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Canada Sees Third Consecutive Trade Surplus Amid Sectoral Shifts - Fri Dec 8, 2023

In October, Canada's merchandise trade account marked a third consecutive month of surplus, totaling $3 billion. Despite a marginal 0.1 percent month-on-month increase in exports, six out of 11 sectors saw declines, offset by a notable 15 percent surge in aircraft and transportation equipment. 

Imports, on the other hand, experienced a 2.8 percent month-on-month decrease, with eight sectors declining, including a significant drop of 41.2 percent in imports of unwrought gold, silver, and platinum. Energy products and agricultural goods also saw meaningful declines. 

In terms of volume, imports decreased by 3.2 percent, while exports slightly dipped by 0.1 percent in October. Notably, Canada's trade surplus with the United States expanded for the fourth consecutive month, reaching $12.1 billion.

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