Canadian trade surplus jumped in August, powered by energy

Canada’s trade surplus with the rest of the world expanded significantly in August on larger energy exports.

The country’s merchandise trade surplus was $1.94 billion from a revised $736 million surplus in July, Statistics Canada reported Tuesday in Ottawa. Economists were expecting a surplus of $430 million, according to the median estimate in a Bloomberg survey. 

August was the third consecutive month in which Canada’s trade balance was in surplus. Exports rose 0.8 per cent, with energy products rising the most, and imports fell 1.4 per cent. 

In volume terms, exports rose 2.3 per cent and imports fell 3.2 per cent. Shipments abroad of coal, natural gas and crude oil increased, along with metal products. In addition to autos, aircraft and other transportation equipment were a drag on imports.

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