(Ottawa) Canada’s exports of goods rose 1.5% in October, according to Statistics Canada, while imports rose 0.6%.
As a result, Canada’s trade surplus with the world in goods rose to $1.2 billion in October from $607 million in September.
The 9.7% increase in exports of consumer goods was the main contributor to the overall increase in exports in October. According to Statistics Canada, the 20.7% increase in pharmaceuticals was the main reason for this increase, thanks largely to an increase in pharmaceutical exports to the United States.
Exports of miscellaneous commodities and supplies fell 36.7% from June to September, but recovered 30.7% in October. Exports of agricultural and fishery products and food intermediates rose 10.2% in October to a record US$5.5 billion.
The federal agency noted that exports to countries other than the United States rose 2.2% in October and those to China rose 25.4% to 3.3 billion, mainly due to higher exports of canola, oilseeds and wheat.
As for imports, those of motor vehicles and motor vehicle parts increased by 4.6%. Imports of metal and non-metal mineral products increased by 6.5%.
Energy product imports fell 18.8% in September but rose 8.4% in October, mainly due to higher crude oil shipments.
Statistics Canada found that imports from China fell 3.7%.
Canada’s goods trade surplus with its largest trading partner, the United States, widened to $10 billion in October, from $9.3 billion in September.
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