Canada posts $1.2-billon merchandise trade surplus for October

OTTAWA — Statistics Canada says the country’s merchandise trade surplus grew to $1.2 billion in October as exports climbed faster than imports.

The result compared with a revised surplus of $607 million in September compared with its earlier reading of a surplus of $1.1 billion.

The agency says total exports rose 1.5 per cent to $67 billion in October as exports of consumer goods gained 9.7 per cent to $7.7 billion.

Exports of farm, fishing and intermediate food products increased 10.2 per cent in October to a record $5.5 billion, boosted by exports of canola and wheat.

Meanwhile, total imports rose 0.6 per cent to $65.8 billion in October as imports of motor vehicles and parts gained 4.6 per cent to $10.3 billion.

In volume terms, total exports rose 0.1 per cent in October, while imports in volume terms fell 0.9 per cent.