In April, Canada’s merchandise exports increased 1.6%, while imports edged up 0.3%. As a result, Canada’s merchandise trade surplus with the world widened from $1.8 billion in March to $2.7 billion in April. This was the second consecutive monthly trade surplus, and the largest since January 2025, according to a new report from Statistics Canada.

Following a surge of 10.1% in March, total exports increased 1.6% in April to reach a record high of $75.2 billion. Since the 4.4% decline observed in January, total exports have increased by 19.2%. In April, gains were observed in 9 of the 11 product sections. Energy products (+9.7%), as well as metal and non-metallic mineral products (-17.5%), posted large offsetting movements in April. Excluding these two product sections, exports increased 5.1%. In real (or volume) terms, total exports were up 3.0%, marking a third consecutive monthly increase, said the federal agency.

“Exports of energy products rose 9.7% in April. This followed an increase of 23.4% in March. Both monthly increases were driven by higher prices, which continued to rise in April amid the uncertainty caused by the conflict in Iran. Exports of crude oil (+7.0%) contributed the most to the gain in April, mainly driven by rising prices. Exports of crude oil are estimated for the current reference month, and these estimates are subject to larger revisions during times of high price volatility. Exports of refined petroleum energy products (+37.9%) also increased in April, largely on higher exports of motor gasoline and aviation fuel,” it said.
Statistics Canada said total imports edged up 0.3% in April to reach a record of $72.4 billion. Overall, gains were observed in 6 of the 11 product sections. In real (or volume) terms, total imports were up 0.4%.
“Imports of basic and industrial chemical, plastic and rubber products rose 16.9% and contributed the most to the gain in April. Imports of lubricants and other petroleum refinery products increased 49.0%, mainly because of higher imports of crude oil diluents from the United States. Higher prices also contributed to the increase in imports of this product group in April. Following a 13.7% decrease in March, imports of basic chemicals (+13.8%) were also up in April,” it noted.

The federal agency said exports to the United States rose 4.8% in April, increasing for a third consecutive month. Exports of crude oil and passenger cars and light trucks drove the monthly increase. Meanwhile, imports from the United States were up 1.6%. As a result, Canada’s merchandise trade surplus with the United States widened from $7.8 billion in March to $9.5 billion in April, the largest surplus since February 2025.

Mario Toneguzzi

Mario Toneguzzi

Mario Toneguzzi is Managing Editor of Canada’s Entrepreneur. He has more than 40 years of experience as a daily newspaper writer, columnist, and editor. He was named in 2021 and 2024 as one of the top business journalists in the world by PR News. He was also named by RETHINK to its global list of Top Retail Experts 2024, 2025 and 2026.

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