Canada imported $73.6 billion worth of goods in June—a 0.2 per cent increase over May. Statistics Canada said Tuesday that was due to about $3 billion worth of imported computers and parts—a 59 per cent single-month increase in that category driven mainly by purchases of processing units from the U.S. typically used in data centres. (The Logic)

Talking point: That trend was behind a record three per cent increase in imports from the U.S. in June. Meanwhile, Canadian exports south of the border grew by 0.3 per cent—the fifth consecutive monthly increase—narrowing the trade surplus with the U.S. from $11.1 billion in May to $10 billion in June. Canada’s merchandise trade surplus with the rest of the world widened to $3.9 billion in June, with StatCan noting the impact of the weaker loonie. Total exports reached $77.5 billion on increased shipments of gold, which helped offset a 10 per cent monthly decrease in exports of energy products linked to lower crude oil prices.  

Sponsored Content

The real-world economic offshoots of sovereign AI

By Deborah Aarts

Increasing healthcare access across Canada

By Deborah Aarts

What it takes to lead a frontier firm

By Deborah Aarts

Paid promotional content