Imports fell 6.0% and exports decreased 4.9%, both due mainly to the effect of widespread price decreases, while the Canadian dollar appreciated sharply relative to the American dollar in July.

Total imports fell 6.0% in July to $47.2 billion, following seven consecutive monthly increases, with declines observed in all commodity sections. Prices were largely responsible for this decrease, falling 3.8%. This occurred as the Canadian dollar gained 3.6 cents US relative to the American dollar from June to July.

The decrease in import values was partially attributable to aircraft and other transportation equipment and parts, as well as motor vehicles and parts. Year over year, imports rose 4.0%.

Following a record observed in June, imports of aircraft and other transportation equipment and parts fell 35.2% to $1.6 billion in July. Aircraft imports led this decrease, with a slowdown in imports of airliners in July after two months of strong growth.