Statistics Canada reported Tuesday that Canada’s merchandise trade surplus expanded to C$3.86 billion in June from a revised surplus of C$3.70 billion in May, representing the fourth straight month the country ran a trade surplus. The gains in June came as exports edged up 0.4% while imports increased 0.2%.
A notable driver of the export rise was a 16.5% surge in exports of metal and non-metallic mineral products. Within that category, unwrought gold, silver and platinum group metals rose 27.9%. The increase reflected larger shipments of gold to the United Kingdom as well as greater purchases of Canadian-held gold by foreign residents, contributing materially to the monthly export strength.
Total exports reached a record C$77.5 billion in June, marking the fifth consecutive month of increases for export values. That strength in precious metals helped counterbalance weakening energy exports, which declined 10.0% for the month. Crude oil exports fell 11.1% in June, a drop the report attributes primarily to lower prices, while refined petroleum energy product exports declined 16.9%, also largely due to lower prices.
On the import side, June brought a record high of C$73.6 billion. Imports of electronic and electrical equipment increased 11.7%, paced by a 59.0% leap in computers and computer peripherals. The report noted these shipments were mainly processing units sourced from the United States and destined for data centres. Over the first half of 2026, imports of computers and computer peripherals were up 36.7% compared with the same period in 2025.
Trade balances with trading partners shifted as well. Canada’s surplus with the United States narrowed to C$10.0 billion from C$11.1 billion in May. Meanwhile, the trade deficit with countries other than the United States narrowed to C$6.1 billion from C$7.4 billion the prior month.
The June figures show a trade picture shaped by strong precious metals exports and rising technology-related imports, with energy exports pressured by lower prices. These dynamics produced a continued series of monthly surpluses alongside record-high levels for both exports and imports.