Statistics Canada said that in January of this year, there was a surplus of 496 million dollars in the country’s trade in goods. The surplus has come as imports have fallen to record levels since February 2022.
The boom came after a trade deficit of $86.3 million in December last year. Initial reports indicated a deficit of $31.2 million in the last month of 2023.
Total imports fell 3.8 percent to $6.18 billion in January, Statistics Canada said.
Imports of consumer goods fell by 7.1 percent, leading to a decline in overall imports. Imports of pharmaceutical products decreased by 19 percent. Excluding pharmaceuticals, imports of consumer goods fell 3.8 percent in January.
At the same time, total exports decreased by 1.7 percent to $6,230 million. Exports of metallic and non-metallic minerals decreased by 6.2 percent. Exports of aircraft and other transport equipment and parts fell by 13.9 percent in January.
In terms of volume, imports fell by a total of 4.1 percent in January. Where exports decreased by 1.8 percent.
