Canada recorded a merchandise trade surplus of $684 million in July, according to Statistics Canada.

Canada posted a merchandise trade surplus of $684 million in July, according to Statistics Canada, following a revised deficit of $179 million in June. Initially, June’s figures had indicated a surplus of $638 million.

In July, imports dropped by 1.7% to $65.0 billion, with motor vehicles and parts imports plunging 10.8%, including an 18.7% decline in passenger car and light truck imports after reaching a record high in June.

Exports also saw a slight decline, down 0.4% to $65.7 billion, as motor vehicles and parts exports fell by 5.4%.

When adjusted for volume, imports decreased by 2%, while exports dropped by 1.5% in July.