Canada Trade Deficit Widens In April


Canada's merchandise imports rose 1.2% in April, while exports edged down 0.2%. As a result, Canada's trade deficit with the world went from $3 million in March to $567 million in April.

Imports rose for a fourth consecutive month to a record high of $40.8 billion. The increase in imports was led by energy products, motor vehicles and parts, and metal ores and non-metallic minerals. Overall, volumes were up 1.5%.

Exports edged down to $40.3 billion, as decreases in metal ores and non-metallic minerals, energy products, and industrial machinery, equipment and parts were partially offset by a large increase in metals and non-metallic mineral products. Overall, prices declined 0.7%, while volumes were up 0.5%.

Imports from the United States increased 1.9% to a record high of $26.2 billion. The gain was led by metal ores and non-metallic minerals, as well as energy products. Exports to the United States grew 1.8% to $30.1 billion. Consequently, Canada's trade surplus with the United States went from $3.8 billion in March to $3.9 billion in April.

Exports to countries other than the United States fell 5.6% to $10.2 billion, as decreases were recorded in most principal trading areas. Imports from countries other than the United States were relatively unchanged in April at $14.6 billion. As a result, Canada's trade deficit with countries other than the United States increased from $3.8 billion in March to $4.4 billion in April.

Canada Trade Deficit Widens In April


Statistics Canada | Duarte Ricardo | duarte.ricardo@tradingeconomics.com
6/4/2013 2:07:05 PM