OTTAWA — Statistics Canada says January saw the country post its first trade surplus since May 2019 as exports surged higher.
The agency says the surplus of $1.4 billion was the largest surplus since July 2014 and compared with a revised deficit of nearly $2 billion in December.
Economists on average had expected a deficit of $1.4 billion for January, according to financial data firm Refinitiv.
Total exports rose 8.1 per cent in January to $51.2 billion, with increases in all product sections.
Meanwhile, total imports increased 0.9 per cent in January to $49.8 billion
In real or volume terms, exports were up 5.1 per cent, while imports gained 1.0 per cent.
This report by The Canadian Press was first published March 5, 2021.