Canada’s merchandise imports declined 1.5 per cent in September, while exports rose 1.1 per cent, said Statistics Canada Tuesday. As a result, Canada’s trade balance with the world went from a deficit of $463 million in August to a surplus of $710 million in September.
Imports declined to $44.1 billion, as volumes decreased 1 per cent and prices were down 0.6 per cent. The main contributors to the decline in imports were energy products as well as metal and non-metallic mineral products.
International Trade, Canada
Exports rose to $44.8 billion, as volumes were up 1.6 per cent while prices edged down 0.4 per cent, said Statistics Canada. Increases were reported in 8 of 11 sections, led by motor vehicles and parts, consumer goods as well as metal and non-metallic mineral products.
Exports of motor vehicles and parts increased 6 per cent to $6.4 billion in September. The main contributor was passenger cars and light trucks, up 8.6 per cent.
Exports of consumer goods rose 6.6 per cent to $5.2 billion, as volumes were up 5.5 per cent. Leading the section’s gains in exports was pharmaceutical and medicinal products, up 14.1 per cent, which was up for a second consecutive month. Also contributing to the increase were miscellaneous goods and supplies, up 10.2 per cent, meat products, up 8.4 per cent and other food products, up 3.8 per cent.
Exports of metal and non-metallic mineral products advanced 6.2 per cent to $5.2 billion, the highest value since the record high $5.6 billion in December 2011. For the section as a whole, volumes were up 10.6% while prices were down.