UPDATE-Commodities boost Canada’s trade surplus in January

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OTTAWA, March 11 (BestGrowthStock) – Canada’s trade surplus grew
more than expected in January to C$799 million ($776 million)
as higher prices for commodities such as gold boosted exports,
while imports fell, Statistics Canada said on Thursday.

January’s surplus was the largest since March 2009,
according to Statscan’s revised data which showed a C$75
million surplus in December instead of a C$246 million
deficit.

Analysts in a Reuters poll had forecast, on average, a
surplus of C$100 million.

Exports climbed 0.5 percent in January to C$33.02 billion
while imports fell 1.7 percent to C$32.22 billion.

The pace of growth in exports slowed, however. Export
volumes fell 0.3 percent on slower sales of autos as well as
machinery and equipment. But that was offset by a 0.8 percent
jump in prices, led by industrial goods and materials which
includes precious metals, aluminum and alloys.

Canada’s trade surplus with the United States narrowed
slightly to C$4.1 billion from C$4.2 billion in December due to
lower auto sales.

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($1 = $1.03 Canadian)
(Reporting by Louise Egan; Editing by James Dalgleish)

UPDATE-Commodities boost Canada’s trade surplus in January