FX.co ★ Canada Imports End Rising Streak

Canada’s goods imports declined 2% month over month to C$73.7 billion in August 2026, the first decrease since January. Despite the overall drop, six of the 11 product categories posted gains. Imports of motor vehicles and parts fell 8.8%, with passenger cars and light trucks down 15.4% after hitting a record high in July, when seasonal production shutdowns in the United States were shorter than usual. Imports of metal and non-metallic mineral products decreased 7.0%, driven by a 40% plunge in unwrought gold, silver, platinum group metals, and their alloys, reflecting reduced purchases of gold held in Canada by U.S. residents. Imports of metal ores and non-metallic minerals dropped 15.5% to their lowest level since November 2025, led by a 17.1% decline in other metal ores and concentrates. Lower imports of lead and zinc ores from Australia and Peru, along with reduced imports of gold, silver, and platinum group metal ores from Brazil, Peru, and Mauritania, also contributed to the downturn.