Canada Swings to Trade Surplus as Oil, Gold Exports Jump.

The article focuses on Canada’s first trade surplus in six months, reaching C$1.8 billion in March 2026, driven by surging exports of gold and crude oil amid global uncertainty linked to the Iran war. Exports rose 8.5%, led by a 24% increase in metal and non-metallic products, particularly gold exports to the UK, and a 15.6% rise in energy exports, with crude oil exports up 18.9%. Imports declined by 1.6%, mainly due to lower consumer goods and pharmaceutical imports. Canada’s trade surplus with the United States widened to C$7.1 billion, while the deficit with non-US countries narrowed to C$5.3 billion. Economists noted that higher global energy prices are boosting nominal trade values but have yet to significantly impact the volume of economic activity. [Extracted from the article]