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Canada Posts Largest Trade Surplus Since 2008 on Record Exports

Posted September 05, 2014

Under Economic Issues, International Trade Issues

(Barrie McKenna – Globe & Mail)

Canada ran up its largest trade surplus since the Great Recession this summer in the latest sign that exports are once again driving the economy.

The merchandise trade surplus reached $2.6-billion in July, up from a revised $1.8-billion surplus in June, led by surging exports of cars, forest products and machinery, mainly to the United States.

 

Canada is finally enjoying the benefits of a lower Canadian dollar and its close ties to the rapidly accelerating economy in the U.S. – the destination for roughly three quarters of Canadian exports. Read more here.