Canada’s trade surplus surged to its second-highest level on record in December, led by soaring natural gas exports to the United States.

Statistics Canada said the country’s trade surplus with the rest of the world grew 11.6% to $7.69 billion.

Exports rose 3.9% to a record $41.3 billion; imports climbed 2.3% to $33.6 billion as the higher Canadian dollar made foreign goods cheaper.

The hike in exports was mostly due to an 11.2% increase in energy exports. Auto exports fell.

“Excluding energy, exports would have grown at only half the pace they did,” Statistics Canada said. “Energy products were a driving force behind export gains in eight of the 12 months of 2005.”

For all of 2005, StatsCan said the country’s trade surplus with the United States grew to $110.9 billion. The bilateral trade deficit with China deepened to $22.4 billion.

http://www.statcan.ca/Daily/English/060210/d060210b.htm