Posted 11/7/2023, 1:49:15 PM
Canada's Trade Surplus Doubles in September on Higher Energy Exports and Wheat Harvest
- Canada's trade surplus doubled to $2.04 billion in September due to higher energy prices
- Exports rose 2.7% in September, led by gains in energy products from higher crude oil prices
- Wheat exports also rose over 50% due to favorable weather and harvest conditions
- Imports increased 1.0%, driven by more imports of passenger cars and light trucks
- The Bank of Canada expects muted economic growth until end of 2024 due to 10 interest rate hikes