Back to today’s briefing

Story perspectives

Canada's Trade Deficit Shrinks Amid Record Gold Exports

7/6/2025

32 7

Summary

Story summary

Canada's trade deficit shrank to $5.9 billion in May, thanks to a remarkable 30.1% increase in gold exports. Yet, exports to the U.S. continued to decline for the fourth month in a row, hitting a low of 68.3% of total exports—the weakest since 1997. Meanwhile, Canada is successfully diversifying its trade with record exports to other nations.

1 of 1

Story summary

Canada's trade deficit shrank to $5.9 billion in May, thanks to a remarkable 30.1% increase in gold exports. Yet, exports to the U.S. continued to decline for the fourth month in a row, hitting a low of 68.3% of total exports—the weakest since 1997. Meanwhile, Canada is successfully diversifying its trade with record exports to other nations.