Canada's trade surplus reached $1.9 billion in September

November 12, 2021

Statistics Canada announced that the country's merchandise exports decreased 2.3% in September, while imports were down 3.0%.

The federal agency says both declines were largely due to the shortage of semiconductor chips and their impact on the production of motor vehicles in North America.

Canada's merchandise trade surplus widened from $1.5 billion in August to $1.9 billion in September, a fourth consecutive monthly surplus.

Exports of motor vehicles and parts decreased by 17.9% from August to $4.6 billion in September, and were down 40.2% compared with September 2020. Imports of motor vehicles and parts decreased by 13.6% from August to $6.6 billion in September, which represents a 24.4% year-over-year decline.

Imports from the United States decreased 3.7% in September, while exports were down 2.2%. The trade surplus with the United States widened from $8.1 billion in August to $8.4 billion in September.

Imports from countries other than the United States decreased 2.1% in September, and exports to those countries were down 2.6% in September. As a result Canada's trade deficit with countries other than the United States remained at $6.6 billion in September.