Canadian international merchandise trade, May 2026

Released: 2026-07-07

In May, Canada's merchandise exports increased 0.9%, while imports edged down 0.2%. As a result, Canada's merchandise trade surplus with the world widened from $3.4 billion in April to $4.2 billion in May. This was the third consecutive month with a trade surplus for Canada.

Consult the "International trade monthly interactive dashboard" to explore the most recent results of Canada's international trade in an interactive format.

Chart 1 
Merchandise exports and imports

Exports increase for a fourth consecutive month

Total exports were up 0.9% in May to a record $77.1 billion. This represented a fourth consecutive monthly increase, with exports rising 22.2% over this period. In May, increases were observed in 7 of the 11 product sections. Excluding energy products, exports rose 2.0%. In real (or volume) terms, total exports were essentially unchanged.

Chart 2 
Contribution to the monthly change in exports, by product, May 2026

Exports of metal ores and non-metallic minerals (+16.1%) posted the largest increase in May, with gains observed in most product groups. Exports of diamonds and other non-metallic minerals (+37.0%) rose sharply in May, mainly driven by higher sulphur exports. This increase occurred in a context of constrained global supply, as sulphur shipments transiting through the Strait of Hormuz have slowed since the conflict in the Middle East began. Exports of other metal ores and concentrates, which more than doubled in May, also contributed to the monthly increase, largely on new shipments of gold ores and concentrates to China.

Exports of metal and non-metallic mineral products were up 1.5% in May, despite a 4.1% decrease in exports of unwrought gold, silver, and platinum group metals, and their alloys—a category largely composed of unwrought gold. Exports of unwrought aluminum and aluminum alloys (+50.7%) contributed the most to the growth in this product section, mainly on higher exports to the Netherlands, Italy and Greece. Exports of unwrought aluminum and aluminum alloys reached $1.2 billion in May, the highest value since the record high observed in May 2022.

Chart 3 
Exports of unwrought aluminum and aluminum alloys

Other product sections saw notable gains in May, with widespread increases observed among their product subcategories. These included consumer goods (+3.9%), basic and industrial chemical, plastic and rubber products (+5.6%) and farm, fishing and intermediate food products (+2.4%).

The growth in total exports was partly offset by a 2.0% decrease in exports of energy products. This decline followed a 43.1% increase from February to April, which was mainly the result of a sharp rise in crude oil prices. In May, lower exports of crude oil (-5.4%) contributed the most to the drop in the product section, due to lower volumes. Exports of crude oil are estimated for the most recent reference month, and these estimates are subject to larger revisions during times of high volatility in prices. Higher exports of nuclear fuel (+55.1%), natural gas (+7.4%) and refined petroleum energy products (+4.6%) moderated the overall decline in energy products.

Chart 4 
Exports of crude oil and bitumen

Gold imports fall in May

After reaching a record high in April, total imports edged down 0.2% in May. This decrease occurred despite increases in 9 of the 11 product sections, as lower imports of metal and non-metallic mineral products more than offset these gains. Excluding this product section, imports rose 1.9% in May. Lower prices affected imports in May; in real (or volume) terms, total imports were up 0.4%.

Chart 5 
Contribution to the monthly change in imports, by product, May 2026

Imports of metal and non-metallic mineral products fell 18.2% in May, a second consecutive monthly decrease. Imports of unwrought gold, silver, and platinum group metals, and their alloys (-33.0%) saw the largest decline, mainly due to lower purchases of gold from non-residents. Imports of basic and semi-finished iron or steel products (-22.7%) contributed to the decline as well, posting their lowest level since December 2020. Imports of waste and scrap of metal (-20.0%) and basic and semi-finished products of non-ferrous metals and non-ferrous metal alloys (-21.2%) also posted notable declines in May.

Chart 6 
Imports and exports of unwrought gold, silver, and platinum group metals, and their alloys

The decrease in total imports in May was partly offset by a 3.5% increase in imports of consumer goods. Imports of miscellaneous goods and supplies (+10.0%) increased the most, driven by higher imports of batteries and battery chargers from China. Following declines in the previous two months, imports of pharmaceutical and medicinal products were up 6.4% in May, largely on higher imports from Germany, the United States and Spain.

In May, several other product sections posted notable increases, which moderated the decline in total imports. These product sections included basic and industrial chemical, plastic and rubber products (+3.8%), industrial machinery, equipment and parts (+2.8%), metal ores and non-metallic minerals (+5.8%), aircraft and other transportation equipment and parts (+5.7%) and motor vehicles and parts (+1.2%).

Exports to the United States up for a fourth consecutive month

Exports to the United States rose 1.5% in May, a fourth consecutive monthly increase. Meanwhile, imports from the United States fell 1.4% in May. As a result, Canada's trade surplus with the United States widened from $10.3 billion in April to $11.6 billion in May. This was the largest surplus since the record high observed in January 2025.

Chart 7 
Merchandise trade with the United States

Exports to countries other than the United States fall for a second consecutive month

Following a 4.0% decrease in April, exports to countries other than the United States edged down 0.3% in May. Lower exports of unwrought gold to the United Kingdom contributed significantly to the decline. This decrease was partially offset by higher exports to the Netherlands (aluminum and nuclear fuel) and Switzerland (unwrought gold).

Meanwhile, imports from countries other than the United States rose 1.5% in May. Imports from South Korea (passenger cars and light trucks) and China (various products) contributed the most to the increase.

Canada's trade deficit with countries other than the United States widened from $6.9 billion in April to $7.4 billion in May.

Chart 8 
Merchandise trade with countries other than the United States

Chart 9 
International merchandise trade balance

Revisions to April merchandise export and import data

Imports in April, originally reported at $72.4 billion in the previous release, were revised to $73.0 billion in the current reference month's release. Exports in April, originally reported at $75.2 billion in the previous release, were revised to $76.4 billion in the current reference month's release, mainly because estimates for exports of crude oil were replaced with actual data.

Monthly trade in services

In May, monthly service exports were up 0.9% to $20.8 billion. Meanwhile, imports of services were up 2.0% to $21.2 billion.

When international trade in goods and services are combined, exports increased 0.9% to $97.9 billion in May, while imports edged up 0.3% to $94.1 billion. Canada's total trade surplus with the world went from $3.2 billion in April to $3.8 billion in May.

Products

The International trade statistics portal is now available on the Statistics Canada website.

The product "International trade monthly interactive dashboard" (Catalogue number71-607-X) is now available. This interactive dashboard is a comprehensive analytical tool that presents monthly changes in Canada's international merchandise trade data on a balance-of-payments basis, fully supporting the information presented every month in the Daily release.

The product "The International Trade Explorer" (Catalogue number71-607-X) is now available online.

The updated "Canada and the World Statistics Hub" (Catalogue number13-609-X) is available online. This product illustrates the nature and extent of Canada's economic and financial relationship with the world using interactive charts and tables. It provides easy access to information on trade, investment, employment and travel between Canada and a number of countries, including the United States, Mexico, China, Japan, Belgium, Italy, the Netherlands and Spain.

The product "Canada's international trade and investment country fact sheet" (Catalogue number71-607-X) is also available.

The online Canadian International Merchandise Trade Database is no longer available. It has been replaced by the Canadian International Merchandise Trade Web Application (Catalogue number71-607-X), a modern tool that provides trade data users with a number of enhancements.

Contact information

For more information, or to enquire about the concepts, methods or data quality of this release, contact us (toll-free 1-800-263-1136; 514-283-8300; infostats@statcan.gc.ca) or Media Relations (statcan.mediahotline-ligneinfomedias.statcan@statcan.gc.ca).