Canada’s other export powerhouse: gold
Posted: May 8, 2024
Author: Jason Kirby
Source: The Globe and Mail
There’s gold in them thar exports. Lots of it.
The shiny yellow metal doesn’t get nearly the same attention from Canadian policy makers as the energy and automotive sectors do, but exports of gold have soared in recent years and are close to surpassing passenger vehicles to become Canada’s second-largest export commodity.
On Thursday, Statistics Canada credited exports of unwrought gold in the form of high-value shipments of refined gold, as well as transfers of gold assets in the banking sector, with driving roughly half the growth of total exports in February. That lifted Canada’s trade surplus with the world to its highest level since October.