- Prior was +2.09B
- Exports +3.8%
- Imports +2.4%
- Exports to US up 6.4% to record $45.2B
- Surplus with US at $9.8B -- the widest since Jan 2006.
Canadian exports have risen in 5 of the past 6 months. StatsCan explains that covid-19 was responsible for the jump in both imports and exports:
In November, large shipments of COVID-19 medication came into Canada for packaging and labelling. Most of the medication was subsequently exported during the same month, resulting in a boost to both export and import statistics.
Meanwhile, Canadian exports were restrained by floods in British Columbia. However, rising oil prices also contributed to growth in exports, with energy products up 2.8%.
There's a theory that a lack of travel to warmer destinations is boosting the Canadian trade surplus. I'm not sure I buy that but
