Merchandise Trade Balance Climbs to a Surplus Position In May

Jul 03 15:07 2019 Print This Article

MERCHANDISE TRADE BALANCE CLIMBS TO A SURPLUS POSITION IN MAY 

 Ottawa, July 3, 2019—The Conference Board of Canada’s Senior Economist Doris Chu offers the following insights on the merchandise trade data for May: 

“Canada’s merchandise trade sector turned in another positive performance in May as both export and imports recorded increases. Although the May numbers were encouraging, rising uncertainty concerning greater protectionism and a host of other challenges are expected to limit its growth prospects over the course of the year. Consequently, Canada’s trade sector is not expected to contribute to economic growth in 2019.”  

Key Findings from insights:

For the third consecutive month, Canada’s merchandise exports recorded another increase, rising by 4.6 per cent in May. The monthly gain was widespread, driven in large part by higher exports of motor vehicle and parts. Following shutdowns in April, Canadian motor vehicle production bounced back sharply in May. Higher exports of aircraft and mineral fuel products were also big contributors to the monthly increase.  

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Conference Board of Canada

The Conference Board builds leadership capacity for a better Canada by creating and sharing insights on economic trends, public policy and organizational performance. The foremost independent, evidence-based, not-for-profit applied research organization in Canada.The Conference Board is funded exclusively through the fees we charge for services to the private and public sectors. They are leading experts in: conducting, publishing, and disseminating research and forecasting, economic analysis and specialists in economic trends, as well as organizational performance and public policy issues. Conference Board is not a government department or agency, although are frequently hired by government services.

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