Canada’s Trade Surplus Stayed Strong in May –Three Major Influences on Exports
Abstract:
Canada’s foreign trade surplus in goods stayed strong at $66.4 billion annualized in May 2008, according to the latest numbers from Statistics Canada. Export growth (+5.4%) month to month was well ahead of imports (+3.9%). The three major influences on Canada’s exports through 2007 to date are discussed in this report by CanaData chief economist Alex Carrick. In most instances, there are real volume changes as well as some large price adjustments (e.g., for the world price of oil).
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Canada’s foreign trade surplus in goods stayed strong at $66.4 billion annualized in May 2008, according to the latest numbers from Statistics Canada. Export growth (+5.4%) month to month was well ahead of imports (+3.9%). The three major influences on Canada’s exports through 2007 to date are discussed in this report by CanaData chief economist Alex Carrick. In most instances, there are real volume changes as well as some large price adjustments (e.g., for the world price of oil).