Statistics Canada says country posts $718M merchandise trade surplus for August
Total imports increased 3.8 per cent in August to $63.8 billion.
Statistics Canada says the country’s merchandise trade balance shifted to a surplus in August, helped by strong growth in exports of unwrought gold and crude oil.
The agency says Canada posted a trade surplus of $718 million in August compared with a revised deficit of $437 million in July.
The change came as total exports rose 5.7 per cent to $64.6 billion.
Exports of metal and non-metallic mineral products rose 29.1 per cent in August to a record $8.5 billion, boosted by exports of gold to the United States. Meanwhile, higher prices helped lift energy product exports 14.6 per cent to $14.5 billion.
Total imports increased 3.8 per cent in August to $63.8 billion as imports of industrial machinery, equipment and parts rose 7.5 per cent to $7.8 billion in the month.
In real or volume terms, exports rose three per cent in August compared with July, while imports in real terms gained 1.2 per cent.
