Canada trade surplus widens on record energy exports

OTTAWA, Aug 04 (Reuters): Canada's trade surplus with the world widened to C$5.05 billion ($3.94 billion) in June as exports of energy products reached a record high but analysts said it would narrow in months to come thanks to lower crude prices.
Statistics Canada said on Thursday that exports rose 2.0 per cent in June, driven mainly by energy but also gold, while petroleum and motor gas pushed imports 1.7 per cent higher.
Analysts had forecast a June surplus of C$4.80 billion. Statscan revised May's surplus down to C$4.77 billion from an initial C$5.32 billion.
Energy exports rose 3.2 per cent to reach an all-time high of C$21 billion and made up just under a third of all exports in June. That also helped exports climb for a sixth consecutive month, for the first time in nine years.
Analysts, though, said June most likely marked a high point.
"The decline in oil prices seen recently will of course weigh on nominal exports during July," said Andrew Grantham.