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March 8, 2022

Canada posts $2.6-billion merchandise trade surplus in January as imports fall to start year

Statistics Canada says the country posted a merchandise trade surplus in January compared with a deficit in December as imports fell to start the year.

The agency says Canada posted a merchandise trade surplus of $2.6-billion for January compared with a revised deficit of $1.6-billion in December.

The swing came as total imports fell 7.4 per cent to $54.0-billion.

Imports of motor vehicles and parts dropped 13.9 per cent in January as imports of passenger cars and light trucks fell 12.4 per cent. Imports of engines and parts decreased 15.4 per cent.

Meanwhile, total exports edged down 0.2 per cent to $56.6-billion as exports of motor vehicles and parts fell 9.6 per cent.

In real or volume terms, total imports fell 8.5 per cent in January, while exports posted a 4.6 per cent drop by volume.

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