Trade deficit down in April on growth in energy products and machinery exports
Canada's trade surplus with the United States narrowed to $1.6 billion in April, but its trade deficit with the rest of the world narrowed by $400M
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OTTAWA—Statistics Canada says the country’s trade deficit with the world narrowed to $2.9 billion in April compared with $3.2 billion in March.
The agency says exports increased 1.5 per cent to $41.8 billion in April as prices climbed 1.1 per cent and volumes rose 0.5 per cent.
The gain came as exports of energy products rose 7.6 per cent to $5.0 billion in April, the second consecutive monthly gain.
Exports of industrial machinery, equipment and parts rose 10.5 per cent to $2.8 billion.
Imports increased 0.9 per cent to $44.7 billion, as volumes gained 0.8 per cent and prices added 0.1 per cent.
Imports of aircraft and other transportation equipment and parts rose 52.0 per cent to a record $2.2 billion in April, while imports of energy products rose 5.9 per cent to $1.7 billion in April.
Canada’s trade surplus with the United States narrowed to $1.6 billion in April compared with $1.7 billion in March, while the trade deficit with the rest of the world narrowed to $4.5 billion compared with $4.9 billion the previous month.