Canada Trade Surplus Jumps On Auto and Lumber Exports
March 31, 2011
OTTAWA -- Canada's trade surplus rose in May to a record 4.11 billion Canadian dollars (US$2.99 billion), fueled by strong exports of automobiles and lumber to the U.S., the government statistics agency said. In April, Canada's trade surplus totaled a revised C$3.10 billion. Exports rose 2.9% in May from April to a record C$22.41 billion. Lumber shipments were up 21.1% in May. Exports of cars and trucks increased 11.3% as auto production picked up following a resumption of operations at two U.S. brake plants that were hit by strikes this spring. The work stoppage had disrupted operations at Canadian auto plants. Imports declined 2.1% to C$18.30 billion in May, partly because of lower purchases of foreign machines and consumer goods. The U.S. took 84% of Canada's exports in May and supplied 76% of Canada's imports. Canada's trade surplus with the U.S. rose to a record C$4.94 billion in May from C$3.35 billion in April.
