By Canadian Press

Statistics Canada says merchandise trade surplus $708 million in December

Feb 5, 2025 | 6:15 AM

OTTAWA — Statistics Canada says the country’s merchandise trade surplus with the world was $708 million in December.

The result compared with a revised deficit of $986 million in November and marked the first merchandise trade surplus since February 2024.

The agency says exports rose 4.9 per cent to $69.5 billion in December.

Exports of energy products jumped 9.5 per cent, posting the largest increase in December, as higher prices for crude oil drove an 11 per cent growth in crude exports.

Exports of metal and non-metallic mineral products rose 9.2 per cent to a record high of $10 billion, helped by a 63.3 per cent increase in unwrought nickel and nickel alloys, along with a 35.6 per cent increase in waste and scrap of metal exports.

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Meanwhile, total imports rose 2.3 per cent to $68.8 billion in December, driven by an 8.7 per cent increase in metal and non-metallic mineral products, a five per cent boost in industrial machinery, equipment and parts, and a 4.7 per cent gain in consumer goods.

This report by The Canadian Press was first published Feb. 5, 2025.

The Canadian Press