Statistics Canada announced on Thursday that Canada recorded a trade surplus of CAD3.23 billion in June, compared with a revised CAD1.58-billion deficit in May (originally a CAD1.39-billion gap).

Economists had forecast a deficit of CAD0.68 billion.

According to the report, Canada’s exports surged 8.7 percent m-o-m to CAD53.76 billion in June, as 9 of the 11 product sections posted gains, led by energy products (+22.9 percent m-o-m) and motor vehicles and parts (+14.9 percent m-o-m). Meanwhile, imports declined 1.0 percent m-o-m to CAD50.53 billion in June, with 7 of the 11 product sections recording drops, including consumer goods (-3.7 percent m-o-m) and motor vehicles and parts (-3.8 percent m-o-m).