Canada: trade surplus grows as export volumes fall
September data released November 4 show different movements in value and volume.
New report dated November 5 on data released November 4.
Canada recorded a C$5.35 billion merchandise trade surplus in September, its highest since May 2022, Reuters reports from Statistics Canada data. [2]
A larger surplus
The official release rounds the balance to C$5.4 billion, compared with C$5.0 billion in August. Export values rose 0.2% while imports fell 0.3%. [1]
Uneven performance
Export volumes nevertheless fell 4.0%. Energy and metal and non-metallic mineral products supported the overall value; excluding these two categories, exports declined 5.6%. [1]
What the total leaves out
Reuters notes that sales to the United States rose 0.7%. A larger overall surplus therefore does not mean every exporter is gaining. The release and the news report describe the same statistical series, not two separate measurements. [2]
Perspectives compared
Sources and documents
- [1] Statistics Canada — merchandise trade ↗November 4, 2026
- [2] Reuters / Investing.com — Promit Mukherjee ↗November 4, 2026