Canada's Trade Surplus Hits Four-Year High Amid U.S. Export Growth

Canada's merchandise trade surplus reached a four-year high in May, driven by increased exports to the U.S. Despite facing challenges from former President Trump's tariffs, Canada's exports to the U.S. surged 1.5%, leading to a trade surplus of C$4.24 billion. Metal ores and minerals saw notable export increases, while energy exports declined.

In May, Canada achieved its largest merchandise trade surplus in four years, reaching C$4.24 billion, due to a spike in exports to the United States.

This was the third consecutive month of surplus, with a significant 1.5% rise in exports to Canada's principal trading partner, the U.S.

While exports to countries beyond the U.S. declined, notable growth was seen in metal ore exports, although crude oil exports experienced a downturn.