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Canada posts $1.2B merchandise trade surplus for October: Statistics Canada

Gantry cranes tower above container ships being unloaded and loaded at port, in Vancouver, on Thursday, February 10, 2022.Statistics Canada says the country's merchandise trade surplus grew to $1.2 billion in October as exports climbed faster than imports.THE CANADIAN PRESS/Darryl Dyck
Gantry cranes tower above container ships being unloaded and loaded at port, in Vancouver, on Thursday, February 10, 2022.Statistics Canada says the country's merchandise trade surplus grew to $1.2 billion in October as exports climbed faster than imports.THE CANADIAN PRESS/Darryl Dyck Photo by DARRYL DYCK /THE CANADIAN PRESS

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.

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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.