OTTAWA, Ont. – Canadian export volumes recovered in October following their drop in September. Exports rose 1.2 per cent in October to $30.7 billion – that’s 7.9 per cent higher than in October last year, according to Statistics Canada’s most recent report on international merchandise trade.
The recovery followed a 3.2 per cent drop in September and is mainly attributed to increased exports in sectors such as industrial goods, automotive products, and machinery and equipment. The health of the light truck market is particularly noteworthy.
“There has been a spectacular 26.8 per cent increase in exports of trucks between October 1998 and October 1999 because of American demand,” Statistics Canada reports.
Meanwhile, imports increased for the ninth consecutive month in October, rising 0.7 per cent to reach $28 billion. That pushed Canada’s trade balance to $2.7 billion.
Imports of automotive products declined for the second consecutive month. However, truck imports are up 23.1 per cent from a year ago. n
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