Imports also spiked, led by the highest increase in machinery and equipment purchases in more than a decade, which suggests that businesses are taking advantage of the strength of the Canadian dollar against the US unit to make capital investments.
February's surplus was a seasonally adjusted C$5.67 billion, up from C$5.05 billion in the preceding month. January's figure was revised down from a preliminary C$5.23 billion.
The surplus was better than the mean C$5.25 billion forecast by analysts surveyed by Thomson IFR Bonddata.
Strong automotive shipments to the key US market helped drive February's exports up 7.0% month-on-month to C$34.09 billion, above the C$32.15 billion mean forecast in the Thomson IFR Bonddata survey. Exports of automotive products jumped 11.7% in February.
Exports had dipped to their lowest level in five years in January, at C$31.85 billion, unchanged from the preliminary figure released last month.
Canada bought 9.3% more machinery and equipment in February - the highest since August 1993 - which helped push imports up 6.1% to C$28.42, better than the C$27.2 billion predicted in the Thomson IFR Bonddata poll. January's imports were revised to C$26.80 billion from a preliminary C$26.61 billion.
Statistics Canada said import and export prices rose only slightly in February, indicating that most of the growth was real or volume related.
Exports prices were up 1.3%, while export volumes were up 5.7%. Import prices rose 2.4% while import volumes gained 3.6%.
Canada's exports to the US were up 7.0% in February. The bulk of Canada's exports - 81% - were to the US during the month. Imports from the US rose 5.8%.
Exports to Japan were up 6.0%, while imports jumped 13.9%.
Exports to the European Union rose 2.7% and imports rose 11.5%.
Exports to other OECD countries slipped 0.6%, but imports were up 4.5%.
Canada's exports to all other countries soared 17.5%, and imports rose 2.0%.
Canada's seasonally adjusted major exports in February compared with January included:
o Agricultural and fishing products up 3.6% to C$2.45 billion from C$2.37 billion;
o Energy products up 4.1% to C$5.16 billion from C$4.95 billion;
o Forestry products up 8.1% to C$3.02 billion from C$2.79 billion;
o Industrial goods and materials up 5.6% to C$6.16 billion from C$5.83 billion;
o Machinery and equipment up 8.0% to C$7.37 billion from C$6.82 billion;
o Automotive products up 11.7% to C$7.43 billion from C$6.65 billion;
Canada's seasonally adjusted imports in February compared with January included:
o Agricultural and fishing products up 5.6% to C$1.77 billion from C$1.67 billion;
o Energy products up 7.6% to C$1.68 billion from C$1.56 billion;
o Forestry products up 5.2% to C$241 million from C$229 million;
o Industrial goods and materials up 5.1% to C$5.58 billion from C$5.31 billion;
o Machinery and equipment up 9.3% to C$8.39 billion from C$7.68 billion;
o Automotive products up 4.5% to C$6.01 billion from C$5.75 billion.
(Dow Jones)
