Canada posts $923M trade surplus in December
November revised to show a $1 billion surplus compared with an initial reading of a $526 million.
OTTAWA — Statistics Canada says the country posted its second consecutive monthly trade surplus in December.
The agency says Canada’s merchandise trade balance with the world posted a surplus of $923 million for the final month of 2016.
The result for November was also revised to show a surplus of $1 billion compared with an initial reading of a surplus of $526 million.
Economists on average had expected surplus of $350 million for December, according to Thomson Reuters.
Exports in December gained 0.8 per cent to a record $46.4 billion in December due to higher energy product prices. Meanwhile, imports increased 1.0 per cent to $45.5 billion in December, due in large part to imports of aircraft and industrial machinery.
In volume terms, exports fell 1.4% in December, while import volumes gained 0.4%.