13-May-2011

trade-surplus

Canada’s Trade Surplus nearly doubles

+ March trade surplus rose 76% to $627 million vs February.

+ Exports rose 3.5% while imports were up 2.8%.

+ Exports of energy products rose 5% and forestry products rose 10.7%.

+ Exports to countries other than the US rose 7.8%.

Tidbits

+ China’s trade surplus was $11.4 billion, nearly 4x greater than expected, due to stronger exports.

+ German exports rose 7.3% to a record $141.1 billion in March.

+ US CPI rose 3.2% YoY in April, largest gain since October 2008, due to fuel and food.

+ Hong Kong Q1 GDP up 7.2%, much stronger than expected.

+ Greek bonds are now rated the same as Lebanon, Belarus and Georgia.

+ Canada’s Industry Minister Tony Clement said he will summon petroleum industry executives to tell a Commons committee how they set gas prices.

+ US Senate Democrats have introduced a bill that would repeal tax breaks for the five biggest oil companies.