Statistics Canada's August data, released October 6, showed Canadian merchandise exports rising 2.5% from the previous month to C$77.9 billion, while imports fell 2.0% to C$73.7 billion. The country's merchandise trade surplus with the world consequently widened from C$787 million in July to C$4.2 billion in August, the sixth consecutive monthly surplus. July figures were also revised lower in the new release: exports moved from C$76.1 billion to C$76.0 billion, and imports from C$75.4 billion to C$75.2 billion. Those revisions are a reminder that first-published monthly figures are not necessarily final.

Export gains were spread across product groups: eight of the 11 broad sections increased, and energy-product exports rose 4.7%, their first monthly gain since April. Refined petroleum exports advanced 17.4%, which the agency linked to higher diesel shipments to Peru, the United Kingdom, the United States and the Netherlands. Crude-oil exports increased 2.1%, a move attributed to higher prices. Exports of nuclear fuel and other energy products rose 58.4%, supported by larger shipments to Germany and the United Kingdom. Excluding energy, exports were up 1.8%; total export volumes grew 2.5%.

Exports of electronic and electrical equipment and parts rose 11%. Electrical components recorded the largest increase among product groups, at 24.3%. Statistics Canada said some products subject to U.S. tariffs that took effect in August contributed significantly to the increase; some of those tariffs were removed in September. Exports of industrial machinery, equipment and parts increased 10.1%, reaching their highest level since January 2025. Exports of heating, cooling and air-purification equipment rose 26.5%. These percentages describe monthly changes in aggregate export values for product groups; they do not measure an individual producer's sales or production capacity.

Imports declined for the first time in seven months. Imports of motor vehicles and parts fell 8.8%, the largest downward contribution among import sections; seasonally adjusted imports of passenger cars and light trucks were down 15.4%. Imports excluding that section fell 0.5%. Imports of metal ores and non-metallic minerals dropped 15.5% to their lowest level since November 2025. Statistics Canada noted that some movements may reflect an unusually high July base and the timing of shipments ahead of trade-policy uncertainty. A single month therefore cannot establish a lasting trend.

The Canadian dollar appreciated by 1.1 U.S. cents on average in August compared with July. The agency notes that many import and export transactions are conducted in U.S. dollars, so monthly trade values expressed in Canadian dollars can be affected by exchange-rate conversion. In U.S.-dollar terms, exports rose 4.0% and imports fell 0.6%. That difference illustrates why changes in current-dollar values should not be attributed solely to physical quantities. Volume measures offer a useful complement: total merchandise export volume increased 2.5%, while import volume declined 1.1%. Prices, quantities and currency conversion can move together, so no single measure describes every aspect of trade performance.

Exports to the United States rose 8.1% as imports from that market fell 2.5%, taking the bilateral merchandise surplus to C$11.2 billion. Exports to countries other than the United States, by contrast, fell 8.5% after a 8.2% July increase; their share of Canadian exports declined from 33.9% to 30.2%. Services trade showed a different pattern: service exports rose 0.7% to C$21.1 billion and imports fell 0.4% to C$20.7 billion. Combined goods-and-services exports increased 2.1% to C$99.1 billion, while imports declined 1.7% to C$94.4 billion, leaving a total surplus of C$4.6 billion. These broader measures cover flows beyond merchandise but remain distinct statistical concepts.

The August release pairs strong energy and electrical-equipment shipments with a decline in vehicle imports, showing how Canada's trade performance differed across products and markets. The reported values are seasonally adjusted balance-of-payments figures; customs-based product tables can use different coverage and classifications. The agency also flagged uncertainty around the impact of U.S. tariffs and the possibility that shipments were brought forward. One monthly surplus does not guarantee future trade balances or economic growth. Statistics Canada scheduled its September merchandise-trade release for November 4, and later revisions could also change the August comparison.