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    • Statistics Canada reports $1.9B merchandise trade surplus for January

    A truck carries a cargo container at the Port of Vancouver Centerm container terminal as others are stacked under gantry cranes, in Vancouver, on Friday, October 14, 2022. THE CANADIAN PRESS/Darryl Dyck A truck carries a cargo container at the Port of Vancouver Centerm container terminal as others are stacked under gantry cranes, in Vancouver, on Friday, October 14, 2022. THE CANADIAN PRESS/Darryl Dyck
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    Statistics Canada says the country posted a merchandise trade surplus of $1.9 billion in January, helped by exports of wheat, canola oil and soybeans.

    The agency says the result compared with a revised surplus of $1.2 billion for December. The initial reading for the final month of 2022 released last month had showed a deficit of $160 million.

    Exports in January totalled $67.0 billion, a gain of 4.2 per cent compared with December, as exports of farm, fishing and intermediate food products rose 11.9 per cent to reach a record $5.9 billion.

    Exports of motor vehicles and parts climbed 8.2 per cent higher in January to $8.3 billion, the highest level since May 2019.

    Meanwhile, total imports rose 3.1 per cent to $65.1 billion in January as imports of motor vehicles and parts gained 11.1 per cent to reach a record $11.0 billion.

    In volume terms, exports gained 5.3 per cent in January, while imports rose 4.1 per cent.

    This report by The Canadian Press was first published March 8, 2023.

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    N.L.

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