FX.co ★ Canada Exports RIse in December

Canada’s exports rose 2.6% month over month to C$65.6 billion in December, reversing the decline recorded in November. However, despite the headline increase, exports fell in seven of the eleven product categories. Metal and non-metallic mineral products jumped 18.0%, rebounding from earlier weakness as exports of unwrought gold, silver, and platinum group metals increased sharply, driven by higher shipments to the UK, the US, and Australia. Exports of aircraft and other transportation equipment and parts surged 20.5%, with aircraft exports alone up 26.0% on the back of stronger deliveries to the United States. These gains were partly offset by a 1.0% decline in energy exports. By destination, exports to the US rose 1.1%, while shipments to countries other than the US increased 5.8%, reaching a record high.