Statistics Canada says the country's merchandise trade surplus increased to $1.4 billion in February as exports of gold hit an all-time high. A truck carries a cargo container at the Port of Vancouver in Vancouver, on Friday, October 14, 2022.THE CANADIAN PRESS/Darryl Dyck
OTTAWA – Statistics Canada says the country’s merchandise trade surplus increased to $1.4 billion in February as exports of gold hit an all-time high.
The agency says the result compared with a revised surplus of $608 million in January.
Total exports in February rose 5.8 per cent to $66.6 billion, boosted by an increase in exports of unwrought gold.
Exports of metal and non-metallic mineral products surged 31.1 per cent in the month to a record $9.4 billion powered by increased high-value shipments of refined gold as well as transfers of gold assets in the banking sector.
Meanwhile, total imports rose 4.6 per cent to $65.2 billion in February, helped by a 9.7 per cent increase in imports of electronic and electrical equipment and parts to a record $7.6 billion.
In volume terms, total exports rose 6.2 per cent in February, while total imports rose 4.1 per cent.
This report by The Canadian Press was first published April 4, 2024.