There were a number of articles released late last week about different countries around the globe and their states of importing and exporting – looking at what was said about the state of Canadian importing and exporting habits, it’s good to note that things are looking good for Canada.
Canada’s numbers themselves are extremely positive and what we see happening with the US leaves room for great potential for Canada in the future. Most notably, our trade surplus with the US has dropped to $1.1 billion, which fell $1.7 billion from what it was in September.
We are seeing a rise in the exporting of commodities and resources – in general, there was a 13.7% increase of exports of industrial goods and materials. Two very important areas where we saw a very large rise in exports was gold (45% higher) and forestry. It is important to realize that the same amount of the forestry exports went to the Asian market as it did to the US – this could potentially be greatly beneficial to reduce our dependence on the US market.
Lastly, as far as importing goes, we are seeing most of our imports coming from machinery and equipment – making it look like Canadian businesses are investing in their companies right now.
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