Canadian exports, imports dip in June

OTTAWA — Both imports and exports slipped slightly in June, including shipments to the U.S., reports Stats Canada.

Even though volumes have grown for six straight months, merchandise exports fell 2.5 percent (down to 34.4 billion), led by industrial goods and materials, which accounted for two thirds of the June pullback.

Precious metal exports in particular fell 24 percent, declining for a third consecutive month after reaching a record high in March.

After a solid gain in May imports dropped 1.2 percent, to $34.6 billion, as a result of a significant decline in energy products.

Exports to the U.S. fell by 1 percent reflecting the weakness in exports of energy products, while imports rose modestly by just under a percent. 

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