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Total merchandise exports fell by 2.8 per cent over the previous month, which Statistics Canada linked Thursday to a 36 per cent drop in the value of precious metals—underscoring the outsized role that fluctuations in the price of gold have played in Canada’s shifting trade figures. (The Logic)
Talking point: The value of exports of unwrought gold, silver, platinum and their alloys rose nearly 40 per cent from January to November 2025 compared to the same period in 2024, which the agency said was mainly due to the soaring price of gold. That has inflated the value of Canada’s exports to non-U.S. markets, while the volume of gold shipped overseas has remained steady. Meanwhile, exports of medium- and heavy-duty trucks and buses fell by nearly 54 per cent in November—the lowest level since March 2022. U.S. President Donald Trump’s national security tariffs on those vehicles took effect Nov. 1.
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