Statistics Canada says trade deficit narrowed to $1.9B in April
This compares with a deficit of $3.9 billion in March
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OTTAWA—Statistics Canada says the country’s merchandise trade deficit contracted in April as exports rose to a record and imports moved lower.
The agency says the deficit amounted to $1.9 billion compared with a deficit of $3.9 billion in March.
Economists had expected a deficit of $3.4 billion, according to Thomson Reuters Eikon.
Exports rose 1.6 per cent to a record $48.6 billion in April boosted by exports of metal and non-metallic mineral products, consumer goods and energy products.
Meanwhile, imports fell 2.5 per cent in April to $50.5 billion as imports of motor vehicles and parts and consumer goods fell.
In volume terms, exports rose 1.2 per cent and imports fell 2.4 per cent.