FX.co ★ Canadian Exports Rise to Record High

Canadian merchandise exports rose 0.9% month over month to a record C$77.1 billion in May 2026, marking the fourth consecutive monthly increase. Exports of metal ores and non-metallic minerals surged 16.1%, led by a 37.0% jump in diamonds and other non-metallic minerals. This reflected higher turnover in sulphur, as the blockade of the Strait of Hormuz drove a sharp rise in sulphur prices. Exports of other metal ores and concentrates more than doubled, buoyed by new gold ore shipments to China. Exports of metal and non-metallic mineral products increased 1.5%, supported by a 50.7% rise in unwrought aluminum and aluminum alloys. There were also solid gains in consumer goods (3.9%), chemicals, plastics and rubber (5.6%), and farm and food products (2.4%). These advances were partly offset by a 2.0% decline in energy exports, driven by a 5.4% drop in crude oil shipments.