Canada posted a trade surplus of C$4.2 billion in August 2026, up sharply from an upwardly revised C$0.79 billion in July. This was the largest surplus since May 2022 and the second-largest since August 2008, achieved despite an appreciation of the Canadian dollar against the US dollar.
Exports rose 2.5% from the previous month to C$77.9 billion. Higher energy prices linked to the war in the Middle East pushed energy product exports up 4.7%. Exports of consumer goods increased 6.6%, while exports of industrial machinery and equipment jumped 10.1%. Exports to the United States climbed 8.1%, as US buyers likely accelerated purchases of Canadian goods ahead of a series of tariffs that came into force later in the month.
Meanwhile, imports declined 2.0% to C$73.7 billion. Purchases of motor vehicles and parts fell 8.8%, and imports of metal and non-metallic mineral products dropped 7.0%, largely reflecting a 40.0% plunge in unwrought gold, silver, and platinum group metals.
