Exports rose 4.1 per cent to a record $50.7 billion, with energy shipments rising 7.1 per cent to their highest since 2014 and aircraft sales jumping by nearly 45 per cent.
Even after the USA imposed tariffs on steel and aluminum, Canada's trade gap narrowed to $626 million in June, down from $2.7 billion a month earlier, Statistics Canada said Friday in Ottawa.
The June deficit of C$626 million ($482 million) - the lowest since the C$485 shortfall recorded in January 2017 - was far smaller than the C$2.30 billion predicted by analysts in a Reuters poll. "We expect the trade deficit to continue to widen, as a fiscal stimulus-led boost to demand leads to higher imports".
Trump has said trade wars are "easy to win" and made the soaring US-China goods deficit a principal issue in his nationalist economic agenda.
The country saw a 4.1 percent increase in exports compared with May, reaching 50.7 billion Canadian dollars (roughly 39 billion US dollars), due to spiked exports of energy products and aircraft. Last month, the Trump administration began following through with a March threat of tariffs on tens of billions of dollars of imported Chinese goods, prompting China to respond with retaliatory levies on high-value USA exports such as soybeans. The Bank of Canada is counting on trade and investment to contribute more to an economic expansion as it raises interest rates, while saying protectionism remains the biggest risk.
The report also said the value of imports climbed by 0.6 percent to $260.2 billion in July after rising by 0.5 percent to $258.5 billion in June. "As a result, trade is likely to subtract from GDP growth in the coming quarters, reversing the significant positive contribution recorded in Q2".
Buzarnescu, Sakkari rally for spots in Silicon Valley final
She won four straight games in the second set to put pressure on Collins, and ultimately evened the match with a forehand victor . Mertens, bidding for her fourth title of the year, moves into a semi-final against fifth seeded Romanian Mihaela Buzarnescu.
Crude oil exports were mainly responsible for the gain, up 6.6 per cent to $7.2 billion on the strength of prices, but refined petroleum products also rose, by 19.2 per cent, on sales of heavy fuel oils and diesel fuel. "In real terms, exports rose 2.2% while imports fell 1.2% in June".
Exports to the United States were up 2.5 per cent month over month, lifting Canada's merchandise trade surplus with its neighbour to $4.1-billion from $3.3 billion.
But exports to non-U.S. markets fared even better, surging 8.7 per cent in the month.
"Today's report is the latest in a string of upside surprises that include May's GDP data and June inflation numbers", RBC senior economist Josh Nye wrote in a note to clients.
Canada imported products worth $51.3 billion in June, despite increases in seven of 11 product sections.
Imports of energy products decreased 15.1 per cent to $2.9 billion in June compared with May, as Canadian refineries came back on stream following spring maintenance shutdowns.
Thus far, we haven't seen the mode in action, but a trailer for the upcoming beta test offered us our first taste. The Call of Duty Black Ops 4 beta starts from August 3 at 10am PT (10:30pm IST) for PS4.
The data for July indicated towards the most solid rise in total new orders throughout the construction sector since May 2017. House building was the strongest category in the July release with the sub index now at its highest since December 2015.
Think of it! Two different consoles from Nintendo top of the sales chart in the same year! - Let us know in the comments! It also (hopefully) suggests that a Nintendo 64 Classic, Gamecube Classic, and Game Boy Classic will happen eventually.
Under the current forecast track, Hector is expected to pass south of the Big Island of Hawaii late Wednesday or Wednesday night. The United States Geological Survey said Saturday that the volcano is still sending large amounts of lava into the sea.
And John Bolton, the president's national security adviser, is a well-known Iran hawk who has advocated for regime change. Such qualifications no doubt contribute to the wariness of Iranian officials regarding the possibility of negotiations.
Friday began with testimony from Ayliff, who handled Manafort's tax preparations before retiring and turning them over to Laporta. She also sent letters to banks noting that Manafort anticipated a $2.4 million payment by November 2016 for work in Ukraine.
The device will run a forked version of the Android operating system, Mocor 5, it is backed by a 1,480mAh battery . Connectivity options on this phone include 4G VoLTE, Wi-Fi, Wi-Fi Hotspot, Bluetooth v4.2, GPS, and USB Type-C.
Starting with BlackBerry Evolve , the initial testing revealed that the cameras do not look that promising. Like the Evolve the BlackBerry Evolve offers a stunning design and delivers the performance to match.
Barry wasn't well towards the end of filming new Channel 5 series titled Chuckle Time this year. In 2014 the words were even turned into a song performed alongside Tinchy Stryder .
Head of Syria research centre killed in auto bombing
An Israeli government official declined to comment on reports of Asber's death when asked by the Reuters news agency. The research centre that Asber led in the western city of Masyaf has previously been targeted by air strikes.
Trump condemns media as 'fake disgusting news' at rally
Although Mr Barletta's bid was an undercard to Mr Trump's main event, the president did bless the congressman's bid. After dubbing the Democratic senator "Sleepin' Bob", he turned his ire towards Casey's views on immigration.
WhatsApp launches Business APIs, to charge customers
It spends heavily to improve privacy safeguards as well as to tackles concerns about the social media addiction. The companies can now use the API to send the customized notifications with relevant events to the customers.
Russian spy detected working at US Embassy in Moscow
As a result, the duties are limited to translation, interpretation, cultural guidance, liaison and administrative support. File photo of the Russian Federal Security Services headquarters in Moscow, taken on March 30, 2010.
Oil prices decline amid rising U.S. inventories
US President Donald Trump's decision to pull out of an worldwide nuclear deal and reimpose sanctions on Iran has angered Tehran. West Texas Intermediate ( WTI) crude futures were at $68.87 per barrel at 0647 GMT, down 9 cents from their last settlement.
New Ebola outbreak kills 20 in Congo
This should allow health officials to again use what has become the greatest weapon against Ebola epidemics to date. The province shares borders with Rwanda and Uganda, with a lot of cross border movement due to brisk trade.