FX.co ★ Canadian Trade Surplus Rises to 4-Year High

Canada posted a trade surplus of C$3.86 billion in June 2026, up from C$3.7 billion in May and the largest surplus in more than four years. Exports edged up 0.4% from the previous month to a record C$77.5 billion.

Export growth was driven by a sharp increase in metal and non-metallic mineral products, which jumped 16.5% to C$15.02 billion, supported by a 27.9% surge in gold exports, mainly to the UK. Exports of metal ores and non-metallic minerals rose 17.3% to C$3.14 billion, buoyed by higher copper ore shipments. These gains more than offset a 10% drop in energy product exports to C$18.37 billion, as a temporary easing of conflict in the Middle East reduced energy prices.

Imports increased 0.2% to a record C$73.6 billion. Declines in imports of industrial machinery, equipment, and parts (down 3.3% to C$7.6 billion) and in metal ores and non-metallic minerals (down 3.4% to C$2.81 billion) partly offset the overall rise.

The depreciation of the Canadian dollar during the period boosted the value of trade flows when measured in Canadian dollars, contributing to higher readings for both imports and exports.