(Ottawa) The Canadian merchandise trade surplus with the rest of the world soared in February mainly due to the increase in gold exports which reached an “unprecedented peak,” Statistics Canada announced Thursday.
It jumped in one month, going from 608 million Canadian dollars in January to 1.4 billion (954 million euros) in February.
Total exports thus increased by 5.8%, “the largest percentage increase” since August, according to the statistics institute.
More than half of this increase in exports was linked to the strong growth in exports of gold in raw form.
Exports of metal products and non-metallic mineral products increased by 31.1% to reach a record value of $9.4 billion.
Statistics Canada also noted increases in wheat deliveries to Asian countries as well as exports of other plant products.
Imports rose 4.6%, their highest level since June. Only the metal products and non-metallic mineral products sector declined slightly.
Imports of electronic and electrical equipment and parts increased (+9.7%) and can be explained in particular by the increase in imports of computers and peripherals (+41.4%).
After falling in January, crude oil imports have rebounded.
The trade surplus with the United States, its largest partner, increased from $8.8 billion in January to $9.1 billion in February.
On the other hand, the trade deficit with other countries widened, to $7.7 billion in February, compared to $8.2 billion in January.