Canada Reports Trade Surplus in September


Canada's merchandise exports grew 4.2% in September, while imports declined 0.3%. As a result, Canada's trade balance with the world went from a deficit of $487 million in August to a surplus of $1.2 billion in September. It was the first trade surplus since January 2011.

Exports rose to $39.7 billion, the highest value since October 2008, as six of seven sectors posted gains in September. Prices, which rose 3.9%, were the main factor behind the increase. Volumes edged up 0.3%.

Imports decreased to $38.5 billion, as volumes fell 3.1% and prices increased 2.8%. The decline was led by lower imports of machinery and equipment as well as automotive products, as both sectors experienced a decline in volumes. Partly offsetting the decrease in imports were gains in two sectors: energy products, and industrial goods and materials. Prices rose in both sectors.

Exports to the United States increased 5.0% to $28.2 billion, the highest value since January 2011. Imports from the United States decreased 1.0% to $23.8 billion. As a result, Canada's trade surplus with the United States rose from $2.8 billion in August to $4.4 billion in September.

Exports to countries other than the United States rose 2.3% to $11.5 billion, the fifth consecutive monthly increase. Imports from countries other than the United States rose 0.7% to $14.7 billion. Consequently, the trade deficit with countries other than the United States fell from $3.3 billion in August to $3.1 billion in September, the lowest level so far this year.


TradingEconomics.com, Statistics Canada
11/10/2011 1:52:03 PM