Imports hit record high of $40.9-billion in June, exports rose to $39.1-billion, agency says
Ottawa—Canada’s trade deficit rose to $1.8-billion in June compared with $954-million in May, fueled by more imports of machinery and equipment, according to Statistics Canada.
The agency says imports rose 2.3 per cent while exports edged up 0.2 per cent in June.
Imports hit a record high of $40.9 billion in June with six of seven sectors registering gains, the main contributor being the machinery and equipment sector, the agency reported.
Exports rose to $39.1-billion, with a gain in automotive products helping to offset declines in five of seven sectors.
Imports from the United States grew three per cent to a record high of $25.9-billion in June, the third monthly increase in a row, while exports rose 2.2 per cent to $29-billion.
Meanwhile, imports from countries other than the U.S. increased 1.1 per cent to $15-billion, while exports fell for the third consecutive month, down 5.2 per cent to $10.1-billion in June.