The following is from the 11 February 2011 edition of "The Canadian Business Journal".

Canada swung to a $3 billion trade surplus in December, distancing the country from a record deficit in July to the first winning month since February 2010.

Exports gained 9.7 per cent as volumes grew 6.6 per cent. Energy led the way with a 25.1 per cent advance, accounting for half the increase in exports, according to Statistics Canada's latest figures.

Imports saw a meagre 0.7 per cent, as prices saw their first rise in five months.

Exports to the United States, again led by the energy segment, saw a rise of 10.8 per cent to $26.7 billion – the highest mark since November 2008. Canada's trade surplus, which hit its smallest mark since 1992 in October, grew to $5.1 billion in December – the nation's largest surplus with the U.S. since October 2008.

Exports and imports to the rest of the world also fell, as Canada's trade deficit with countries other than the U.S. narrowed from $3.1 billion in November to $2.1 billion in December.

Energy volumes increased 16.5 per cent, as exports of crude petroleum increased 24.2 per cent to their highest levels since December 2009. Exports of precious metals saw a 25.8 per cent rise, and have doubled since January 2010.