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MNI DATA BRIEF:Canada Jul Imports, Exports at Records on Autos


Canada's imports and exports set record highs in July as automakers canceled some traditional summer shutdowns to produce what they could amid a global chip shortage.

Imports rose 4.2% to CAD53 billion with vehicles and parts accounting for two-thirds of the increase, and exports similarly rose 0.6% to CAD53.7 billion, Statistics Canada said Thursday. The trade balance narrowed to CAD778 million in July, while June's surplus remained the strongest since 2008 at CAD2.6 billion, even after being marked down from the first estimate of CAD3.2 billion. Economists predicted a CAD2 billion July trade surplus.

The agency also said July building permits fell 3.9% in July.

MNI Ottawa Bureau | +1 613-314-9647 |
MNI Ottawa Bureau | +1 613-314-9647 |

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