FX.co ★ Canada Exports Reach Fresh Record High

Canada’s goods exports inched up 0.2% to C$78.55 billion in September 2026, following a revised 3.2% gain in August. Despite reaching a record high, the figure came in below market expectations of C$81 billion.

Export growth was driven primarily by energy products, which rose 8.2% for a second consecutive monthly increase. Within this category, exports of crude oil and bitumen climbed 10.2%, while natural gas exports surged 32.1%. In contrast, exports of refined petroleum products declined 13.9%.

Metal and non-metallic mineral exports also posted strong gains, rising 8.6%. This was largely due to a 16.8% increase in exports of unwrought gold, silver, platinum-group metals, and their alloys, reflecting stronger U.S. demand for gold held in Canada.

However, broad-based declines in several other categories restrained overall export growth. Exports of consumer goods fell 7.1%, electronic equipment 13.9%, industrial machinery 9.0%, motor vehicles and parts 4.9%, and forestry products and building materials 9.8%. Many products within these segments were affected by newly imposed U.S. tariffs and had already registered strong gains in August, amplifying the subsequent pullback.