Canada's Trade Surplus Reverses Seven-Month Deficit Streak

In September, Canada recorded its first trade surplus in seven months, with a C$153 million increase. This shift was fueled by a 44% rise in trade surplus with the U.S., a major trading partner. Total exports grew 6.3%, particularly in metals, minerals, and transportation equipment.

Canada achieved a noteworthy economic milestone in September by posting its first monthly international trade surplus in seven months, according to data released on Thursday. Statistics Canada reported a modest surplus of C$153 million ($110.92 million), following a C$6.43 billion deficit recorded in the previous month.

This marks the first trade surplus since the imposition of tariffs by former President Trump on critical sectors, which had restrained Canada's exports to the U.S., its largest trading partner. The surplus was primarily driven by a 44% increase in Canada's trade with the U.S., as highlighted in recent data.

Despite a 43-day U.S. government shutdown delaying the release of September's trade data, the figures showed a robust 6.3% increase in total exports, led by significant gains in metals, minerals, and aircraft. Meanwhile, imports decreased by 4.1%, contributing to this economic upturn.