Davis Index: Market Intelligence for the Global Metals and Recycled Materials Markets

Canadian merchandise exports in July increased by 11.1pc to C$45.4bn ($36bn) from a month earlier, while imports rose by 12.7pc to C$47.9bn, according to Statistics Canada.


Motor vehicles and parts drove the increase, the agency added. 


Compared to June, Canada’s exports in July rose by 8.6pc, and imports rose by 11.2pc.


As per the StatCan report, motor vehicle and parts exports rose on a monthly basis by 37pc in July to C$8.2bn. Passenger car exports rose by 42.4pc and motor engines and parts surged by 30.7pc, with US-bound exports comprising the largest share because automakers began ramping up production.


Motor vehicle and parts imports surged by 50.3pc to C$8.1bn, while passenger car and light truck imports surged by 71.9pc in July from June, with the US and Mexico accounting for the lion’s share. Motor vehicle engine imports, mainly from Japan and the US, also rose by 38.7pc in July.


Exports to the US alone increased on a monthly basis by 15.1pc in July, reaching C$33.5bn, while imports from the US jumped by16.2pc to C$30.7bn, according to StatCan, with motor vehicles the most traded good.


Excluding the US, exports to rose by 1.1pc to C$11.9bn, while imports climbed by 6.9pc to C$17.2bn in July from June. 


CA$1 = $0.76


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