Canada sees trade surplus of $1.9B in April

ISTANBUL

Canada saw a trade surplus of $1.9 billion in April, said the country’s statistical body on Wednesday.

Market expectations were for the figure was to come in at around $900 million in April.

The figure for March was revised significantly downward from a $972 million surplus to $231 million, Statistics Canada said in a statement.

Canada's merchandise exports rose 2.5% in April, after two consecutive monthly declines, while imports were down 0.2%.

Exports of mineral products contributed the most to the growth in exports, up 13.6%, while exports of unwrought gold posted the largest increase, 46%, on both higher volumes and prices, said Statistics Canada.

Energy product exports rose 6.4% in April, while crude oil exports saw a gain of 7.1% driven by higher prices, ending six consecutive months of decline.

"April 2023 also saw higher exports of coal, driven mostly by increased exports to South Korea," said the statement.

ISTANBUL

Canada saw a trade surplus of $1.9 billion in April, said the country’s statistical body on Wednesday.

Market expectations were for the figure was to come in at around $900 million in April.

The figure for March was revised significantly downward from a $972 million surplus to $231 million, Statistics Canada said in a statement.

Canada's merchandise exports rose 2.5% in April, after two consecutive monthly declines, while imports were down 0.2%.

Energy product exports rose 6.4% in April, while crude oil exports saw a gain of 7.1% driven by higher prices, ending six consecutive months of decline.

"April 2023 also saw higher exports of coal, driven mostly by increased exports to South Korea," said the statement.