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Canada trade surplus hits 15-month high in April on soaring crude prices
Higher oil prices lifted energy exports 9.7% and crude shipments 7.0%, while imports rose only 0.3%, Statistics Canada said.
- Statistics Canada reported that Canada's merchandise trade surplus grew to $2.7 billion in April, a 15-month high, as higher oil prices pushed exports to a record $75.2 billion.
- Crude oil prices, pushed higher by the conflict in Iran, helped propel the surplus by 55 per cent. Crude oil exports alone rose 7.0 per cent, contributing the most to the gain.
- While energy exports climbed, a 17.5 per cent drop in metal and non-metallic mineral products offset total gains. Imports simultaneously reached a record $72.4 billion, rising 0.3 per cent.
- The United States remains the dominant market, accounting for 69.2 per cent of all trade, with exports growing 4.8 per cent to $51.98 billion. Exports to China reached a record $3.84 billion.
- This result surpassed the $2.57 billion surplus forecasted by Analysts polled by Reuters. It follows a revised March surplus of $1.75 billion, marking a significant shift in Canadian trade performance.
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Canada recorded a trade surplus of $2.7 billion in April, the largest since January 2025, due to oil prices
·Montreal, Canada
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The country's trade surplus amounted to 2.7 billion in April, with rising oil prices helping to propel exports to record high levels.
·Montreal, Canada
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The Toronto Star+5 Reposted by 5 other sources
Merchandise trade surplus $2.7 billion in April as oil prices help boost exports
OTTAWA - Statistics Canada says the country's merchandise trade surplus grew to $2.7 billion in April as higher oil prices helped boost exports to a record high.
·Toronto, Canada
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Coverage Details
Total News Sources20
Leaning Left8Leaning Right1Center4Last UpdatedBias Distribution61% Left
Bias Distribution
- 61% of the sources lean Left
61% Left
L 61%
C 31%
Factuality
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