Canada Trade Surplus

Triples During JanuaryCanada's seasonally adjusted trade surplus in January surged to C$633.1 million, more than three times the December surplus of C$207.5 million, Statistics Canada reported.

The jump in the trade surplus reverses a recent trend, which had seen more than C$900 million cut from the C$1.139 billion surplus recorded in October. (As of March 15, C$1.26 equaled US$1.)

Imports fell 10 percent in January to C$10.111 billion and exports fell 6.1 percent to C$10.744 billion.

Canada's world trade surplus was down C$117.6 million from January 1987 as a 9.6 percent rise in imports to C$892.3 million offset a 7.7 percent rise in exports to C$774.6 million.

The U.S. Commerce Department today will announce the U.S. merchandise trade figures for January.

UK Farm Minister

Blasts Global Subsidies

LONDON - U.K. Agriculture Secretary John MacGregor attacked the spread of farm subsidies, calling it a massive misuse of resources that must be halted in the interests of a more stable trading system that would benefit farmers.

Many governments are supporting levels of food production above market requirements, damaging both the markets and relations between trading countries, Mr. MacGregor said in a speech in Washington, the text of which was released here. However, he admitted that the ending of subsidies would involve difficult political compromises.

Mr. MacGregor said the U.S. government's objectives for the Uruguay Round of negotiations under the General Agreement on Tariffs and Trade will clearly present major difficulties for a large number of countries as well as for U.S. milk and beef producers. The United States has called for the phasing out of all farm subsidies by 2000.

Exports to Bolster

South Korean Economy

SEOUL, South Korea - Brisk exports will help South Korea's economy to grow at least 8 percent in real terms this year, the Economic Planning Board said Wednesday in a revised economic blueprint.

The revised blueprint, completed at an economic ministers meeting, forecast that South Korea's gross national product would swell to US$145 billion, up 8 percent from last year.