News

Canada’s trade deficit narrows to $5.9B

todayJuly 3, 2025

Background

The trade war with the United States continues to impact trade here in Canada.

Our trade deficit narrowed to $5.9 billion in May, according to Statistics Canada.

That was down from a record high of $7.6 billion we saw the previous month.

Exports rose for the first time in four months, up 1.1 per cent after an 11 per cent decline in April.

However, exports to the United States were down by 0.9 per cent, the fourth straight monthly drop.

Looking at all other countries, exports actually rose by 5.7 per cent in May to reach a record high.

Total imports were down 1.6 per cent, marking a third consecutive monthly decline.

Imports from the U.S. fell 1.2 per cent while imports from other countries dropped by two per cent.


Written by: Stevenson Media Group

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