Figures released Tuesday by Statistics Canada show the country Canada posted a third-consecutive monthly trade surplus in January for the first time in more than two years as exports in the crucial auto sector rebounded
The $807-million surplus slightly exceeded analysts' forecasts of a $700-million positive balance. The nation's number crunchers said their revised December's surplus was sharply lower to $447 million from an initial $923 million.
The last time Canada recorded trade surpluses for three months in a row was over the summer of 2014.
In January, exports rose by 0.5% while volumes expanded by 1%
Exports of motor vehicles and parts rose by 7.7% after falling by 6.7% in December while shipments of canola jumped by 38.4% on demand from China. Imports slipped by 0.3% on lower imports of metal and non-metallic mineral products.
Exports to the United States, accounting for 74.6% of all Canadian exports in January, grew by 2.3% while imports rose by 0.3%.
As a result, Canada's trade surplus with its southern neighbour grew to $4.52 billion from $3.82 billion in December.
