Canada had recorded a monthly surplus in its international trade after seven months of deficits.
According to the statistics from Canada, the country experienced a trade surplus amounting to $153 million in September after registering a trade deficit amounting to $6.43 billion in August this year.
September was the first month that Canada recorded an excess of trade since the U.S. President Donald Trump placed heavy tariffs on the imported goods and services of Canada.
According to StatsCan, the increase in Canada’s trade surplus with the U.S. by 44 percent was the major factor behind the surplus.
The delay of the September trade data was because the information on the Canadian exports to the U.S. could not be available since there was a 43-day government shutdown in Washington, D.C.
The September surplus greatly improved compared with the trade deficit of U.S. $4.5 billion as projected by the survey of economists conducted by Reuters (TRI).
The September data on the trade impressed the analysts and economists because it indicated that the international trade of Canada has begun to normalize after months of turmoil.
The overall exports of Canada increased by 6.3% to $64.23 billion in September, recovering from the 3.2% decline in August, and were boosted by increased exports in nine of 11 product categories.
The increase in exports of the U.S. was 4.6, and to the non-U.S. countries was 11.218, said Statistics Canada.
In September, total imports were down by 4.1% to $64.08 billion. The American imports fell by 1.7 percent in September, the third consecutive month of declining imports.
The trade surplus of Canada with the U.S. was the highest as of September since February of this year.