OTTAWA, Ont. — Merchandise trade rebounded in September, recovering most of the declines experienced in August, largely because of the power blackout in Ontario and the northeastern United States.
Canadian companies exported $33.7 billion in merchandise in September, up 4.7%, according to Statistics Canada. At the same time, imports rose 4.5% to just over $28.0 billion.
As a result, Canada’s trade surplus with the rest of the world increased for the third consecutive month, surpassing $5.6 billion. During the past three months, the trade balance has increased by more than $1 billion.
The trade surplus with the United States also improved in September, rising from $7.7 billion to just over $8.1 billion, thanks to strong movements in the automotive and forestry sectors.
American companies purchased $27.7 billion in Canadian merchandise, up 4.4%. These exports accounted for 82% of Canada’s total. Canada in turn purchased $19.6 billion from the United States, up 4.0%, accounting for about 70% of total imports.
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