil prices bounced back in July, but they were below the average observed in June.SUBSCRIBER EXCLUSIVE: FP West: Energy Insider brings you behind the oilpatch’s closed doors with exclusive insights from insiders every Wednesday morning.By signing up you consent to receive the above newsletter from Postmedia Network Inc.A welcome email is on its way. If you don't see it, please check your junk folder.The next issue of FP West: Energy Insider will soon be in your inbox.We encountered an issue signing you up. Please try againTotal imports rose 2.2 per cent in July, driven by motor vehicles and parts, which rose by a record high of 11.4 per cent. Statistics Canada said July is usually the time when auto assembly plants temporarily close for maintenance, retooling and summer holidays, but the closures were less pronounced this year, especially in the U.S.Canada’s trade surplus with the U.S. narrowed to $5.9 billion in July from $10.3 billion in June, making it the lowest surplus since February 2026. Exports to the U.S. fell 6.6 per cent in July, while imports increased 1.8 per cent.Canada’s trade deficit with non-U.S. markets narrowed to $5.1 billion in July from $6.1 billion in June and was the lowest deficit since January 2021.Exports to non-U.S. markets rose 7.4 per cent to reach a record high of $25.6 billion in July, with higher shipments to the Netherlands, China and Germany contributing the most to the increase.Imports from non-U.S. markets rose 2.8 per cent in July, with higher shipments from China being offset by lower shipments from Germany.In real or volume terms, imports increased 2.2 per cent while exports declined 1.5 per cent.This advertisement has not loaded yet.Notice for the Postmedia NetworkThis website uses cookies to personalize your content (including ads), and allows us to analyze our traffic. Read more about cookies here. By continuing to use our site, you agree to our Terms of Use and Privacy Policy.