Canada’s merchandise trade surplus widened by more than expected in October, led by exports of consumer goods, canola and wheat.
from a downwardly revised $607 million in September, Statistics Canada reported Tuesday in Ottawa. Economists were anticipating exports to exceed imports by $900 million in October.Total exports rose 1.5 per cent, while total imports increased 0.6 per cent on the month, led by passenger cars and light trucks, which saw higher import values as the loonie fell.
The international trade sector could still be one bright spot in the economy at the beginning of the final quarter, offsetting some weakness in household consumption and business investment as the country’s output is set to stall in coming quarters. Stripping away the impact of prices, Canada exports rose 0.1 per cent, while imports fell 0.9 per cent.
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