Canadian international merchandise trade, July 2026

Released: 2026-09-03

In July, Canada's merchandise exports decreased 2.3%, while imports were up 2.2%. As a result, Canada's merchandise trade surplus with the world narrowed from $4.2 billion in June to $769 million in July. This was the fifth consecutive monthly trade surplus.

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

First decline in exports in six months

Following five consecutive monthly increases, total exports were down 2.3% in July. Overall, decreases were observed in 7 of the 11 product sections, with exports of metal and non-metallic mineral products and exports of energy products posting the largest declines. Excluding these two product sections, exports increased 0.6% in July. In real (or volume) terms, total exports were down 1.5%.

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

Following a 15.8% increase in June, exports of metal and non-metallic mineral products decreased 8.5% in July. Lower exports of unwrought gold, silver, and platinum group metals, and their alloys (-13.1%) were behind the decline in July, mainly because of lower purchases of Canadian-held gold by foreign residents, as well as fewer shipments destined for the United States. Lower prices also contributed to the decreased values of exports in July. Since the peak observed in February 2026, export prices of unwrought gold, silver, and platinum group metals, and their alloys have decreased 9.0%.

Exports of energy products decreased 4.4% in July, a third consecutive monthly decline. Exports of crude oil (-5.6%) decreased the most, with prices and volumes both falling. While crude oil market prices bounced back during the month of July, they were below the average observed in June. Exports of crude oil are estimated for the current reference month, and these estimates are subject to larger revisions during times of high price volatility. Following two consecutive monthly increases, exports of natural gas (-14.0%) also fell in July.

Chart 3 
Exports of energy products

The overall decrease in total exports in July was partially offset by higher exports of aircraft and other transportation equipment and parts (+34.9%). Following two consecutive monthly declines, exports of aircraft were up 80.1% and contributed the most to the increase in the product section. While typically very few aircraft are exported in the first month of a quarter, a number of commercial aircraft and business jets were exported to various overseas destinations in July.

Exports of farm, fishing and intermediate food products also increased in July, rising 5.5% to reach their highest level since March 2023. Exports of canola increased 43.2% in July 2026, mainly on higher shipments to China, Pakistan and Japan. Canola exports were up 32.2% in the first seven months of 2026 compared with the same period in 2025.

Chart 4 
Exports of canola

Imports of motor vehicles and parts reach a record high

Total imports rose 2.2% in July, a sixth consecutive monthly increase. Overall, increases were observed in 6 of the 11 product sections. In real (or volume) terms, total imports were also up 2.2%.

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

Imports of motor vehicles and parts rose 11.4% to reach a record high in July. This was the fifth monthly increase in the first seven months of 2026 for this product section. The month of July is typically marked by temporary closures at North American automotive assembly plants for retooling, maintenance and summer holidays. The effects of these seasonal stoppages were less pronounced this year, especially in the United States, leading to a sharp increase in imports of passenger cars and light trucks (+19.8%) on a seasonally adjusted basis.

Chart 6 
Imports of motor vehicles and parts

Imports of metal and non-metallic mineral products increased 9.3% in July. Imports of basic and semi-finished products of non-ferrous metals and non-ferrous metal alloys (+49.7%), which rose on higher shipments of copper anodes from Chile, increased the most in July. Imports of unwrought gold, silver, and platinum group metals, and their alloys (+14.6%) also contributed to the monthly gain in the product section. Higher purchases of gold in Canada held by US residents were behind the increase.

In July, several product sections posted notable declines that moderated the increase in total imports. These product sections included energy products (-8.2%); electronic and electrical equipment and parts (-3.3%); and aircraft and other transportation equipment and parts (-8.1%).

Exports to the United States decrease sharply

Exports to the United States fell 6.6% in July, which was the strongest percentage decrease since April 2025. Lower exports of crude oil and gold were behind the decline in the month. Meanwhile, imports from the United States increased 1.8%, mainly because of higher imports of passenger cars and light trucks. As a result, Canada's trade surplus with the United States narrowed from $10.3 billion in June to $5.9 billion in July, the lowest surplus since February 2026.

Chart 7 
Merchandise trade with the United States

Exports to countries other than the United States reach a record high

Exports to countries other than the United States rose 7.4% in July, a third consecutive monthly increase, to reach a record high of $25.6 billion. Higher exports to the Netherlands (iron ores, nuclear fuel and crude oil), China (various products) and Germany (copper ores) contributed the most to the increase. The share of Canadian exports destined to countries other than the United States was 33.7% in July.

Meanwhile, imports from countries other than the United States increased 2.8% in July. Higher imports from China (various products) were partially offset by lower imports from Germany (aircraft and passenger cars).

Canada's trade deficit with countries other than the United States narrowed from $6.1 billion in June to $5.1 billion in July. This was the lowest deficit observed since January 2021.

Chart 8 
Merchandise trade with countries other than the United States

Chart 9 
International merchandise trade balance

Revisions to June merchandise export and import data

Imports in June, originally reported at $73.6 billion in the previous release, were revised to $73.8 billion in the current reference month's release. Exports in June, originally reported at $77.5 billion in the previous release, were revised to $78.0 billion in the current reference month's release.

Monthly trade in services

In July, monthly service exports rose 1.2% to $21.0 billion. Meanwhile, imports of services decreased 1.1% to $20.7 billion.

When international trade in goods and services are combined, exports fell 1.6% to $97.2 billion in July, while imports increased 1.5% to $96.1 billion. Canada's total trade surplus with the world went from $4.0 billion in June to $1.1 billion in July.

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).