Canada’s trade surplus with its main trading partner, the United States, widened; It rose from $7.2 billion in March to $9.5 billion in April. (Photo: Andrew Vaughan for the Canadian Press)
OTTAWA – Canada’s goods trade surplus with the world widened significantly last April compared to the previous month, rising from $231 million to $1.9 billion.
Statistics Canada shows that in April, the country’s merchandise exports increased by 2.5%, while imports decreased slightly, by 0.2%.
Shipments of metallic and non-metallic products, which rose 13.6%, contributed the most to export growth in April.
Rough gold exports jumped 46%, due to an increase in the transfer of gold assets from Canadian financial institutions to the United States. Statistics Canada stated that these increases come amid economic uncertainty, as investors tend to favor safe-haven metals such as gold and silver.
Exports of energy products also increased in April, by 6.4%, while exports of automobiles and their spare parts increased by 7.4%.
Energy product flows decreased by 12.8%. They contributed the most to the decline in Canadian imports in April. Crude oil imports fell 20.5%, due in part to lower shipments from Saudi Arabia and the United States.
Canada’s trade surplus with its main trading partner, the United States, widened; It rose from $7.2 billion in March to $9.5 billion in April.
In contrast, Canada’s merchandise trade deficit with countries other than the United States increased during the same period from $7 billion to $7.5 billion.
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