Canada posts trade surplus in Q1
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E-mail Xinhua, May 5, 2021
OTTAWA, May 4 (Xinhua) -- Canada's international trade enjoyed a surplus of 1.5 billion Canadian dollars (About 1.2 billion U.S. dollars) in the first quarter of 2021, the first surplus since the last quarter of 2016, according to Statistics Canada on Tuesday.
In the first quarter of 2021, the country's exports jumped 8.3 percent to 152.6 billion Canadian dollars, the highest value since the second quarter of 2019.
Export prices rose 6.6 percent in the first quarter as exports of energy products surged 31.2 percent and aircraft and other transportation equipment and parts were up 43.6 percent while forestry products soared 11.9 percent.
Meanwhile, imports edged up 0.5 percent to 151.0 billion Canadian dollars due to higher imports of energy products.
In terms of monthly figures, Canada's imports jumped 5.5 percent in March 2021 while exports edged up 0.3 percent, according to Statistics Canada on Tuesday.
As a result, following two consecutive monthly trade surpluses, Canada's international trade balance returned to a deficit position, moving from a surplus of 1.4 billion Canadian dollars in February to a deficit of 1.1 billion Canadian dollars in March.
Total imports rose 5.5 percent in March to 51.8 billion Canadian dollars, the highest since May 2019. All 11 product sections posted increases, with nine up more than 100 million Canadian dollars.
Year over year, the value of imports rose 6.3 percent compared with March 2020, when the COVID-19 pandemic significantly impacted Canada's trade activity.
In real or volume terms, total imports rose 7 percent in March.
Total exports edged up 0.3 percent in March to 50.6 billion Canadian dollars, 14.4 percent more than in March 2020. Exports of non-energy products rose two percent to 41.2 billion Canadian dollars, the highest since the record observed in May 2019.
In real or volume terms, total exports were down 0.3 percent.
Canadian imports from China surged 27.1 percent in March. Imports of electronics, furniture and appliances, among others, contributed to the widespread growth in imports from China. Enditem
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