Canada sees $1.2B trade surplus in 4th quarter

By Ovunc Kutlu

ISTANBUL (AA) - Canada posted a $1.2 billion surplus of trade in goods and services balance in the fourth quarter of 2023, its statistical agency said Wednesday.

The amount is a $3.2 billion increase from a deficit of $2 billion recorded in the third quarter of last year, while exports and imports of both goods and services increased during the fourth quarter.

Exports of goods rose by $2.9 billion to $195 billion in the October-December period, Statistics Canada said in a statement.

"Exports of energy products led the increase in exports, as they were up by $5.3 billion, mainly on higher export volumes of crude oil," it added.

The trade in services deficit narrowed by $0.6 billion to $1.8 billion in the fourth quarter, according to the agency.

"The investment income balance went from a slight deficit in the third quarter to a slight surplus of $112.0 million in the fourth quarter," said the statement.