Exports of metal and non-metallic mineral products surged 31.1 per cent in the month to a record $9.4 billion powered by increased high-value shipments of refined gold as well as transfers of gold assets in the banking sector
Canada ’s merchandise trade surplus increased to $1.4 billion in February as exports of gold hit an all-time high, Statistics Canada said Thursday.Total exports in February rose 5.8 per cent to $66.6 billion, boosted by an increase in exports of unwrought gold.
Statistics Canada said that excluding the product group for unwrought gold, exports were up 2.8 per cent for the month. Statistics Canada said last week that its preliminary estimate for February pointed to real GDP growth of 0.4 per cent for the month, helped by strength in the mining, quarrying, and oil and gas extraction, manufacturing, and finance and insurance sectors.
The overall trade results came as Canadian exports to the United States rose 3.3 per cent in February and imports from Canada’s largest trading partner increased 3.4 per cent, resulting in a trade surplus with the U.S. of $9.1 billion in February compared with $8.8 billion in January.
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