Statistics Canada reported that Canada recorded a goods trade surplus of C$2.72 billion in April, up from C$1.75 billion in March. The April surplus is the largest monthly excess since January 2025. On a monthly basis, total merchandise exports rose 1.6% while imports edged up 0.3%.
Energy exports were a major contributor to the improved external position, increasing 9.7% in April. Crude oil shipments rose 7.0% as prices continued to climb amid uncertainty tied to conflict in Iran. Overall goods exports reached a record C$75.2 billion in the month.
Farm, fishing and intermediate food product exports also posted strong growth, increasing 8.9% in April. Wheat shipments were up 31.9%, a move that Statistics Canada attributed in part to higher volumes destined for China.
Not all categories contributed positively. Metal and non-metallic mineral product exports declined 17.5% in April. Within that group, exports of unwrought gold, silver and platinum group metals fell 25.5%, driven by lower gold shipments to the United Kingdom.
On the import side, several categories registered significant monthly increases. Imports of basic and industrial chemical, plastic and rubber products rose 16.9%, making the largest single contribution to the monthly import gain. Imports of lubricants and other petroleum refinery products surged 49.0%, reflecting higher purchases of crude oil diluent from the United States. Imports of computers and computer peripherals climbed 13.2%, reaching a record high.
Trade with the United States remained a dominant factor in Canada’s external accounts. The surplus with the United States widened to C$9.5 billion in April from C$7.8 billion in March, the largest bilateral surplus since February 2025. Exports to the United States increased 4.8% while imports from the United States rose 1.6%.
The April figures show simultaneous strength in energy and selected agricultural exports, alongside notable swings in metals and several import-intensive industrial categories. The monthly data reflect both price and volume effects across commodity and manufactured goods sectors.
Data snapshot
- Trade surplus: C$2.72 billion in April (C$1.75 billion in March)
- Total merchandise exports: C$75.2 billion (record high)
- Exports - energy products: +9.7%; crude oil shipments: +7.0%
- Exports - farm, fishing and intermediate food products: +8.9%; wheat shipments: +31.9%
- Exports - metal and non-metallic mineral products: -17.5%; unwrought precious metals: -25.5%
- Imports - basic and industrial chemical, plastic and rubber products: +16.9%
- Imports - lubricants and other petroleum refinery products: +49.0%; computers and peripherals: +13.2% (record high)
- Trade with the United States - surplus widened to C$9.5 billion; exports +4.8%, imports +1.6%