StatCan reports $5.4 billion merchandise trade surplus for September

Statistics Canada reports that the country's merchandise trade surplus increased to $5.4 billion in September. This figure represents an increase from a trade surplus of $5 billion recorded in August.

Export Trends

According to Statistics Canada, total exports edged up 0.2 per cent in September to reach $78.6 billion. This growth was driven by specific sectors, including exports of crude oil and gold.

Detailed breakdowns of export categories include:

• Energy products: rose 8.2 per cent in September, which was helped by higher oil prices.
• Metal and non-metallic mineral products: increased 8.6 per cent, a category that includes unwrought gold.

In terms of volume, total exports fell four per cent during the month.

Import Trends

Total imports decreased during the month, falling 0.3 per cent in September to $73.2 billion. This decline was partially attributed to a drop in specific goods.

Key details regarding imports include:

• Motor vehicles and parts: imports of these items fell 9.1 per cent in the month.
• Import volume: in volume terms, imports fell 2.5 per cent.

Why it matters

The shift in the merchandise trade surplus from $5 billion in August to $5.4 billion in September reflects the changing balance between what the country exports and what it imports. While the total value of exports saw a slight increase, the volume of those exports actually fell by four per cent. Conversely, while the total value of imports decreased by 0.3 per cent, the volume of imports fell by 2.5 per cent.

---

Sources

• ca.finance.yahoo.com: StatCan reports $5.4B merchandise trade surplus for September
• thestar.com: StatCan reports $5.4B merchandise trade surplus for September

This article was drafted with AI assistance and checked against the sources above. Company claims are reported as claims. Cover image is AI-generated.