Statistics Canada announced that the country’s merchandise exports rose 1.3% in September, while imports increased 0.4%.
As a result, Canada’s merchandise trade surplus with the world widened from $550 million in August to $1.1 billion in September.
The Federal Agency reports that, following decreases of 3.7% in July and 2.7% in August, total exports reached $66.4 billion in September. Increases were observed in 6 of the 11 product sections. Total imports reached $65.2 billion. Increases were observed in 6 of the 11 product sections.
Exports to the United States fell 0.4% in September, a third consecutive monthly decline. At the same time, imports from the United States were up 0.4%. As a result, Canada’s trade surplus with the United States narrowed from $10.2 billion in August to $9.8 billion in September, the lowest surplus since December 2021.
Exports to countries other than the United States increased 7.0% in September, the strongest increase since May 2022. Meanwhile, imports from those countries rose 0.5%. The merchandise trade deficit with countries other than the United States narrowed from $9.6 billion in August to $8.7 billion in September.