Trade surplus grew to $5.3 billion in May, largest since August 2008: StatCan
Exports of metal ores and non-metallic minerals climbed 17.2 per cent led by exports of potash which soared 34.9 per cent, partly because of a large gain in exports to Brazil.Imports of consumer goods fell 4.7 per cent in the month, while aircraft and other transportation equipment and parts fell 22.7 per cent compared with April.
Export volumes for May increased 1.7 per cent, while import volumes fell 1.4 per cent compared with April.Regionally, Canada’s trade surplus with the United States rose to a record high at $14 billion in May compared with $12.9 billion in April as exports to the country’s largest trading partner rose 2.4 per cent and imports gained 0.3 per cent.
Canada’s merchandise trade deficit with countries other than the United States was $8.6 billion, down from $10.7 billion in April. In a separate report, Statistics Canada said the country’s trade in services deficit was $1.1 billion in May compared with $1.3 billion in April. Overall, exports of services rose 1.7 per cent to $12.4 billion, while imports of services gained 0.5 per cent at $13.5 billion.
Statistics Canada said when trade in goods and services are combined Canada’s trade surplus with the world was $4.2 billion in May compared with $900 million in April.
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