Investing.com – Canada’s trade surplus contracted unexpectedly in January, official data showed on Thursday.
In a report, Statistics Canada said that Canada’ trade surplus narrowed to a seasonally adjusted CAD0.1 billion, compared to a surplus of CAD1.7 billion in December, whose figure was revised down from a surplus of CAD3.0 billion.
Analysts had expected Canada’s trade surplus to widen to CAD2.4 billion in January.
According to the data, imports and exports both advanced in January, led by higher volumes of automotive products. Imports rose 5.3% while exports increased 0.8%.
Following the release of the data, the Canadian dollar was down against its U.S. counterpart, with USD/CAD climbing 0.43% to hit 0.9729.
In a report, Statistics Canada said that Canada’ trade surplus narrowed to a seasonally adjusted CAD0.1 billion, compared to a surplus of CAD1.7 billion in December, whose figure was revised down from a surplus of CAD3.0 billion.
Analysts had expected Canada’s trade surplus to widen to CAD2.4 billion in January.
According to the data, imports and exports both advanced in January, led by higher volumes of automotive products. Imports rose 5.3% while exports increased 0.8%.
Following the release of the data, the Canadian dollar was down against its U.S. counterpart, with USD/CAD climbing 0.43% to hit 0.9729.