Canada trade surplus rises to C$5.4bn in September

Canada's trade surplus rose to CAN$5.4 billion ($3.9 billion) in September, helped by higher oil exports, Statistics Canada said Wednesday.

The surplus increased from CAN$5 billion in August. Statistics Canada said higher energy prices caused by the Iran war raised the value of Canadian crude exports, including oil sales to the United States.

Outside oil, exports of several products fell, including electronic equipment, industrial machinery and motor vehicle parts. Statistics Canada said several products in those categories were targeted by new tariffs in the United States.

US-Canada trade is set to remain in focus after US President Donald Trump's Republican Party suffered a comprehensive defeat in midterm elections on Tuesday. Some Canadian leaders had voiced hope that Democrats would push for an easing of the trade war that has hit Canada's economy.

Prime Minister Mark Carney, who walked away from trade talks with Trump in August, has sounded more optimistic in recent days, citing new momentum in negotiations with Washington.