Statistics
Canada reported on Tuesday that Canada recorded a trade surplus of CAD1.57
billion in November compared to a revised surplus of CAD3.20 billion (from CAD02.97 billion) in October.
This marked the first worsening in Canada’s trade balance in four months.
Economists had foreseen
a surplus of CAD2.00 billion.
According to
the report, Canada’s exports fell by 0.6 per cent m-o-m to CAD65.74 billion in November as 4 of 11
product sections showed declines in exports, mainly driven by products aircraft and other transportation
equipment and parts (-16.8 per cent m-o-m), and metal and non-metallic mineral
products (-6.5 per cent m-o-m). Excluding these two product sections, exports were
up 1.0 per cent m-o-m in November. Meanwhile, imports grew by 1.9 per cent
m-o-m to CAD64.17 billion in November as 8 of the 11 product sections demonstrated increases,
led by energy products (+11.6 per cent m-o-m), metal ores and non-metallic
minerals (+9.3 per cent m-o-m), industrial machinery, equipment and parts (+4.9
per cent m-o-m) and metal and non-metallic mineral products (+4.9 per cent
m-o-m).