December 05, 2024 at 01:30PM
Prior was -1.26B
Exports $64.22B vs $63.88B prior
Imports $65.14B vs $65.15B prior
First increase in exports since June, but gains were concentrated in precious metals
Trade surplus with US shrank to C$6.2B from C$7.9B as exports to US fell 2.8%
Gold exports surged, especially to UK and Hong Kong (+20.9%)
Key Details:
8 of 11 export sectors declined despite headline gain
Consumer goods exports +4.7%, led by pharma products
US remains key concern with exports down 8.0% y/y
Worth noting:
Import data quality issues due to new customs system implementation
Services deficit of C$77M vs +C$155M surplus in September
This article was written by Adam Button at www.forexlive.com.
Canada October trade balance -$0.92 vs -$0.79 billion expected