Autos lead sharp rise in Canada exports to U.S.

OTTAWA — Canadian merchandise exports and imports rose notably in May.

Higher volumes of automotive products led to 5.2 percent  boost in exports ($34.5 billion from $32.8); while broad-based increases in imports led to a 5.7 percent gain ($35 billion from $33.1 billion) on that front.

Export volumes increased 3.9 percent and prices grew 1.2 percent, reports Stats Canada.

Export volumes have been trending upwards since the low reached in May 2009.

While all the export sectors posted gains, automotive products (up 21%) accounted for over half the growth. Volumes also jumped substantially to 17 percent — the seventh straight monthly increase.

These gains, reports Statscan, reflects the popularity of some models manufactured in Canada.

Import volumes, meanwhile increased 4.2 percent while prices grew 1.4 percent.

All import sectors, except agricultural and fishing products, grew in May. Machinery and equipment, industrial goods and materials as well as other consumer goods led the gain.

Exports to the United States jumped 5.5 percent while imports, while shipments to other countries — mostly in the EU — also grew by 4.4 percent. 

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