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Export figures reach record level: StatsCan

Published by Brad Fougere on August 06, 2014

Canada’s trade balance rocketed to $1.9 billion in May up from $576 million in April as exports reached record levels according to Statistics Canada.

The $45.2 billion export figure included volumes increase 1 per cent and prices rise 0.2 per cent led as export diversification continued.

Canada’s trade deficit with non-US countries fell to $3.1 billion in June from $4.9 billion in April as trade with the European Union grew 12.1 per cent.

Exports of metal and non-metallic mineral products rose on 10.2 per cent higher volumes to $4.8 billion (up 9.7 per cent from April). Increased unwrought precious metals and precious metal alloys and unwrought nikel and nickel alloys, up 14.8 and 35.8 per cent respectively, also saw higher volumes and were main export growth contributors.

“This is an encouraging trend for those companies looking for signs that we’ve turned a corner in the global economy,” said Jayson Myers, president and CEO of Canadian Manufacturers & Exporters. “The opportunities that exist with trade agreements and these trends should signal companies to start looking for partners and supply chains to help increase their market.”

Found in: Merchandise exports

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