Canada Swings to Trade Surplus as Oil, Gold Exports Jump (2)

Canada posted its first trade surplus in six months due to surging exports of gold and oil in March as the Iran war drove up global uncertainty.

A strong increase in exports and a decline in imports resulted in a C$1.8 billion ($1.3 billion) trade surplus, which followed a C$5.1 billion deficit the previous month, Statistics Canada reported on Tuesday.

Economists surveyed by Bloomberg expected the deficit had shrank to C$2.5 billion in March.

March marked the first trade surplus since September 2025, as Canadian resource exporters reaped a windfall from the conflict in the Middle East.

The data were ...