Capital Economics analyst Ariana Curtis said Canada's goods trade surplus widened to a four-year high in May, but the increase was entirely price-driven as export volumes were essentially unchanged. She said the only positive was a rise in May import volumes, signalling gradual improvement in domestic demand. Curtis added the trade data is consistent with the preliminary 0.1% MoM GDP estimate for May.

2026-07-07

Capital Economics analyst Ariana Curtis said Canada's goods trade surplus widened to a four-year high in May, but the increase was entirely price-driven as export volumes were essentially unchanged. She said the only positive was a rise in May import volumes, signalling gradual improvement in domestic demand. Curtis added the trade data is consistent with the preliminary 0.1% MoM GDP estimate for May.