OTTAWA, Feb. 10 (UPI) -- Canada's international trade surplus more than doubled to $2.7 billion in December, based on a 4.5 percent surge in exports, Statistics Canada reported Friday.
Merchandise exports rose 4.5 percent to $42 billion while imports increased 0.8 percent worth $39.3 billion on a monthly basis, the agency said.
"The value of exports increased in all sectors, led by machinery and equipment," StatsCan said. "Exports have been trending upwards since July 2011."
Canada's trade surplus with its largest trading partner, the United States, grew from $4.7 billion in November to $5.5 billion in December. Exports for the month rose 5.3 percent to $30.2 billion on higher exports of crude petroleum, aircraft and precious metals, the agency said.
Export trade with other countries was up 2.5 percent to a record high of $11.8 billion while imports declined 2.6 percent to $14.7 billion. Much of the import decline was from the European Union, the report said.
