PrintRBC Previews This Week's Canada International Merchandise Trade Data
BY MT Newswires | ECONOMIC | 09/02/25 10:43 AM EDT10:43 AM EDT, 09/02/2025 (MT Newswires) -- Canada will publish its international merchandise trade figure for July on Thursday, at 8:30 a.m. ET, noted RBC.
The Canadian trade deficit likely narrowed in July from elevated levels in Q2, including a record large deficit in April as United States imports plunged after a surge to build inventories ahead of tariffs in Q1, said the bank. The trade deficit is expected to narrow to $2.9 billion from $5.9 billion in June.
Oil prices remained largely unchanged in July, after surging 10% in June. This stability is expected to have kept the energy trade balance steady during the month, stated RBC.
A reported $2 billion import of a single large piece of machinery for Canada's offshore oil production sector in June is considered a one-off event, and imports are likely to decline as that effect unwinds, added the bank.
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