In May, Canada's merchandise imports rose 3.0%, while exports decreased 3.8%. With imports and exports posting strong variations in opposite directions, Canada's merchandise trade balance went from a $894 million surplus in April to a $3.4 billion deficit in May, the largest deficit since October 2020. In proportion of total trade, comparable changes in the trade balance have been observed in the past. Total exports fell 3.8% in May, with 7 of the 11 product sections posting decreases. Exports of energy products and farm, fishing and intermediate food products were responsible for more than two-thirds of the retreat. ... (full story)