Canada Achieves Foreign Trade Gains; U.S. Still Sinking

Canada’s foreign trade picture brightened considerably in June. The nation’s merchandise trade balance recorded its biggest surplus since before the 2008-2009 recession. Furthermore, there have now been four surpluses in the past six months. During the decade prior to this year, Canada’s monthly goods trade balance spent a lot of time below the zero x-axis (Graph 1).  (‘Merchandise’ trade is a fancier way of saying ‘goods’ as opposed to ‘services’ trade.)

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