Each day TFO Canada publishes a sample of trade news on the Canadian import market along with any new, updated or changed regulations and legislations regarding international trade; countries in which TFO Canada offers services and on the export sectors which it promotes.
Stunning turnaround for Canada抯 trade: $463m deficit to $710m surplus
Statistics Canada says the country’s merchandise trade balance with the world went from a deficit of $463 million in August to a surplus of $710 million in September. Economists had expected a deficit of $100 million, according to Thomson Reuters.
The federal agency says Canada's merchandise imports fell 1.5 per cent in September, while exports rose 1.1 per cent.
It says imports fell to $44.1 billion, as volumes were down 1.0 per cent and prices were down 0.6 per cent. Exports, however, rose to $44.8 billion, as volumes were up 1.6 per cent and prices fell 0.4 per cent.
Imports from the United States rose 0.7 per cent to $29.7 billion in September, while exports were up 0.8 per cent to $33.7 billion, leaving Canada's trade surplus with that country virtually unchanged from August to September at $3.9 billion.
Exports to other countries increased 2.1 per cent to $11.1 billion and imports fell 5.8 per cent to $14.3 billion, shrinking the trade deficit to $3.2 billion in September from $4.3 billion in August.