PrintBMO Notes Canada's Higher Export Volumes in September
BY MT Newswires | ECONOMIC | 12/12/25 08:17 AM EST08:17 AM EST, 12/12/2025 (MT Newswires) -- The long-awaited September trade data came in even better than Statistics Canada's preliminary estimates, said Bank of Montreal (BMO).
Not only did the trade balance improve from a $6.4 billion deficit to a $200 million surplus versus an estimated $1.25 billion shortfall in the Q3 gross domestic product figures, but volumes were also firmer, noted the bank.
Exports were up 4.9% month over month, while imports fell 3.9% month over month. For Q3, exports increased 3.5% at annualized rate while imports declined 10.8% a.r.
This data is typically volatile and prone to revisions, so BMO cautioned against reading too much into any one report.
Still, the better-than-expected figures suggest some upside risk for a September revision when the October real GDP report is released later this month, added the bank.
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