Canada Exports Jump to Over One-Year High

Canada’s exports rose 8.5% month-on-month to C$72.8 billion in March 2026, the highest level since January 2025. Amid uncertainty over the economic fallout from the Iran conflict, some sectors saw sharp gains. Exports of metal and non-metallic mineral products and energy led the increase. Non-metallic mineral product exports surged 24.0% to a record C$15.3 billion, driven largely by unwrought gold, silver, and platinum group metals. Energy exports rose 15.6% to C$17.1 billion, the highest since September 2022, supported by an 18.9% jump in crude oil exports due to higher prices. Excluding these categories, export growth was more modest, rising 1.1% in March.

Canada's exports rose 6.4% month-over-month to C$66.3 billion in February 2026, the highest level since March 2025, rebounding from a 5.2% decline in January. Increases were recorded in nine of the 11 product sections. Motor vehicles and parts led gains at 24.2%, with passenger cars and light trucks up 40.6% contributing most to the monthly advance. Exports to the US rose 4.4%, largely driven by higher passenger car and light truck shipments. Metal and non-metallic mineral products increased 11.2%, with unwrought gold, silver, and platinum group metals surging 14.2%, fueled by higher gold exports to the UK. Farm, fishing, and intermediate food products rose 10.5% with broad-based gains, while crop products jumped 29.1% on higher barley and soybean shipments to China.

Canada’s exports decreased 4.7% month over month to C$62.48 billion in January, following an increase in December. Despite the headline decline, exports increased in five of the eleven product categories. Metal and non-metallic mineral products fell 8.0%, driven by lower shipments of unwrought gold to the United Kingdom. Aircraft and other transportation equipment and parts exports decreased 16.0%, with aircraft shipments down 22.7% on lower exports to the United States. Partly offsetting these declines, energy exports rose 4.1%, led by natural gas. Exports to the US decreased 3.8%, while shipments to countries other than the US fell 6.5%.