January 12, 2024
Statistics Canada announced that the country's merchandise imports increased 1.9% in November, while exports were down 0.6%.
As a result, Canada's merchandise trade surplus with the world narrowed from $3.2 billion in October to $1.6 billion in November. This represents a fourth consecutive monthly trade surplus.
The Federal agency notes that the November imports rise of 1.9% follows a decrease of 2.9% in October. November saw increases in 8 of the 11 product sections, notably imports of energy products, which increased 11.6%, industrial machinery, equipment and parts (+4.9%). Imports of electronic and electrical equipment and parts rose 4.7%.
The exports decline of 0.6% in November occurred despite increases in 7 of the 11 product sections. Metal and non-metallic mineral products, as well as aircraft and other transportation equipment and parts posted the largest declines by far.