Canada Posts Biggest Trade Surplus Since 2008 As Oil Prices Soar ...Middle East

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Canada Posts Biggest Trade Surplus Since 2008 As Oil Prices Soar
In May, Canada booked its largest trade surplus since August 2008 as the rally in oil prices lifted the share of energy exports of all Canadian exports to a record high, Statistics Canada said on Thursday. Canada's total merchandise exports increased by 4.1 percent in May compared with April, for a fifth consecutive monthly increase. At the same time, imports fell by 0.7 percent. As a result, Canada's merchandise trade surplus with the world widened from US$1.7 billion (C$2.2 billion) in April to US$4 billion (C$5.3 billion in May). This was the…

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