Statistics Canada announced on Tuesday that Canada recorded a trade surplus of CAD1.94 billion in August, compared with a revised CAD0.74-billion surplus in July (originally a CAD0.78-billion surplus).

Economists had forecast a surplus of CAD0.43 billion.

According to the report, Canada’s exports went up 0.8 percent m-o-m to a record CAD54.44 billion in August, as 6 of 11 product sections posted gains with energy products (+5.1 percent m-o-m) rising the most. Excluding this product section, exports decreased 0.4 percent m-o-m. Meanwhile, imports declined 1.4 percent m-o-m to CAD52.51 billion in August, with imports of motor vehicles and parts (-11.1 percent m-o-m) accounting for most of the monthly change in total imports.