Canada's Trade Surplus Hits Four-Year High in May, Driven Entirely by Price Effects

According to Macroeconomics Academy analyst Ariana Curtiss, Canada's merchandise trade surplus expanded further to a four-year peak on July 7, though the improvement is primarily driven by price effects rather than export volume growth. Export volumes remained largely unchanged, but May imports increased, signaling gradual improvement in domestic demand. The trade data aligns with May's preliminary GDP growth estimate of 0.1% quarter-over-quarter.
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