Canada exports rose 6.4% to reach a record CAD 56.2B in October. Exports grew in 8 of 11 product sections. The combined gains in exports of motor vehicles and parts and energy products accounted for almost 80% of the total growth.
Imports rose 5.3% to record CAD 54.1B. Gains were observed in 7 of 11 product sections. Motor vehicles and parts responsible for almost two-thirds of the monthly increase.
Trade surplus widened from CAD 1.4B to CAD 2.1B. well above expectation of CAD 1.6B. That’s also the largest surplus so far in 2021.