February 10, 2012 / 1:37 PM / 6 years ago

December trade surplus hits three-year high

(Reuters) - Canada’s trade surplus unexpectedly grew to a three-year high of C$2.7 billion ($2.7 billion) in December from November, as exports increased in all sectors, Statistics Canada said on Friday.

Exports to the United States rose 5.3 percent in December to C$30.2 billion, their highest level since October 2008, on sales of crude oil, aircraft and precious metals. Imports from Canada’s largest trading partner also posted their highest level in over three years.

Canadian exports to countries other than the U.S. also reached a record high in December at C$11.8 billion. Imports from these countries dropped 2.6 percent in the month, mainly due to fewer purchases from the European Union.

NOTE: Analysts surveyed by Reuters had on average forecast a trade surplus of $550 million in December.

($1=$1.00 Canadian)

Reporting by Ora Morison; Editing by Louise Egan

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