Canada's Merchandise Trade Surplus Rose Above Expectations in September Thanks to Oil and Gold Exports

08:55 AM EST, 11/04/2026 (MT Newswires) -- Canada's international trade surplus widened to CA$5.4 billion in September from CA$5.0 billion in August as merchandise exports rose 0.2% on the month, while imports fell 0.3%, Statistics Canada said Wednesday. September's surplus was better than the CA$5.0 billion consensus figure in a Bloomberg survey. Increased shipments of crude oil and unwrought gold were the primary contributors to September's export growth, Statistics Canada said. Canada's trade surplus with the United States expanded to CA$12.3 billion in September from CA$12.1 billion in August, as exports to its southern neighbor rose 0.7% monthly and imports increased 0.4%, partly driven by higher shipments of processing units, StatsCan added. Canada's trade deficit with countries outside the US edged down to CA$7.0 billion in September from CA$7.1 billion a month earlier. Motor vehicles and parts accounted for the largest decline in overall imports, extending the trend observed in August.