Canada records largest monthly trade surplus with U.S. since 2005 despite convoy blockades

OTTAWA, April 5 (Xinhua) -- Canada's trade surplus with the United States widened from 9.7 billion Canadian dollars (7.8 billion U.S. dollars) in January to 10.3 billion Canadian dollars (8.3 billion U.S. dollars) in February, the largest trade surplus with the United States since December 2005 despite the trucker convoy blockages at some key border crossings, Statistics Canada said Tuesday.

Canada's exports to the United States rose 1.3 percent in February, while imports edged down 0.1 percent. When the average exchange rates of January and February are compared, the Canadian dollar depreciated 0.6 U.S. cents relative to the American dollar, Statistics Canada said.

In late January and February, some key border crossings between Canada and the United States were blocked by protesters, preventing the normal flow of goods between the two countries.

According to Statistics Canada data, when combined, Canada's highway border crossings at the Ambassador Bridge (Ontario), Coutts (Alberta), Emerson (Manitoba), and the Pacific Highway (British Columbia) represent more than one-third of Canada's trade activity by road. Road transport accounts for more than half of Canada's trade with the United States.

In customs basis figures for February, trade activity by road transport at these border crossings fell 8.8 percent compared with February 2021, with the Ambassador Bridge and Coutts crossings posting the largest declines.

However, increased trade activity was observed at other crossings near the ones that were blocked, partly offsetting the decline in traffic. Overall, the blocked border crossings appeared to have had little impact on the aggregate values of Canadian imports and exports with the United States in February, Statistics Canada explained.