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Canada posts $923-million trade surplus in December

The result for November was also revised to show a surplus of $1 billion


February 7, 2017
The Canadian Press
The Canadian Press

OTTAWA—Statistics Canada says the country posted its second consecutive monthly trade surplus in December.

The agency says Canada’s merchandise trade balance with the world posted a surplus of $923 million for the final month of 2016.

The result for November was also revised to show a surplus of $1 billion compared with an initial reading of a surplus of $526 million.

Economists on average had expected surplus of $350 million for December, according to Thomson Reuters.

Exports in December gained 0.8 percent to a record $46.4 billion in December due to higher energy product prices. Meanwhile, imports increased 1.0 percent to $45.5 billion in December, due in large part to imports of aircraft and industrial machinery.

In volume terms, exports fell 1.4 per cent in December, while import volumes gained 0.4 percent.

News from © Canadian Press Enterprises Inc. 2016