OTTAWA – Canada’s food trade surplus hit a record $3 billion during the first half of the year as Canadian agricultural exports continue to soar.
Agriculture Canada reported last week that the value of exports during the six months ending June 30 hit a record $9.361 billion.
It was a 9.9 percent jump over 1995 levels, led by a 17 percent increase in the value of exports to the U.S.
Meanwhile, the value of food imports fell slightly during the period to $6.4 billion.
The half-year totals, if maintained through the second half, would put Canada within range of meeting this year or next the official trade target of $20 billion in exports by the end of the decade.
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Agriculture Canada says the greatest gains in exports this year have been in Manitoba, which recorded a 17 percent increase to $1 billion.
Ontario was the largest provincial exporter, with sales abroad of $2.5 billion. Saskatchewan followed at $2.2 billion.
The United States remains Canada’s largest market, absorbing 52 percent of all food exports. The Americans bought almost $1 billion worth of live cattle and swine, more potatoes, whiskey, beer and canola.
During the six months, Canada recorded a food trade surplus of $1.1 billion with the U.S. It also was in the black with Japan, China and the European Union.
It ran small trade deficits with Australia, New Zealand, Chile and Colombia.
