A surge in energy exports helped Canada post an unexpected trade surplus of C$1.246 billion (US $1.221 billion) in September, the first of its kind since January 2011, Statistics Canada data indicated on Thursday. Market operators had predicted a deficit of C$570 million after a revised C$487 million deficit in August.
Exports leaped by 4.2 percent on the back of an 11.3 percent increase in shipments of energy products. Exports of petroleum and coal rose 36.4 percent to their highest level since July 2008 as prices soared and refineries reopened after shutdowns for maintenance and expansions. Overall exports shrank by 0.3 percent from August, pulled lower by a 3.3 percent drop in machinery and equipment. Imports of automotive products fell by 5.5 percent. Exports to the United States, by far Canada's top trade partner, grew by 5.0 percent, while imports fell by 1.0 percent. The bilateral trade surplus increased to C$4.36 billion from C$2.79 billion in August.
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