Exports and Imports Post Big Gains in December

OTTAWA — It was growth across the board for December, says Statistics Canada.

Both exports and imports posted their highest levels since October 2008, according to Statscan.

Exports grew to $42 billion in December with volumes increasing 4.9 percent. All sectors increased, but machinery and equipment let the charge.

Imports increased to $39.3 billion as volumes rose 1.2 percent, and were led by industrial goods and materials, as well as automotive products.

The increases brought Canada’s trade surplus up from $1.2 billion in November to $2.7 billion in December.

Exports to the U.S. rose 5.3 percent to 30.2 billion, lifted by higher exports of crude pertroleum, aircraft and precious metals, with imports increasing 2.8 percent to $24.7 billion.

As a result, Canada’s trade surplus with the U.S. grew from November’s $4.7 billion $5.5 billion in December.

The only sector not to post gains in December were energy product imports, falling 7.5 percent to $4.3 billion. Volumes, for the second consecutive month, declined 8.1 percent. Lower imports of crude petroleum led the decline, followed by petroleum and coal products.