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Canada posts trade surplus due to slow auto sector

·1-min read
Canada saw a trade surplus in April

Canada posted a trade surplus in April as imports and exports of merchandise both declined, largely because of slumping trade in motor vehicles and parts, authorities said.

The slump was mainly due to production shutdowns in the auto assembly industry in April as a result of the global shortage of semiconductor chips, the agency said.

Canada went from a trade deficit of Can$1.3 billion ($1.08 billion) in March to a surplus of Can$594 million in April.

In April, Canada's merchandise imports fell 4.7 percent to Can$49.6 billion. It was the biggest percentage drop since April of last year.

Exports fell by 1.0 percent to Can$50.2 billion.

Imports of motor vehicles and parts decreased 22.1 percent in April, while exports of these products fell by 18.1 percent.

Canada's trade surplus with the United States, its top trading partner, widened from Can$4.2 billion in March to Can$6.4 billion in April.

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