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Canada trade surplus widens on record energy exports, but seen narrowing

From brecorder.com

Canada’s trade surplus with the world widened to C$5.05 billion ($3.94 billion) in June as exports of energy products reached a record high but analysts said it would narrow in months to come thanks to lower crude prices. Statistics Canada said on Thursday that exports rose 2.0% in June, driven mainly by energy but also gold, while petroleum and motor gas pushed imports 1.7% higher. Analysts had forecast a June surplus of C$4.80 billion. Statscan revised May’s surplus down to C$4.77 billion from an initial C$5.32 billion. Energy exports rose 3.2% to reach an all-time high of C$21 billion and made up just under a ... (full story)

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  • Category: Fundamental Analysis