Canada's Merchandise Trade Surplus Widens as Expected; Surplus With U.S. Expands to Largest Level Since February 2025

08:48 AM EDT, 06/09/2026 (MT Newswires) -- Canada's merchandise trade surplus with the world widened to $2.7 billion in April from $1.8 billion in March, as exports rose 1.6% month over month, while imports edged up 0.3% month over month, said the country's statistical agency on Tuesday.

This was the second consecutive monthly trade surplus, and the largest since January 2025, wrote Statistics Canada in a statement.

April surplus was roughly in line with a $2.50 billion consensus surplus provided by MUFG.

Exports of energy products rose 9.7% month over month in April. This followed an increase of 23.4% in March. Both monthly increases were driven by higher prices, which continued to rise in April amid the uncertainty caused by the conflict in Iran, added StasCan.

Canada's merchandise trade surplus with the United States widened from $7.8 billion in March to $9.5 billion in April, the largest surplus since February 2025. Exports to the U.S rose 4.8% month over month in April, while imports from the U.S. were up 1.6%.

Canada's trade deficit with countries other than the U.S. widened from $6.0 billion in March to $6.8 billion in April as exports fell 4.8% month over month in April and imports from countries other than the U.S. decreased 1.5%.

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