Canadian Exports Rise to Record High

Canadian goods exports rose 0.4% month-over-month to a record CAD 77.5 billion in June 2026, marking a fifth consecutive monthly increase. Exports of metal and non-metallic mineral products jumped 16.5%, driven by a 27.9% surge in shipments of unwrought gold, silver, platinum group metals and their alloys, reflecting higher gold exports to the UK and stronger foreign demand. Exports of metal ores and non-metallic minerals also increased 7.3%, led by copper ores and concentrates (20%) and sulphur shipments. Meanwhile, exports of motor vehicles and parts rose 2.4% as higher domestic production lifted passenger car and light truck exports to their highest level since March 2025. These gains were largely offset by a 10% decline in energy product exports. Following a 4.6% increase in the first quarter, total exports advanced 13.1% in Q2, the strongest quarterly growth since the third quarter of 2020.

Canadian goods exports rose 0.9% month-over-month to a record C$77.1 billion in May 2026, marking a fourth consecutive monthly increase. Exports of metal ores and non-metallic minerals surged 16.1%. This was led by a 37.0% jump in diamonds and other non-metallic minerals amid an increase in the turnover for sulphur, as the blockade of the Strait of Hormuz triggered a surge in its prices. Exports of other metal ores and concentrates more than doubled on new gold ore shipments to China. Exports of metal and non-metallic mineral products rose 1.5%, supported by a 50.7% increase in unwrought aluminum and aluminum alloys. Consumer goods (3.9%), chemicals, plastics and rubber (5.6%), and farm and food products (2.4%) also posted solid gains. The increase was partly offset by a 2.0% decline in energy exports, driven by a 5.4% drop in crude oil shipments.

Exports of Canadian goods surged by 1.6% from the previous month to C$75.2 billion in April of 2026, the highest on record. The increase was owed to a fresh jump in energy exports (9.7% to C$19.9 billion), as the war in the Middle East continued to prevent energy trade from the region and lifted prices for Canadian oil and natural gas, triggering a surge in their turnover. Exports also increased for farm, fishing, and intermediate food products (8.9% to C$5.3 billion) and aircraft and transportation equipment (13.8% to C$3.1 billion). Meanwhile, exports slumped for metal and non-metallic mineral products (-17.5% to $12.5 billion) despite remaining at historically elevated levels, as the surge in exports of gold, silver, and platinum to the UK in the previous months were unwound. Exports to the US rose for a third month, contributing to their largest surplus in 14 months, despite tariffs by the US President.