Canada’s merchandise trade surplus reached $3.0 billion in October

Statistics Canada announced that the country’s merchandise imports fell 2.8% in October, while exports edged up 0.1%.

As a result, Canada’s merchandise trade surplus with the world widened from $1.1 billion in September to $3.0 billion in October.

The Federal agency notes that total imports decreased in 8 of the 11 product sections. Imports of metal and non-metallic mineral products declined 14.7% while imports of motor vehicles and parts fell 5.8%.

Total exports, registered a fourth consecutive monthly increase, despite declines in 6 of the 11 product sections. Exports of aircraft and other transportation equipment and parts rose 15.0% but the combined effect of lower exports of energy products (-1.2%) and basic and industrial chemical, plastic and rubber products (-3.5%) largely offset the overall export increase