Canada’s merchandise trade surplus unexpectedly widened in September as exports of wheat and crude oil rebounded.
The surplus rose to C$1.1 billion ($827 million), from a downwardly revised C$550 million in August, Statistics Canada reported Thursday from Ottawa. Economists projected exports would exceed imports by C$1.2 billion in September, from an initially reported surplus of C$1.5 billion the previous month.
Total exports rose 1.3% in September, led by wheat, canola, and energy products. Total imports increased 0.4%, led by consumer goods, and industrial machinery, equipment and parts. In volume terms, exports rose 1.7% and imports fell 0.8%
Canada’s trade surplus with the US narrowed to C$9.8 billion on the month, the lowest since December 2021, from C$10.2 billion in August.