Merchandise trade surplus hit $3.1 billion in November

by The Canadian Press (CPSTF)

Statistics Canada says the country’s merchandise trade surplus rose to $3.1 billion in November, despite the disruptions caused by flooding and landslides in B.C.

The agency says the result compared with a revised surplus of $2.3 billion for October which was initially estimated at $2.1 billion.

The larger trade surplus came as total exports rose 3.8 percent in November to $58.6 billion.

Exports of consumer goods climbed 9.0 percent in November to $7.3 billion as large shipments of COVID-19 medication came into Canada for packaging and labelling and were subsequently exported. Exports of basic and industrial chemical, plastic and rubber products increased 14.7 percent to $3.8 billion.

Meanwhile, imports rose 2.4 percent in November to $55.4 billion.

Imports of consumer goods rose 5.2 percent in November to $12.3 billion, while imports of metal and non-metallic mineral products climbed 7.3 percent to nearly $5 billion.