Canadian merchandise exports on the rise

Canada's merchandise exports on the rise

DAY

After declining in recent months, Canada's merchandise exports rose 1.3% to $66.4 billion in September, according to Statistics Canada. 

In the space of a month, Canada's merchandise trade surplus with the world doubled from $550 million in August to $1.1 billion in September 2022.

Agricultural and fishing products, among others, contributed more to this overall increase. Wheat exports, which had fallen slightly, in turn recorded a strong increase (+65.2%) during the month of September.

In addition, wheat production should increase by more than 50% during the 2022-2023 crop year, news that will no doubt please Canadian producers.

Total imports also increased by 0.4% in September to more than $65 billion.

Due to soaring prices for pharmaceuticals, including COVID-19 and influenza vaccines, imports of consumer goods rose 3.7% in country.