By Kim Mackrael
OTTAWA--Canada recorded its first trade surplus in more than two years as exports to countries other than the U.S. reached a record high.
Canada posted a trade surplus in November of 526 million Canadian dollars ($397 million), Statistics Canada said Friday. Economists had expected a C$1.6 billion deficit, according to Royal Bank of Canada.
October's trade data were revised to show a deficit of C$1.02 billion, compared with the previous C$1.13 billion estimate.
Canadian exports rose 4.3% to reach C$45.61 billion in November, the highest level since January 2016, led by an increase in exports of metal and non-metallic mineral products. On a volume basis, exports were up 3.5% from the previous month.
Meanwhile, imports grew 0.7% to C$45.09 billion, led by higher imports of energy products. Import volumes fell 0.3%.
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(END) Dow Jones Newswires
January 06, 2017 08:45 ET (13:45 GMT)
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