Canadian trade balance data for January

  • Prior was +0.92B (revised to +$0.45B)
  • Third consecutive surplus after years of deficits
  • Exports +0.5% m/m
  • Imports -0.3% m/m
  • Total exports hit record $46.5B

Higher exports of autos and parts (+7.7%) were offset partly by lower imports of metals and non-metallic mineral products, especially gold.

Canada's trade surplus with the United States widened from $3.8 billion in December to $4.5 billion in January. Exports to countries other than the US fell 4.4%.