Canada’s trade surplus reaches record high in January
Mar 06, 2025 .
- Admin
Canada’s trade surplus expanded to C$3.97 billion ($2.76 billion) in January, according to Statistics Canada. The increase was driven by a faster growth rate in exports compared to imports, both of which reached record highs for the month. This marks the largest trade surplus since May 2022.
The implementation of new software at the Canadian Border Services Agency resulted in a higher degree of estimation in this month’s data, as stated by Statscan.
The surge in exports was primarily due to a 5.5% increase in motor vehicles and parts, along with energy products. On the other hand, imports saw a growth of 2.3%, mainly driven by aircraft and other transportation equipment and parts, as well as electronic and electrical equipment and parts.
The implementation of new software at the Canadian Border Services Agency resulted in a higher degree of estimation in this month’s data, as stated by Statscan.
The surge in exports was primarily due to a 5.5% increase in motor vehicles and parts, along with energy products. On the other hand, imports saw a growth of 2.3%, mainly driven by aircraft and other transportation equipment and parts, as well as electronic and electrical equipment and parts.