Canada posts surprise trade surplus

Canada on Tuesday posted a surprise trade surplus of Can$710 million (US$622 million) in September.

Analysts were expecting a deficit following a revised Can$463 million deficit in August.

Imports fell in the month to Can$44.1 billion, led by crude oil and crude bitumen.

Imports of unwrought precious metals and precious metal alloys, unwrought iron, steel and ferro-alloys, basic and semi-finished ferrous metal products, unwrought copper and copper alloys also dropped.

Imports of consumer goods fell from a record high the previous month as well.

Imports of industrial machinery, equipment and parts, and motor vehicle engines and parts, meanwhile, rose to a record high Can$4.4 billion.

Canadians also bought more foreign audio and video equipment in September.

Exports rose to Can$44.8 billion with increased foreign sales of passenger cars and light trucks, pharmaceutical and medicinal products, meat and other foods.

Less wheat, canola, aircraft, ships, buses and locomotives were exported.