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Canada Posts Surprise Sept Trade Surplus as Energy Imports Drop

Posted November 04, 2014

Under Economic Issues, International Trade Issues

(David Ljunggren – Reuters)

A rise in exports and a sharp drop in energy imports caused by refinery shutdowns helped Canada post a surprise trade surplus of C$710 million ($623 million) in September, Statistics Canada data showed on Tuesday.

Analysts had expected a deficit of C$100 million. The surplus - the fourth in five months - follows a revised C$463 million deficit in August.

Bank of Canada Governor Stephen Poloz has pointed to longstanding weakness in the export sector as one reason the country’s economy is struggling to reach full potential. Read more here.