Statistics Canada indicates Tuesday that Canadian exporters did more business with the United States in June

Statistics Canada said on Tuesday that Canadian exporters did more business with the United States in June. Meanwhile, despite the increase in customs duties.

According to the agency, exports to the United States increased by 3.1 % in June, but they were still down 12.5 % over one year.

Canada’s trade surplus with the United States increased from $ 3.6 billion in May to $ 3.9 billion in June, imports progressing less than exports.

Overall, Canada’s trade deficit with the world has widened to quantify $ 5.9 billion in June, compared to $ 5.5 billion in May.

The June figures close a first volatile semester. Therefore, marked by fluctuations in American customs duties that have distorted Canadian trade volumes.

According to Statistics Canada. Meanwhile, total exports increased slightly for the second consecutive month in June, after having recorded their highest drop in almost five years in April, when statistics canada indicates tuesday canadian customs duties have taken full effect. Furthermore, This increase is largely attributable to the increase in energy exports.

The agency indicates that the increase in imports in June is linked to a high-value punctual expedition: an extracost oil. Similarly, project module from the United States to Newfoundland.

This import of imports was somewhat offset by the increase in export prices for Canadian companies, according to the agency. Nevertheless, In volume, exports decreased during the month.

Uncertainty

CIBC’s main economist. Andrew Grantham, said in a note on Tuesday to its customers that, although bilateral trade resumed in June, the latest figures show that “Canadian trade has still not found a new basis”.

“Although commercial flows should stabilize in the coming months. their level will probably remain lower than that observed last year due to the American pricing policy in force and the uncertainty that follows from it,” comments Mr. Grantham.

In addition. the drop in exports statistics canada indicates tuesday canadian of metals and mineral products is attributable to the decline in raw gold expeditions to the United Kingdom, Specifies Statistical Canada.

The decline in exports of certain metals coincided with the United States doubling by the United States on steel. aluminum, bringing them 50 % at the beginning of the month.

Exports of gross aluminum. steel products decreased by more than 11 % during the month, while exports of automobile parts dropped by 4.2 %.

Customs duties. high customs duties imposed by the United States have distorted Canada’s foreign trade figures during the first half.

According to Statistics Canada, total exports increased by 2.2 % in the first six months of 2025 compared to the same period in 2024.

After exports reached a record level in the first quarter – economists believe that companies have accelerated their activities to anticipate the entry into force of customs duties in March. April -, Statistics Canada specifies statistics canada indicates tuesday canadian that total exports plunged 12.8 % in the second quarter.

Canada’s quarterly trade deficit reached a record of $ 19 billion in the second quarter. compared to $ 388 million in the first quarter.

Nathan Janzen, deputy chief economist at the Royal Bank, indicates in a note that Canadian export volumes dropped 31.4 % annualized in the second quarter of 2025.

“The fall in Canadian export volumes in the second quarter is being considerably reduced Canadian GDP in the second quarter. after an increase before the entry into force of customs duties in the first quarter, when American importers rushed to impose customs duties,” said Janzen.

According to Statistics Canada. exports to countries other than the United States decreased in June, after reaching a record summit in May and marking the first decline in this category since February.

The role of ACEUM

The June figures do not take into account the impact of the statistics canada indicates tuesday canadian recent decision of the American president Donald Trump to impose customs duties of 35 % on Canadian imports as well as global customs duties of 50 % on semi-finished copper. from August 1.

However. as the most recent customs duties will continue to exempt Canadian goods in accordance with the Canada-US-Mexico trade agreement, the Royal Bank provides that higher rights will only apply about 6 % of goods crossing the border.

“We continue to think that the current rules. if they are maintained as it would leave Canada with the lowest customs duties of all the main trade partners of the United States, which would place Canadian exporters in a relatively more advantageous position to compete with other countries on the American import market,” writes Mr. Janzen.

In a separate publication, Statistics Canada reveals that monthly service exports increased by 1 % to $ 18 billion in June.

Taking into account the goods. services, statistics canada indicates tuesday canadian the agency announces that the total Canada trade deficit with Le Monde amounted to $ 6.5 billion in June, compared to $ 6.4 billion in the previous month.

Statistics canada indicates tuesday canadian

To watch in video