Canada sees $496M trade surplus in January

By Ovunc Kutlu

ISTANBUL (AA) - Canada posted a $496 million surplus of trade in goods and services balance in January, according to its statistical agency.

The amount is significant recovery from a deficit of $863 million in December.

Canada's merchandise imports decreased 3.8% in January to $61.8 billion, marking the lowest level since February 2022; while exports fell 1.7%, Statistics Canada said Thursday in a statement.

"Imports from countries other than the United States were down 7.3% in January, partly because of lower imports from China and South Korea," it said.

"Exports to countries other than the United States also fell, in large part because of lower exports to Italy, China, Norway, and Germany."