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Market Update: Canada Exports Hit Record High
Exports from Canada surged 8.7% mom to a record high of CAD 53.8 billion in June. Exports were up in 9 of the 11 product sections, mainly on account of energy products (+22.9%) which increased sharply to CAD 11.3 billion in June, the highest level since March 2019. Also, exports of motor vehicles and parts rose 14.9%, namely passenger cars and light trucks (24.6%), as work stoppages at Canadian assembly plants in June were less severe than in April and May. Exports of metal and non-metallic mineral products increased 12.7% to a record CAD 6.7 billion. Exports of unwrought gold, silver, and platinum group metals, and their alloys, a category mainly composed of gold, contributed the most to the gain. source: Statistics Canada [/s2If]
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