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Canadian Trade Recovers to Within 5% of Pre-Pandemic Levels

  • Combined exports and imports are up 35% since April lows
  • Services remain fragile amid ongoing pandemic concern
Canadian Minister Of Environment Catherine McKenna Tour Of Magna International Inc. Polycon Industries Manufacturing Facility
Photographer: Cole Burston/Bloomberg
Updated on

Canadian trade with the rest of the world continued its recovery to more normal levels as the global economy rebounded from Covid-19 lockdowns.

Merchandise exports rose 11.1% in July, adding to a 20.5% gain in June, Statistics Canada said Thursday in Ottawa. Imports increased 12.7% in July, after gaining 20.3% in June. Combined, exports and imports have increased 35% since falling to a decade-low in April, leaving them 5% shy of pre-pandemic levels.