Trade deficit soared to $2 billion in November
by The Canadian Press
Exports to countries other than the US fell to the lowest level since September 2010
OTTAWA—Statistics Canada says the country’s trade deficit with the world ballooned to $2 billion in November from $552 million in October as merchandise imports rose 2.7 per cent and exports fell 0.9 per cent.
Imports hit $39.5 billion, with electronic and electrical equipment and parts leading the gain, followed closely by motor vehicles and parts as well as metal and non-metallic mineral products.
Exports slipped to $37.5 billion, led by declines in shipments of farm, fishing and intermediate food products as well as metal and non-metallic mineral products.
Exports to the US rose 3.9 per cent to $28.3 billion and imports were up 1.7 per cent to $25 billion, lifting the trade surplus with that country to $3.3 billion in November from $2.7 billion in October.
Exports to countries other than the US fell 13.4 per to $9.2 billion, the lowest level since September 2010.
Imports from those countries rose 4.6 per cent to $14.5 billion, raising the trade deficit with them to $5.3 billion from $3.2 billion.