Statistics Canada reports merchandise $762-million trade surplus in May

OTTAWA — Statistics Canada says the country posted a $762-million international merchandise trade surplus in May as the auto sector helped boost exports to a record level.

Economists had expected a deficit of $1.5 billion for the month, according to Thomson Reuters Eikon.

The surplus came as exports rose 4.6 per cent to a record $53.1 billion in May.

Exports of motor vehicles and parts were up 12.4 per cent for the month as exports of passenger cars and light trucks jumped 17.8 per cent.

Meanwhile, total imports rose 1.0 per cent to $52.3 billion in May.

In volume terms, exports increased 4.0 per cent and imports were up 1.2 per cent.

The Canadian Press