Trade
Record-High Gold Exports Drive Canada’s Trade Surplus Wider
- Canada boosts high-value shipments of gold in banking sector
- Report helps explain strong February GDP estimate: economist
A display of gold coins during the Prospectors & Developers Association of Canada (PDAC) conference in Toronto.
Photographer: Christopher Katsarov Luna/BloombergThis article is for subscribers only.
Canada’s merchandise trade balance recorded its largest surplus since October, driven by a strong increase in gold shipments to Switzerland and the UK.
The country’s trade surplus widened to C$1.39 billion ($1 billion) in February, from C$608 million a month earlier, Statistics Canada reported Thursday in Ottawa. Economists had been expecting exports to exceed imports by C$680 million in February.