Â鶹´«Ã½

Skip to main content

Merchandise trade surplus $3.1 billion in November: StatCan

Loonies are displayed on a map of North America in this file photo from Thursday, Jan. 9, 2014. (Paul Chiasson / THE CANADIAN PRESS) Loonies are displayed on a map of North America in this file photo from Thursday, Jan. 9, 2014. (Paul Chiasson / THE CANADIAN PRESS)
Share

Canada's merchandise trade surplus rose to $3.1 billion in November, despite the disruptions caused by flooding and landslides in B.C.,

The agency said the result compared with a revised surplus of $2.3 billion for October which was initially estimated at $2.1 billion.

Bank of Montreal economist Shelly Kaushik said nine of the first 11 months of 2021 were in the black, the most since 2008, putting the full year on course for the first surplus since 2014.

"Broader trade activity surged in November, with exports and imports increasing despite the devastating B.C. floods," Kaushik wrote in a report.

"While the transportation impact could linger into the coming months, this report adds to the evidence that the economy had strong momentum ahead of further restrictions in December."

Statistics Canada said exports from B.C. in November fell 7.8 per cent, however exports from other Canadian provinces rose 11 per cent. It noted that the disruptions due to the flooding were less apparent in import data because while damage to highways and railways in B.C. limited the movement of goods further inland, operations to unload goods from container ships were not heavily impacted.

For November, overall exports rose 3.8 per cent in November to $58.6 billion.

Exports of consumer goods climbed nine per cent in November to $7.3 billion as large shipments of COVID-19 medication came into Canada for packaging and labelling and were subsequently exported. Exports of basic and industrial chemical, plastic and rubber products increased 14.7 per cent to $3.8 billion.

Meanwhile, imports rose 2.4 per cent in November to $55.4 billion.

Imports of consumer goods rose 5.2 per cent in November to $12.3 billion, while imports of metal and non-metallic mineral products climbed 7.3 per cent to nearly $5 billion.

Regionally, Statistics Canada said the country's trade surplus with the United States increased to $9.8 billion in November, its highest level since January 2006.

Canada's trade surplus with the U.S. in October was $8.8 billion.

Meanwhile, Canada's trade deficit with countries other than the United States was $6.7 billion in November compared with $6.5 billion in October.

In a separate release, Statistics Canada said the country's international trade in services deficit narrowed to $230 million in November compared with $520 million in October.

Exports of services rose 2.9 per cent to $11.7 billion, while imports of services edged up 0.3 per cent to $11.9 billion.

Canada's trade surplus for goods and services combined was $2.9 billion in November compared with $1.7 billion in October.

This report by The Canadian Press was first published Jan. 6, 2022.

CTVNews.ca Top Stories

British Columbia saw a rare unanimous vote in its legislature in October 2019, when members passed a law adopting the United Nations Declarations on the Rights of Indigenous Peoples, setting out standards including free, prior and informed consent for actions affecting them.

A pedestrian has died after reportedly getting struck by an OPP cruiser in Bala early Sunday morning.

Two and a half years after losing her best friend and first love to suicide, Brooke Ford shared her story of grief and resilience at the CMHA Windsor-Essex Suicide Awareness Walk.

opinion

opinion How to make the most out of your TFSA

The Tax-Free Savings Account can be a powerful savings tool and investment vehicle. Financial contributor Christopher Liew explains how they work and how to take full advantage of them so you can reach your financial goals faster.

Local Spotlight

A tale about a taxicab hauling gold and sinking through the ice on Larder Lake, Ont., in December 1937 has captivated a man from that town for decades.

When a group of B.C. filmmakers set out on a small fishing boat near Powell River last week, they hoped to capture some video for a documentary on humpback whales. What happened next blew their minds.

A pizza chain in Edmonton claims to have the world's largest deliverable pizza.

Sarah McLachlan is returning to her hometown of Halifax in November.

Wayne MacKay is still playing basketball twice at Mount Allison University at 87 years old.

A man from a small rural Alberta town is making music that makes people laugh.

An Indigenous artist has a buyer-beware warning ahead of Sept. 30, the National Day for Truth and Reconciliation.

Police are looking to the public for help after thieves broke into a Lethbridge ice creamery, stealing from the store.

An ordinary day on the job delivering mail in East Elmwood quickly turned dramatic for Canada Post letter carrier Jared Plourde. A woman on his route was calling out in distress.

Stay Connected