Thursday, November 10, 2011

Canada's First trade surplus in 9 months

From a half billion trade deficit in August, Canada has swung to a $1.2 billion surplus, and its not only prices that are at the root cause of the increase in exports, volume were also up.  Energy lead the way +11.3%, of which 8% was price induced, the balance was volume.  Industrial goods were up 3.4% and agricultural and fishery was up 9.4% -- with the higher volume since 2008.

On the other side of the equation imports were down (aerospace -- a very volatile segment -15%), but it remains that import volumes were down.  September is a place holder in view of the global market tensions.  The Financial Post this morning reports that the Bank of Canada could easily reduce interest rates next year.

Overall a good report.

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