Canada: Trade balance in surplus for the first time since Dec. 2016 at $526 million

"In August, Canada's merchandise trade balance with the world was in a surplus position for the first time since December 2016. The $526 million surplus followed a $189 million deficit in July," Statistics Canada announced today.

Key takeaways from the press release

• Both imports and exports declined in August. Imports fell 2.5%, mainly on lower imports from non-US countries, while exports were down 1.1%, mostly on decreased exports of passenger cars and light trucks.
• Imports from countries other than the United States fell 4.5% to $17.6 billion in August.
• In real (or volume) terms, imports declined 1.5% and exports fell 0.7%.
• Aluminum exports subject to a 10% customs tariff fell 13.2% in August.
• Imports of steel products from the United States subject to a 25% tariff fell 12.8% in August.