Canada records first trade surplus since 2008
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In 2011, Canada recorded its first annual trade surplus since 2008.
Canada's export performance, particularly in the second half of the year, took its annual trade balance to a surplus of $2.3 billion in 2011 from a deficit of $9.0 billion in 2010. Energy products make up a substantial component of Canada's trade balance. Increased exports of energy products contributed a surplus of $60.1 billion to the overall trade balance in 2011.
Canada's trade surplus with the United States increased to $50.0 billion in 2011 from $36.7 billion in 2010. Increased export levels of crude petroleum to the United States in 2011 contributed to the surplus.
Canada's trade deficit with countries other than the United States grew to $47.7 billion in 2011 from $45.7 billion in 2010.
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