Statistics Canada Reports Merchandise Trade Surplus $1.6 Billion in November

In November, Statistics Canada reports merchandise trade surplus of $1.6 billion

January 9, 2024 TruthUSA

Statistics Canada says the country’s merchandise trade surplus narrowed to $1.6 billion in November as imports rose and exports fell.

The result compared with a revised surplus of $3.2 billion in October. The initial reading for October released last month had been for a surplus of $3.0 billion.

For November, total imports rose 1.9 percent, helped by an 11.6 percent increase in imports of energy products, boosted by imports of uranium from Kazakhstan.

Imports of refined petroleum energy products also rose 18.8 percent, on higher imports of gasoline and aviation fuel from the United States

Meanwhile, total exports fell 0.6 percent in November as exports of metal and non-metallic mineral products dropped 6.5 percent, mainly on lower exports of unwrought gold, silver, and platinum group metals. Exports of aircraft and other transportation equipment and parts fell 16.8 percent.

In volume terms, total imports in November were up 1.6 percent, while exports were down 0.1 percent.