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Canadian trade balance tips further in our favor

OTTAWA, Ont. -- According to Statistics Canada, this country's trade balance jumped 11 per cent from March to $5.2...


OTTAWA, Ont. — According to Statistics Canada, this country’s trade balance jumped 11 per cent from March to $5.2 billion in April, the highest level since May 2001.

This was thanks in part to merchandise exports, which rose 2.9 per cent to $34.3 billion, the highest level since June 2001.

Export growth was particularly strong in automotive products, Canada’s largest export sector, rising 4.1 per cent to $8.2 billion. Machinery and equipment increased 2.6 per cent to $7.8 billion. Together these two sectors account for nearly half of all merchandise exports.

Merchandise imports, however, rose at slightly more than half the pace of exports to $29.1 billion, a 1.6 per cent increase from March. As a result, Canada’s overall trade surplus increased, ending a two-month slide.

The trade surplus with the U.S. jumped 8.2 per cent to $8.3 billion. Canadian companies sent $29.2 billion in goods to the U.S. in April, a 2.4 per cent increase from March, while they imported $20.9 billion worth, up 0.3 per cent.


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