Canadian international
merchandise trade
Canada's trade surplus
with the world expanded to $5.8 billion in June from $5.2 billion in May, as
energy exports to the United States increased.
Canadian companies
exported merchandise worth $43.2 billion in June, up 3.1% from the previous
month, as prices increased 4.5% and volumes declined 1.4%. Overall, export
prices have been on the rise for the past eight months, while volumes have been
trending downward.
Imports
rose 2.0% to $37.4 billion, the third monthly increase in a row and the eighth
in the past 12 months. Prices rose 2.6%, while volumes declined 0.6%. Import
prices have also been on an upward trend for the past eight months while
movements in volume have not shown a clear trend.
Exports
to the United States rose 5.3% to $32.8 billion, primarily due to greater
exports of crude petroleum. Imports also increased, but to a lesser extent,
yielding a trade surplus with the United States of $9.6 billion, up
from $8.1 billion.
The
largest annual increase in gasoline consumption was in 2007, despite the
cumulative impact of years of rising prices. Retail sales of gasoline rose 3.9%
last year, largely reflecting a 1.9% increase in kilometres driven by all
vehicles as well as lower fuel efficiency. A dip in monthly gasoline sales early
in 2008 appears partly to reflect poor driving conditions, due to several snow
storms, and demand in the first five months of the year remained 0.5% ahead of
the same period last year. | 