Canada's export volumes surpass pre-Covid levels

June 08, 2023


Ottawa, June 8 (AGENCY): 

Canada's export volumes in April reached an all-time high and surpassed pre-Covid pandemic levels, the national statistical agency announced,

Statistics Canada said that following two consecutive monthly declines, total exports rose 2.5 per cent in April.

In real, or volume, terms, total exports were up 2.8 per cent, the statistical agency said.

According to the agency, exports of metal and non-metallic mineral products increased 13.6 per cent, contributing the most to the growth in exports in April.

Exports of unwrought gold hiked 46 per cent, posting the largest increase, on both higher volumes and prices.

The gain largely reflected higher transfers of gold assets from Canadian financial institutions to the US.

These increases came amid a context of economic uncertainty, when investors tend to favour safe-haven metals such as gold and silver, Statistics Canada said.

Meanwhile, imports edged down 0.2 per cent. As a result, Canada's merchandise trade surplus with the world widened to C$1.9 billion in April.

When international trade in goods and services are combined, exports increased 2 per cent to C$79.3 billion in April, while imports edged down 0.1 per cent to C$78.5 billion.

As a result, the country's trade balance with the world went to a surplus of C$779 million in April, Statistics Canada said.


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