POST Online Media Lite Edition



 

Canada saw trade surplus of 582 million USD in May

Christian Fernsby |
Canada saw a trade surplus of 762 million Canadian dollars (about 582 million U.S. dollars) in May, the second surplus since December 2016, according to Statistics Canada.

Article continues below




The unexpected surplus came after a trade deficit of 1.1 billion Canadian dollars in April.

Statistics Canada attributed the May surplus to increasing exports of motor vehicles, aircraft and energy products.

Total exports rose 4.6 percent to a record 53.1 billion Canadian dollars in May, with nine of 11 product sections posting increases. Exports of motor vehicles and parts, aircraft and other transportation equipment and parts, and energy products contributed the most to the increase. Year over year, total exports were up 8.6 percent. In May, non-energy exports rose 4.5 percent.

Total imports rose one percent to 52.3 billion Canadian dollars in May, with six of 11 product sections posting increases. Higher imports of aircraft, as well as motor vehicle engines and motor vehicle parts, contributed the most to the overall increase. Year over year, total imports were up 1.1 percent.


What to read next

Argentina: Robust trade surplus recorded, consumer confidence at over one-year high
Argentina: Trade surplus widens notably in March
Trade surplus falls in Indonesia in November