You are here: Home > Steel News > Latest Steel News > Canada’s...

Canada’s trade surplus widens to $2.0 billion in September

Tuesday, 07 November 2023 23:45:16 (GMT+3)   |   San Diego

According to Statistics Canada, in September, Canada's merchandise exports increased 2.7 percent, while imports rose 1.0 percent. As a result, Canada's merchandise trade surplus widened from $949 million in August to $2.0 billion in September.

Total exports rose 2.7 percent in September, a third consecutive monthly increase. From June to September, the value of exports rose 11.4 percent. Increases were observed in 7 of the 11 product sections in September, with energy products accounting for most of the gain in total exports. The contribution of prices to the monthly export movement was noteworthy in September; exports were up slightly by 0.4 percent in real (or volume) terms.

Total imports increased 1.0 percent in September. Combined, the increases in Canadian exports observed in August and September have almost offset the decline in July, which was partly driven by port disruptions in British Columbia. Despite the overall increase in September, more product sections declined than increased in the month. In real (or volume) terms, imports were up 1.7 percent.

In September, exports to the United States were up 2.6 percent, largely because of higher exports of energy products. Meanwhile, imports from that country rose 1.7 percent. As a result, Canada's trade surplus with the United States widened for a third consecutive month, from $11.0 billion in August to $11.7 billion in September.

Exports to countries other than the United States increased 2.9 percent in September, while imports from these countries edged down 0.2 percent. As a result, Canada's merchandise trade deficit with countries other than the United States narrowed from $10.1 billion in August to $9.6 billion in September.


Similar articles

Canadian trade surplus widens to $1.4 billion in February

04 Apr | Steel News

Canadian trade surplus shifts to $312 million deficit in December

07 Feb | Steel News

Canadian trade surplus narrows to $1.6 billion in November

09 Jan | Steel News

Canada’s trade surplus widens to $3 billion in October

06 Dec | Steel News

Canada’s trade deficit narrows to $987 million in July

06 Sep | Steel News

Canadian trade deficit widens to $3.7 billion in June

08 Aug | Steel News

Canada’s trade surplus turns to $3.4 billion deficit in May

06 Jul | Steel News

Canadian trade surplus widens to $1.9 billion in April

07 Jun | Steel News

Canada reverses trade deficit to $972 million surplus in March

04 May | Steel News

Canadian trade surplus narrows to $422 million in February

05 Apr | Steel News