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Canada's merchandise imports rose 2.3% while exports edged up 0.2% in June. As a result, Canada's trade deficit with the world widened from $954 million in May to $1.8 billion in June.

Imports continued their upward trend and reached a record high of $40.9 billion in June. Six out of seven sectors registered gains, the main contributor being the machinery and equipment sector. Volumes (+2.5%) were up in all sectors.

Exports increased to $39.1 billion. Volumes rose 1.1%, while prices decreased 0.9%. A strong gain in exports of automotive products helped offset declines in five out of seven sectors.

Imports from the United States grew 3.0% to a record high of $25.9 billion in June, a third consecutive monthly increase. Exports rose 2.2% to $29.0 billion. This narrowed the trade surplus with the United States from $3.2 billion in May to $3.1 billion in June.

Imports from countries other than the United States increased 1.1% to $15.0 billion. Exports to countries other than the United States fell for the third consecutive month, down 5.2% to $10.1 billion. Consequently, the trade deficit with countries other than the United States widened from $4.2 billion in May to $4.9 billion in June.

Note to readers

Merchandise trade is one component of Canada's international balance of payments (BOP), which also includes trade in services, investment income, current transfers as well as capital and financial flows.

International merchandise trade data by country are available on both a BOP and a customs basis for the United States, Japan and the United Kingdom. Trade data for all other individual countries are available on a customs basis only. BOP data are derived from customs data by making adjustments for factors such as valuation, coverage, timing and residency. These adjustments are made to conform to the concepts and definitions of the Canadian System of National Accounts.

Data in this release are on a BOP basis, seasonally adjusted and in current dollars. Constant dollars are calculated using the Laspeyres volume formula.

For more information on seasonal adjustment, see Seasonal adjustment and identifying economic trends.

New aggregation structure

Statistics Canada will introduce the North American Product Classification System (NAPCS) for merchandise import and export statistics. The new structure will replace the classification structures known as the summary import groups (SIG) and the summary export groups (SEG) and the higher level aggregations (major groups, subsectors, sectors and sections) that have been in use for several decades.

Revised data based on NAPCS for the reference period of January 1988 to August 2012 will be disseminated on October 18.

The first regular release of data based on NAPCS will be on November 8 for the September reference month.

Readers interested in this upcoming change can find more detailed information on our web page dedicated to classification consultation and notification.