(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.