Back-to-back hikes in Canadian exports reported

OTTAWA — For the first time this year, export volumes made consecutive monthly advances, Stats Canada reports.

July’s 3.3 percent jump in exports (to $30.3 billion) was attributable to a 5.9 percent increase in volumes, thanks mainly to higher machinery and automotive products, as prices declined 2.4 percent.

Higher exports of machinery and equipment and automotive products led the increase in overall exports. Declines in exports of energy products tempered the gain.

Imports, meanwhile, were up 8.3 percent to $31.7 billion, halting four consecutive months of decline.

As a result, Canada registered a trade deficit of $1.4 billion in July compared with a trade surplus of $37 million in June.

Canada’s trade surplus with the United States shrank to $1.9 billion in July from $3.2 billion in June, as the growth in imports outpaced the increase in exports.

Imports from the U.S. specifically, rose 9.9 percent, mainly as a result of higher imports of organic chemicals and aircraft.

Automotive sector exports rose 10.8 percent to $3.2 billion. This value represented about one-third of the peak value registered in January 2000 and remained 39.5% below the July 2008 value, however.

The gain was mainly due to increases in exports of motor vehicle parts. Exports of passenger autos and trucks also went up in July.