OTTAWA — In July, Canadian exports dropped 0.7 percent while imports grew by 2 percent.

Net result: Canada’s trade deficit with the world widened to $2.7 billion in July from $1.8 billion in June, Stats Canada reports. 

Specifically, exports declined from $33 billion in June to $32.8 billion in July. It was the fourth decrease in six months. Aircraft, engines and parts, (-9.6%) and other industrial machinery led the decrease.

Exports of consumer (-7.3%) and forestry products (-5.3% after 10 straight months of growth) also fell.

Exports to our biggest trading partner, the United States, fell by 2.2 percent, while imports rose by 2.9 percent.

End result: Canada’s trade surplus with the United States narrowed to $1.2 billion in July from $2.4 billion in June.
That stat has been dropping steadily since last December.

Exports have fallen by 2.2 percent in the intervening months while imports have grown significantly, by 14.1 percent.
Energy products accounted for over half the growth in overall imports, followed by automotive products and machinery and equipment.

For a complete report, click here. 

Or else you might just want to look out the window and watch the empty trailers still heading south.