9 April 2009

Canada posts surprise trade surplus

The following was reported on in today's "Financial Post".

Canada posted an unexpected trade surplus in February, rebounding from two straights months of deficits, Statistics Canada said Thursday.

The federal agency said exports rose 5.2% to $33.1-billion during the month "as all sectors increased and auto makers resumed production." Imports increased 1.1% to $33-billion, led by machinery and equipment, it said.

As a result, Canada recorded a trade surplus of $126-million, following deficits of $1.15-billion in January and $652-million in December.

Most economists expected a decline of $1.2-billion in February.