Friday, April 10, 2009

Canada returns to small trade surplus in February

Canadian exports and imports both grew in February — ending three months of sharp declines — as the country returned to a relatively small trade surplus.

Statistics Canada said Thursday the country posted a merchandise trade surplus of $126 million, up from a deficit of $1.2 billion in January.

Exports rose 5.2 per cent to $33.1 billion as all sectors increased and auto makers resumed production.

Exports of machinery and equipment and automotive products accounted for almost three-quarters of the gain in exports in February. The volume of exports shipped grew by seven per cent, while prices declined 1.7 per cent.

Meanwhile, imports increased 1.1 per cent to $33 billion led by machinery and equipment.