Investing.com – Canada’s trade balance swung to a surplus for the first time in nine months in September, official data showed on Thursday.
In a report, Statistics Canada said that Canada’ trade balance swung to a surplus of CAD1.2 billion in September, after posting a deficit of CAD0.5 billion in August, whose figure was revised from a deficit of CAD0.6 billion.
It was the first trade surplus since January 2011.
Analysts had expected Canada’s trade balance to post a 0.5 billion deficit in September.
Canada's exports increased by 4.2% to CAD39.7 billion in September, the highest values since October 2008.
Imports declined 0.3% to CAD38.5 billion, as volumes fell 3.1% and prices increased 2.8%.
Following the release of the data, the Canadian dollar added to gains against its U.S. counterpart, with USD/CAD slumping 0.66% to trade at 1.0183.
In a report, Statistics Canada said that Canada’ trade balance swung to a surplus of CAD1.2 billion in September, after posting a deficit of CAD0.5 billion in August, whose figure was revised from a deficit of CAD0.6 billion.
It was the first trade surplus since January 2011.
Analysts had expected Canada’s trade balance to post a 0.5 billion deficit in September.
Canada's exports increased by 4.2% to CAD39.7 billion in September, the highest values since October 2008.
Imports declined 0.3% to CAD38.5 billion, as volumes fell 3.1% and prices increased 2.8%.
Following the release of the data, the Canadian dollar added to gains against its U.S. counterpart, with USD/CAD slumping 0.66% to trade at 1.0183.