Canada's trade surplus rises to $1.2 billion in October

By Ovunc Kutlu

ISTANBUL (AA) - Canada's trade surplus increased to $1.2 billion in October, according to the country’s statistical body on Tuesday.

Canada's merchandise trade surplus with the world widened from $607 million in September to $1.2 billion in October, Statistics Canada said in a statement.

"Total exports rose 1.5% to $67 billion in October. Gains were observed in 8 of the 11 product sections," it added.

Consumer goods exports were the largest contributor to the overall increase in exports during October with a 9.7% gain. Pharmaceutical products contributed most to the gain with a 20.7% increase, led by higher exports of medicinal products to the US, it said.

For the second consecutive month, exports of farm, fishing and intermediate food products rose with a sharp gain of 10.2% in October to a record of $5.5 billion.

"Exports of aircraft and other transportation equipment and parts advanced 17.5% to $2.4 billion in October, the highest level observed since January 2021," according to the statement.