Canada's trade surplus hits $2.7B in April as exports soar to record highs

Canada’s trade performance showed strong improvement in April 2025, with a merchandise surplus of $2.7 billion. This marks the second straight month of surplus and the largest since January. Economists suggest trade may now support growth after a slow start to the year. Exports reached a record high of $75.2 billion in April, climbing 1.6% from the previous month. Energy products led the increase, with crude oil exports playing a major role. Prices for these goods rose sharply, pushing energy exports up by 9.7%.

Imports also grew, but at a slower pace. Total imports edged up 0.3% to $72.4 billion, helped by higher demand for basic and industrial chemicals. Meanwhile, metal and non-metallic mineral products saw a decline in exports, though this was offset by gains in other sectors. The surplus follows a period where trade acted as a drag on the economy. If sustained, this trend could ease some financial pressures caused by the ongoing energy crisis.

The April figures suggest a shift in Canada’s trade position, with exports hitting new highs. A continued surplus may provide relief for both households and government budgets. Analysts will watch whether this momentum carries into the coming months.