Canadian Trade Surplus Climbs 11%

By Agence France-Presse Canada's trade surplus climbed 11% to C$5.2 billion (US$3.4 billion) in April compared with March, due partially to stronger exports of automotive parts, Statistics Canada, the country's statistical agency, said June 20. Exports rose nearly 3% month-over-month to C$34.3 billion from a revised figure of C$33.4 billion in March. Imports during the month of April inched up 1.6% to 29.1 billion from 28.6 billion in March. Stronger exports -- increasing at nearly double the pace of imports -- helped boost Canada's trade surplus to its highest level since May 2001. Exports of automotive products, Canada's largest export sector, rose some 4% to C$8.2 billion dollars from C$7.9 billion. Canada's trade surplus with the United States -- where 85% of all Canadian exports go -- rose 8.2% to C$8.3 billion from C$7.65 billion in March. "The United States accounted for more than two-thirds of the increase in Canada's exports in April, while imports from the United States remained virtually unchanged," the government agency said. Overall, Canada's total trade deficit with nations other than the United States rose C$109 million to C$3.1 billion dollars in April. Copyright Agence France-Presse, 2002