Canada just posted its fattest trade surplus in over a year, and you can thank crude oil for most of it.
The country’s merchandise trade surplus widened to C$2.7 billion in April 2026, up from C$1.8 billion in March. That’s the largest gap since January 2025 and the second consecutive monthly surplus.
Energy products are carrying the team
Total merchandise exports hit a record C$75.2 billion in April, climbing 1.6% from the previous month. The star of the show was energy products, which surged 9.7% month-over-month.
Crude oil exports alone rose 7.0% in value. But the real eye-catcher was refined petroleum products, which jumped a staggering 37.9%.
