Canada sees trade surplus of $1.9B in April

By Ovunc Kutlu

ISTANBUL (AA) - Canada saw a trade surplus of $1.9 billion in April, said the country’s statistical body on Wednesday.

Market expectations were for the figure was to come in at around $900 million in April.

The figure for March was revised significantly downward from a $972 million surplus to $231 million, Statistics Canada said in a statement.

Canada's merchandise exports rose 2.5% in April, after two consecutive monthly declines, while imports were down 0.2%.

Exports of mineral products contributed the most to the growth in exports, up 13.6%, while exports of unwrought gold posted the largest increase, 46%, on both higher volumes and prices, said Statistics Canada.

Energy product exports rose 6.4% in April, while crude oil exports saw a gain of 7.1% driven by higher prices, ending six consecutive months of decline.

"April 2023 also saw higher exports of coal, driven mostly by increased exports to South Korea," said the statement.