(Ottawa) Last September, Canada’s merchandise exports increased 2.7% and imports increased 1%, meaning Canada’s merchandise trade surplus with the world widened from 949 million in August to 2 billion in September.
Statistics Canada says that in September, increases were observed in 7 of 11 product sections, with energy products driving the majority of the increase with a 10.6% surge. The federal agency specifies, however, that the contribution of prices to the monthly variation in exports was notable, as exports increased by 0.4% in real terms.
Exports of agricultural and fishery products and food intermediate products increased by 8.1% in September. Increases in wheat exports were particularly strong, at 56.1%.
Meanwhile, imports of motor vehicles and motor vehicle parts increased 5.8% in September, contributing to Canada’s overall import growth. Imports of industrial machinery, equipment and parts, which increased 7.1% in August, fell 3.6%, partly offsetting the overall increase.
Statistics Canada reports that in September, exports to the United States, Canada’s main trading partner, increased by 2.6% while imports from that country increased by 1.7%. As a result, Canada’s trade surplus with the United States widened for a third consecutive month, from $11 billion in August to $11.7 billion in September.
As for exports to countries other than the United States, they increased by 2.9% in September, while imports decreased slightly, by 0.2%. Canada’s trade deficit with countries other than the United States therefore decreased, from 10.1 billion in August to 9.6 billion in September.