FX.co ★ Canada Imports Edge Lower in May

Canada’s merchandise imports slipped 0.2% month over month to CAD 72.86 billion in May 2026, following a record high in April. Imports of metal and non-metallic mineral products fell 18.2%, led by a 33.0% decline in unwrought gold, silver, and platinum group metals and their alloys. Basic and semi-finished iron and steel products dropped 22.7%, while waste and scrap metal (-20.0%) and non-ferrous metals and alloys (-21.2%) also posted steep decreases. These declines were partly offset by a 3.5% increase in consumer goods imports, driven by a 10.0% rise in miscellaneous goods and supplies, reflecting mainly higher imports of batteries and battery chargers from China.