Canada's Trade Surplus Widens in December


Canada's merchandise exports rose 4.5% and imports edged up 0.8%. As a result, Canada's trade surplus rose from $1.2 billion in November to $2.7 billion in December.

Exports grew to $42.0 billion in December as volumes increased 4.9%. The value of exports increased in all sectors, led by machinery and equipment. Exports have been trending upwards since July 2011.

Imports increased to $39.3 billion as volumes rose 1.2%. The increase in the value of imports was mainly a result of industrial goods and materials as well as automotive products.

Exports to the United States rose 5.3% to $30.2 billion on higher exports of crude petroleum, aircraft and precious metals. Imports increased 2.8% to $24.7 billion. Both exports and imports posted their highest levels since October 2008. Canada's trade surplus with the United States grew from $4.7 billion in November to $5.5 billion in December.

Exports to countries other than the United States increased 2.5% to a record high of $11.8 billion. Imports from countries other than the United States declined 2.6% to $14.7 billion, a result of lower imports from the European Union. Consequently, Canada's trade deficit with countries other than the United States narrowed from $3.5 billion in November to $2.9 billion in December, the smallest deficit since December 2010.


TradingEconomics.com, Statistics Canada
2/11/2012 11:20:37 AM