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Canada’s trade surplus widens in September -Breaking

by Mike Robinson

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© Reuters. FILE PHOTO – A truck passes stacked shipping containers at Montreal’s Port of Montreal (Quebec, Canada), May 17, 2021. REUTERS/Christinne Muschi/File Photo

OTTAWA (Reuters – Canada’s trade surplus widened with the rest of the world in September. Analysts had expected this, because Canada’s energy exports outweighed a sharper drop in trade between Canada and other parts. The data was released on Thursday.

In September, the country had a trade surplus of C$1.86 trillion ($1.50billion), which was higher than an average analyst’s estimate of C$1.55billion and up from an August surplus of C$1.51billion. It marked the fourth consecutive trade surplus.

The 2.3% drop in exports was due to shutdowns that were caused by the semi-conductor chips shortage. However, this decrease was partially compensated by increased energy product exports. Also, imports on parts and motor vehicles fell 3.0%.

Canadian dollars were 0.3% higher at 1.2425 to greenback. This is 80.48 U.S.cents. As the greenback rose against major currencies, the Canadian dollar fell 0.3%.

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