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Canada’s commerce surplus rose to $1.2 billion in October, led by exports of client items and commodities comparable to canola and wheat.
The October commerce surplus was up from a downwardly revised $607 million in September, in response to Statistics Canada.
Economists had been anticipating that Canada’s exports would exceed imports by $900 million within the month.
Whole exports rose 1.5%, whereas complete imports elevated 0.6% throughout October. Exports of canola rose 73.8% and wheat exports gained 18%.
Canada’s exports to China rose 25.4% to a record-high of $3.3 billion, pushed by larger exports of canola, oilseeds, and wheat merchandise.
After 4 consecutive month-to-month declines, Canada’s commerce surplus with the U.S. grew to $10 billion in October, up from $9.3 billion in September of this 12 months.
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