As imports of computers and electronics offset the impact of a surge in gold exports to non-US countries, Canada's merchandise trade balance has once again turned into a deficit. The trade deficit reached 583 million Canadian dollars in October, according to data released by Statistics Canada on Thursday. The Bureau of Statistics said that due to the country's record imports of computers and components, total imports increased by 3.4%. Smartphones, precious metals, and industrial machinery and equipment have also boosted imports. Total exports increased by 2.1%, mainly driven by gold exports, particularly shipments to the UK. Unprocessed gold, silver, and platinum exports surged 47.4% in October. Energy exports, on the other hand, fell by 8.4%. Judging from the year-to-date data, export volume in the first 10 months of 2025 increased by only 0.8% over the same period last year, reflecting the extent to which the ongoing trade war suppressed economic activity.

As imports of computers and electronics offset the impact of a surge in gold exports to non-US countries, Canada's merchandise trade balance has once again turned into a deficit. The trade deficit reached 583 million Canadian dollars in October, according to data released by Statistics Canada on Thursday. The Bureau of Statistics said that due to the country's record imports of computers and components, total imports increased by 3.4%. Smartphones, precious metals, and industrial machinery and equipment have also boosted imports. Total exports increased by 2.1%, mainly driven by gold exports, particularly shipments to the UK. Unprocessed gold, silver, and platinum exports surged 47.4% in October. Energy exports, on the other hand, fell by 8.4%. Judging from the year-to-date data, export volume in the first 10 months of 2025 increased by only 0.8% over the same period last year, reflecting the extent to which the ongoing trade war suppressed economic activity.