Canada’s merchandise trade surplus widened in April as higher oil prices pushed exports to a record level, outweighing a sharp decline in gold shipments.
The merchandise exports rose 1.6 percent to a record $75.2 billion in April, while imports edged up 0.3 percent to $72.4 billion. The trade surplus increased from $1.8 billion in March to $2.7 billion, the largest since January 2025.
Exports have now risen 19.2 percent since January, when they fell 4.4 percent. Export volumes increased 3.0 percent in April, marking a third consecutive monthly gain.
Energy products led the increase. Exports in the sector rose 9.7 percent after climbing 23.4 percent in March. Higher oil prices drove much of the gain as markets reacted to uncertainty surrounding the conflict in Iran.
Crude oil exports increased 7.0 percent, while exports of refined petroleum products jumped 37.9 percent, supported by stronger shipments of gasoline and aviation fuel.
Agricultural exports also strengthened. Exports of farm, fishing and intermediate food products rose 8.9 percent, reaching their highest level since January 2025. Wheat exports climbed 31.9 percent, helped by larger shipments to China. Exports of crude canola oil to the United States also increased.
The auto sector posted another month of growth. Exports of motor vehicles and parts rose 5.9 percent, including a 10.0 percent increase in passenger cars and light trucks. Statistics Canada linked the increase to higher vehicle production in Canada.
Exports of industrial machinery and equipment, aircraft and transportation equipment, and chemical and plastic products also moved higher during the month.
The overall increase in exports was partly offset by a sharp decline in metals and minerals. Exports of metal and non-metallic mineral products fell 17.5 percent. Exports of unwrought gold, silver and platinum group metals dropped 25.5 percent, mainly because of lower gold shipments to the United Kingdom.
Imports reached a record $72.4 billion in April, although growth was modest.
Imports of chemical, plastic and rubber products rose 16.9 percent. Higher imports of petroleum refinery products and crude oil diluents from the United States accounted for much of the increase.
Imports of computers and computer peripherals climbed 13.2 percent to a record high. Statistics Canada said imports of processing units from Ireland for use in data centres contributed to the gain.
Meanwhile, imports of metal and non-metallic mineral products fell 12.9 percent. Imports of unwrought gold, silver and platinum group metals declined 27.5 percent as gold prices fell and purchases from foreign suppliers slowed.
Trade with the United States remained the main source of Canada’s surplus.
Exports to the U.S. rose 4.8 percent in April, the third straight monthly increase. Crude oil and vehicle exports accounted for much of the gain. Imports from the U.S. increased 1.6 percent.
Canada’s trade surplus with the United States grew from $7.8 billion in March to $9.5 billion in April, the largest since February 2025.
Trade with countries other than the United States moved in the opposite direction.
Exports to non-U.S. markets fell 4.8 percent after reaching a record high in March. Lower gold exports to the United Kingdom accounted for much of the decline.
One exception was China. Canadian exports to China reached a record $3.8 billion in April, supported by higher shipments across several product categories, including agricultural products.
Imports from countries other than the United States fell 1.5 percent. Lower imports from China and Germany were partly offset by higher imports from Mexico. Canada’s trade deficit with non-U.S. countries widened from $6.0 billion to $6.8 billion.
Statistics Canada also revised March trade figures higher. March exports were revised up from $72.8 billion to $74.0 billion, while imports were revised from $71.0 billion to $72.2 billion.
Including services, Canada’s total exports rose 1.0 percent to $95.8 billion in April. Imports increased 0.5 percent to $92.9 billion. The combined trade surplus grew from $2.3 billion in March to $2.8 billion in April.