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Statistics Canada reports $3B merchandise trade surplus for October

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OTTAWA — Statistics Canada says the country’s merchandise trade surplus grew to $3.0 billion in October as imports fell and exports edged higher.

The agency says the result compared with a revised surplus of $1.1 billion in September. 

The October figures showed imports fell 2.8 per cent for the month to $63.0 billion for the month as imports of metal and non-metallic mineral products dropped 14.7 per cent and motor vehicles and parts moved down 5.8 per cent.

On the flip side, exports of goods rose 0.1 per cent in October to $66.0 billion.

The move came as exports of aircraft and other transportation equipment and parts gained 15.0 per cent, offset by a 1.2 per cent drop in exports of energy produces and a 3.5 per cent decline in basic and industrial chemical, plastic and rubber products.

In volume terms, imports in October fell 3.2 per cent, while export volumes edged down 0.1 per cent.

This report by The Canadian Press was first published Dec. 6, 2023.

The Canadian Press

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The Canadian Press is Canada’s independent national news agency that informs Canadians, providing depth, breadth and perspective with regional, national and international news 24/7/365.

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