Canada posted a $3.9 billion trade surplus in June, its widest in four years
“Overall, I think that we should do quite well for the second half of the year,” he told Reuters by phone, flagging potential gains in gold and auto shipments.
Over the second quarter as a whole, exports rose 13.1 percent, the strongest quarterly gain since the third quarter of 2020, while imports advanced 4.2 percent.
The trade rebound tracks the view from the Bank of Canada, which held its policy rate at 2.25 percent on July 15 for a sixth consecutive decision.
Export growth has resumed and is expected to keep strengthening, albeit on a lower path, the central bank said, estimating second-quarter GDP growth at about 2.5 percent.
The bank also tied the loonie’s slide partly to rising US bond yields while Canadian yields held little changed.
