Combining trade in goods and services, Canada’s surplus with the world was $3.8-billion in June, up from $3.7-billion in May
Stephen Brown, senior Canada economist with Capital Economics, cautioned that trade surpluses will likely narrow going forward.
“Export volumes outpaced import volumes in June but, with the survey-based export indices falling back, the outlook is growing more challenging,” Mr. Brown wrote in a note to clients. “Together with the declines in commodity prices since June, it seems likely that the trade surplus will narrow over the summer.”
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