OTTAWA, Aug 6 Reuters Canada recorded a surprise trade surplus of C638 million 461 million in June, data showed on Tuesday, mainly led by a jump in shipments of crude oil from the recently expanded Trans Mountain Pipeline.

A surge in exports of gold also boosted exports and, together with energy products shipments, helped exports overtake imports for the first time in four months, Statistics Canada said.

Analysts polled by Reuters had forecast a C1.84 billion trade deficit. May39;s trade deficit was revised down to C1.61 billion from a preliminary C1.93 billion deficit.

Total exports jumped 5.5 in June, led by crude oil and gold exports, while imports were up 1.9, driven by cars and light trucks, data showed. By volume, exports rose 3.8 in June, while imports increased by 1.3.

After 12 years and C34 billion in costs, Canada in May commissioned the Trans Mountain Pipeline expansion project TMX, which unlocked the AsiaPacific market for local crude oil producers.

They are shipping more through the Trans Mountain pipeline into AsiaPacific, which is really positive, said Prince Owusu, senior economist with Export Development Canada.

Exports of energy products, which account for over a fifth of all exports from Canada, rose 11.7. While this was aided by higher prices, Statscan said the increased volume of crude exports was the biggest contributor to the overall increase.

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