Statistics Canada reports $136m trade surplus in June, imports, exports down

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OTTAWA — Statistics Canada says the country’s trade surplus narrowed in June to $136 million, as both exports and imports dropped largely due to trade decreases in crude oil, aircraft and other transportation equipment and parts.

The federal agency says exports fell 5.1 per cent to $50.3 billion, offsetting a strong gain in May amid a 3.6 per cent drop in export prices.

Exports of crude oil dropped 8.6 per cent, the first monthly decrease this year, as crude oil export prices fell 13.5 per cent even as volumes rose 5.6 per cent.

Aircraft exports, meanwhile, were down 40.8 per cent, mainly on lower shipments of commercial aircraft to the United States.

Imports were down 4.3 per cent to $50.2 billion, the lowest level since November 2018.

Analysts had expected a trade deficit of $300 million, according to financial services firm Refinitiv.

June’s surplus narrowed from a stronger $556 million in May.