Canadian January trade balance +1.92B vs -0.06B expected | Forexlive

• Prior was -0.16B (revised to +1.2B)
• Exports +67.02B vs +62.97B prior
• Imports +65.10B vs +63.13B prior
• Trade deficit ex-USA $7.1B vs $7.2B prior
• Surplus with USA $9.0B vs $8.4B prior

This is a positive surprise and the best reading since June 2022 and comes with a solid positive revision to the prior. The increase was widespread with all exports increasing except energy with total exports ex-energy hitting an all-time high of $51.6B. Exports of farm fishing and intermediate foods hit a record and motor vehicles/parts rose to the highest since May 2019.