Canada Merchandise trade for January 2021
The Canada trade data came in at 1.41B vs -1.40B estimate. It is the first surplus since 2019
- imports rose 0.9% in January
- exports rose 8.1% in January
- The surplus of C$1.41 billion was the first since 2019
- prior month deficit came in at C$198 billion
- exports were led by energy products which were up 5.9% on rising oil prices. Nonenergy shipments increased 8.5%
- shipments to US rose 11.3% to the highest level since September 2019
- monthly service exports were up 0.5% to $9.3 billion versus a 2.7% increase in imports
