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Canadian Exports Finished 2010 with 10.8 percent Surge to U.S.

03/09/2011
The improving U.S. economy is positively affecting one of America's key trading partners - Canada. Canadian exporters finished 2010 with their best business month in nearly 30 years. December 2010 also marked exporters' greatest trade surplus with the United States since the recession began.

Statistics Canada finds that December exports from Canada to the rest of the world rose 9.7 percent and represented a $3 billion cushion. Canada's exports to the United States increased by 10.8 percent. The United States is Canada's top trading partner.

"Stimulus, plus higher growth on the consumption side and America's success in exporting to the rest of the world, have contributed to a momentum in the U.S. that, I believe, Canadian exporters are going to capitalize on," said Peter Hall, vice president and chief economist at Export Development Canada. "It's going to be good for overall world growth as well."

A 25 percent rise in energy sales led Canada's export surge.

U.S. exports performed well in December 2010, too. Imports still outperformed exports, but U.S. exporters had their best month since July 2008, signaling demand from China and other emerging markets and continued economic recovery.

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