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Oil rally helps push Canada to biggest monthly trade surplus since 2008 – CBC News

Published

2 years ago

July 7, 2022

Canada’s merchandise trade surplus grew to $5.3 billion in May, which is the largest trade surplus since August 2008, Statistics Canada says.

The agency said Thursday the result was up from a surplus of $2.2 billion in April.

Exports rose 4.1 per cent to $68.4 billion as shipments of energy products gained 5.7 per cent. Canada exported more than $20 billion worth of energy products like oil during the month. That was 29.8 per cent of everything the country exported during the month, an all-time high.

There was booming demand for other commodities, too, including record high exports of Canadian potash.

“Russia is the largest exporter of fertilizers in the world, and amid the conflict in Ukraine, demand for fertilizer products exported by other countries has risen,” Statistics Canada said.

The aircraft and other transportation equipment and parts category gained 34.2 per cent to $524 million, thanks to a surge in sales of business jets to the U.S. market.

Fewer imports

On the other side of the ledger, Canada imported less from the rest of the world, with imports falling 0.7 per cent to $63.1 billion. A 4.7 per cent drop in the importation of consumer goods was the main factor to the downside

Stephen Brown, an economist with Capital Economics, said most of the large trade surplus can be chalked up to booming demand for Canadian commodities like oil, food, and metal and minerals. While he doesn’t expect demand to remain as high as it has been, he does think we won’t see a trade deficit for a while at least.

“We expect commodity prices to remain relatively high [so] we doubt Canada will return to running trade deficits any time soon,” he said.

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N.S. Tory leader won’t ask Poilievre to join campaign |

Published

5 mins ago

November 5, 2024

Anne Joseph

Tim Houston, who is seeking a second term as Nova Scotia premier, said he had no plans to invite Poilievre to join him on the campaign ahead of the Nov. 26 provincial election. He explained the provincial Progressive Conservatives have no formal ties with the Tories in Ottawa — and he made a point of saying he is not a member of the federal party. Experts say it also is because the latest polls suggest Atlantic Canadians have not warmed to Poilievre. (Nov. 5, 2024)

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Clemson coach Dabo Swinney challenged at poll when out to vote in election

Published

7 mins ago

November 5, 2024

Anne Joseph

CLEMSON, S.C. (AP) — It has been a rough few days for Clemson coach Dabo Swinney. First, his 19th-ranked Tigers lost to Louisville on Saturday night, then he was told he couldn’t vote Tuesday at his polling place.

Swinney, whose given name is William, explained that the voting system had locked him out, saying a “William Swinney” had already voted last week. Swinney said it was his oldest son, Will, and not him.

“They done voted me out of the state,” Swinney said. “We’re 6-2 and 5-1 (in the Atlantic Coast Conference), man. They done shipped me off.”

Dabo Swinney had to complete a paper ballot and was told there will be a hearing on Friday to resolve the issue.

“I was trying to do my best and be a good citizen and go vote,” he said. “Sometimes doing your best ain’t good enough. You have to keep going though, keep figuring it out.”

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Fatality inquiry into Alberta boxer’s knockout death recommends better oversight

Published

8 mins ago

November 5, 2024

Anne Joseph

EDMONTON – The judge leading a fatality inquiry into the knockout death of a boxer is recommending changes to how the sport is regulated and how head injuries are monitored.

Timothy Hague, who was 34, competed in a boxing match licensed by the Edmonton Combative Sports Commission in June 2017 when his opponent, Adam Braidwood, knocked him unconscious.

Hague came to and was able to walk to the dressing room, where he vomited, and was then taken to hospital where he underwent surgery for a large brain bleed.

His condition did not improve, care was withdrawn and Hague died two days after the fight.

Justice Carrie Sharpe with Alberta’s provincial court made 14 recommendations, including that combat sports be overseen by a provincial authority instead of a patchwork of municipal bodies and that there be concussion spotters at every event.

She also recommends that if a fighter receives a blow to the head in a technical knockout, they must provide a brain scan to prove they are fit to compete again.

This report by The Canadian Press was first published Nov. 5, 2024.

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