Canada's trade surplus narrowed sharply in July due to a decline in gold and energy exports, which led to its share of exports to the US falling to its lowest level since 1997. According to data released by Statistics Canada on Thursday, Canada's exports to the US fell 6.6% in July, the biggest monthly decline since April 2025. The overall share of Canadian exports to the US fell to 66.3%.

Canada's trade surplus narrowed sharply in July due to a decline in gold and energy exports, which led to its share of exports to the US falling to its lowest level since 1997. According to data released by Statistics Canada on Thursday, Canada's exports to the US fell 6.6% in July, the biggest monthly decline since April 2025. The overall share of Canadian exports to the US fell to 66.3%.