• Prior was +4.24B (revised to +3.70B)
• Exports $77.49 vs $77.10B prior  (revised to $77.19)
• Imports $73.63B vs $72.86B prior (revised to $73.49B)
• Exports +0.4% m/m
• Imports +0.2% m/m

Canada has been benefiting from the jump in commodity prices this year with strong surpluses since March. Those have helped to lift GDP, including a strong number last week. The Canadian dollar as trading at 1.4059 ahead of the data and not moved in the immediate aftermath.

The headline today is a good one but it’s mitigated by the large downward revision for the prior. The good news for the economy is that imports are rising and that’s a good forward indicator. That said, some of the numbers have been skewed by the weakening Canadian dollar, as many contracts are priced (and delivered) in USD.

Details: 

• Exports up for 5th consecutive month
• June exports up in 6 of 11 categories
• Exports of metal and non-metallic mineral products increased 16.5% in June
• Exports of motor vehicles and parts rose 2.4% in June
• 10.0% decrease in exports of energy products due to lower oil prices
• Imports from the United States rose 3.0% to a record high driven by coimputers and peripherals
• Trade surplus with the United States narrowed from $11.1 billion in May to $10.0 billion in June

This article was written by Adam Button at investinglive.com.