Canada's trade surplus widens to $5.4 billion in September

Canada's merchandise exports edged up 0.2% in September 2026, while imports decreased 0.3%. As a result, the merchandise trade surplus with the world widened from $5.0 billion in August to $5.4 billion in September, Statistics Canada reported on 4 November 2026. Figures are in Canadian dollars (Statistics Canada, The Daily, 4 November 2026).

Key figures, September 2026

• Merchandise trade surplus: $5.4 billion, from $5.0 billion in August
• Exports: +0.2%; down 4.0% in real (volume) terms
• Imports: −0.3%; down 2.5% in real terms
• Surplus with the United States: $12.3 billion, from $12.1 billion
• Deficit with other countries: $7.0 billion, from $7.1 billion
• Goods and services combined: surplus of $5.7 billion, from $5.4 billion

What moved

Exports of energy products rose 8.2%, led by crude oil and bitumen (up 10.2%, on higher prices), and exports of metal and non-metallic mineral products rose 8.6%, with unwrought gold and other precious metals up 16.8%. Excluding these two sections, exports fell 5.6%, and 8 of the 11 product sections declined. On the import side, motor vehicles and parts fell 9.1%, a second monthly drop, while electronic and electrical equipment reached a record.

Revisions and next release

August exports were revised to $78.4 billion from $77.9 billion, and imports to $73.5 billion from $73.7 billion. In the third quarter as a whole, the merchandise surplus was essentially unchanged at $11.2 billion. October data are scheduled for 8 December. The US figures for September are in US trade deficit narrows to $105.0 billion. Live prices: USD/CAD, and for the basics, how to trade USD/CAD.