Canada’s trade surplus rose to $807 million in January, the third month in a row that the country exported more to the rest of the world than it imported.
Statistics Canada reported Tuesday that exports increased 0.5 per cent from the month earlier, led by higher shipments of motor vehicles and canola.
Strong demand from China pushed Canadian canola exports to a record high of $845 million, up 38.4 per cent and more than double October’s figure.
Exports of motor vehicles and parts rose by 7.7 per cent. Exports to the U.S., where three quarters of everything Canada makes ultimately goes, grew by 2.3 per cent during the month, pushing Canada’s surplus with the U.S. alone to $4.52 billion from $3.82 billion. Click here to read more.