Canada's Trade Surplus Slimmed Down in June
May 03, 2011
OTTAWA -- Canada's trade surplus narrowed in June to 3.14 billion Canadian dollars (US$2.29 billion) from a revised, record surplus of C$3.95 billion in May, Statistics Canada, a government agency, said. Exports declined 1.8% to C$22 billion in June, largely as a result of a drop in shipments of autos and auto parts. Imports rose 2.3% to C$18.86 billion, as purchases of machinery and equipment picked up in the month. The U.S. took 83% of Canada's exports in June and supplied 76.8% of Canada's imports. Canada's trade surplus with the U.S. narrowed to $3.78 billion from C$4.45 billion in May. In the first six months of 2011, Canada's trade surplus with all countries totaled a record C$17.88 billion, up 43% from the first half of 2010.
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