Statistics Canada reports $1.9B merchandise trade surplus for January

Ottawa –

Statistics Canada says the nation posted a merchandise commerce surplus of $1.9 billion in January, helped by exports of wheat, canola oil and soybeans.

The company says the end result in contrast with a revised surplus of $1.2 billion for December. The preliminary studying for the ultimate month of 2022 launched final month had confirmed a deficit of $160 million.

Exports in January totalled $67.0 billion, a achieve of 4.2 per cent in contrast with December, as exports of farm, fishing and intermediate meals merchandise rose 11.9 per cent to succeed in a document $5.9 billion.

Exports of motor autos and elements climbed 8.2 per cent increased in January to $8.3 billion, the best degree since May 2019.

Meanwhile, complete imports rose 3.1 per cent to $65.1 billion in January as imports of motor autos and elements gained 11.1 per cent to succeed in a document $11.0 billion.

In quantity phrases, exports gained 5.3 per cent in January, whereas imports rose 4.1 per cent.

This report by The Canadian Press was first printed March 8, 2023.