"It registered a marginal trade surplus of $153 million in September, following a $6.43 billion deficit in the prior month, Statistics Canada said. This was the first ever surplus that Canada has posted since U.S. President Donald Trump threatened and later imposed tariffs on critical sectors, which choked significant exports to the U.S., Canada's biggest trading partner. The bulk of the surplus was driven by a 44 per cent jump in Canada's trade surplus with the U.S., Statistics Canada data showed."
"Analysts polled by Reuters had forecast the trade deficit at $4.5 billion for September. Economists said the trade numbers show that Canada's international merchandise trade was finally starting to normalize. "Overall story is really positive," said Prince Owusu, a senior economist with Export Development Canada. "It seems to suggest that the trade flow with the United States is beginning to stabilize," he said, adding that the trend of diversification from the U.S. that started is also continuing."
Canada posted a $153 million international merchandise trade surplus in September, reversing seven consecutive monthly deficits and following a $6.43 billion deficit in August. The improvement was largely driven by a 44 per cent increase in the trade surplus with the United States. Total exports rose 6.3 per cent to $64.23 billion, led by gains in nine of 11 product sections and strong increases in metal and non-metallic mineral products and aircraft and transportation equipment (each up more than 20 per cent). Export volumes rose 4.1 per cent. The September data release was delayed by missing U.S. export information during a 43-day U.S. government shutdown. A $4.5 billion deficit had been forecast. Trade flows show signs of stabilizing and continued diversification away from the U.S.
Read at www.cbc.ca
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