Canada sees increased trade surplus in October

Canada's trade surplus rose from 1.4 billion Canadian dollars (1.1 billion U.S. dollars) in September to 2.1 billion Canadian dollars in October as the country's imports rose sharply in motor vehicles and parts as well as energy products, according to Statistics Canada on Tuesday.

Canada's total exports jumped 6.4 percent to 56.2 billion Canadian dollars in October.

While exports increased in eight of 11 product sections, the combined increases in exports of motor vehicles and parts and energy products accounted for nearly 80 percent of the total growth.

The country's exports of motor vehicles and parts surged 30.8 percent in October.

In real or volume terms, Canada's total exports rose 2.8 percent in October.

The exports of farm and fishing and intermediate food products increased 5.6 percent in October. Following two consecutive months of low levels, exports of canola more than doubled in October due to higher exports destined to China, Japan and Mexico.

Meanwhile, Canadian total imports rose 5.3 percent in October to 54.1 billion Canadian dollars. Overall, seven of 11 product sections saw gains in October, with motor vehicles and parts responsible for almost two-thirds of the monthly increase.

The imports of motor vehicles and parts rose 27.2 percent to 8.5 billion Canadian dollars in October.

In real or volume terms, the country's total imports jumped 7 percent.

When international trade in goods and international trade in services were combined, exports increased 5.7 percent to 67.6 billion Canadian dollars in October, while imports were up 4.4 percent to 66.1 billion Canadian dollars.