Statistics Canada reports $2B merchandise trade surplus for September
By The Canadian Press on November 7, 2023.
OTTAWA – Statistics Canada says the country’s merchandise trade surplus more than doubled in September as higher oil prices helped boost energy exports. The agency says Canada’s trade surplus for the month amounted to $2 billion compared with a revised surplus of $949 million for August. Total exports rose 2.7 per cent to $67.0 billion in September. The increase came as exports of energy products gained 10.6 per cent at $16.9 billion, boosted by a 13.7 per cent increase in crude oil exports that was largely due to higher prices. On the flip side, total imports increased one per cent to $65.0 billion. Imports of motor vehicles and parts rose 5.8 per cent in September to $12.9 billion, while imports of industrial machinery, equipment and parts fell 3.6 per cent to $7.5 billion. In volume terms, exports gained 0.4 per cent and imports rose 1.7 per cent. This report by The Canadian Press was first published Nov. 7, 2023. 8-7
