Canada’s trade surplus has held for three straight months, the longest run since 2014, when the plunge in oil prices devastated the Canadian economy.
The country’s trade surplus rose to $807 million (Cdn) in January. Exports surged as imports decreased by .03 per cent.
Increased shipments of cars and automotive parts were up 7.7 per cent. And the boost in canola exports to China, up 38.4 per cent, were partly responsible.
“Strong U.S. demand – stemming in part from an expected uptick businesses investment – combined with the Canadian dollar hovering in the mid-70 US cent range throughout the year, should bode well for Canadian-made goods,” TD Bank economist Dina Ignatiovic told CBC News.
“Of course, the potential for protectionist measures to be implemented south of the border presents some downside risk to this outlook.” she cautioned.
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