OTTAWA - Canada's merchandise trade surplus with the world expanded by about $1 billion in January as exports increased at their fastest pace in more than a year.
Canadian companies exported $38 billion worth of merchandise, a 3.6 per cent increase from December after a downward trend that persisted through most of 2007.
Export prices rose 4.2 per cent in constant dollars, while volumes edged down 0.6 per cent in January.
At the same time, the value of merchandise imports rose one per cent to $34.7 billion, the third straight increase.
Prices climbed 1.7 per cent, while volumes slipped 0.7.
As a result, the trade surplus with the world rebounded from a revised $2.3 billion in December, the lowest since November 1998, to $3.3 billion.
The trade surplus with the United States recovered some of its December decline, reaching $6.2 billion, as exports to the United States grew more sharply than imports.
At the same time, the deficit with countries other than the United States narrowed to $2.9 billion, primarily because exports to "all other countries'' rose significantly.
