Canada exported $5.4 billion worth of motor vehicles and parts in January, Statistics Canada reported Thursday—a 21 per cent decrease over the previous month that brings that category to its lowest level since September 2021. Overall, merchandise exports fell by 4.7 per cent and imports by 1.1 per cent in January over the previous month. (The Logic)

Talking point: Exports of passenger cars and light trucks fell the most at 33 per cent. The federal statistics agency said the switch to new models produced in Canada that month led to longer-than-usual stoppages. That was also behind imports of vehicle engines and parts falling by eight per cent. Meanwhile, Canada’s exports outside the U.S. were down 6.5 per cent in January after having reached a record high in December. The agency said this was mostly due to Canada shipping less gold, where prices are sky-high, to the United Kingdom.