Canada’s trade deficit grew to $3.34B in May
by The Canadian Press
Exports declined 0.6 per cent in May to $42 billion, while imports edged up 0.2 per cent to $45.3 billion.
OTTAWA—Statistics Canada says the country’s merchandise trade deficit with the world increased to $3.34 billion in May compared with $3.0 billion in April.
Economists had expected a deficit of $2.5 billion, according to Thomson Reuters.
Exports declined 0.6 per cent in May to $42 billion, while imports edged up 0.2 per cent to $45.3 billion.
The federal agency says export volumes decreased 2.5 per cent while prices increased 1.9 per cent. Meanwhile, import volumes were up 0.3 per cent and prices edged down 0.1 per cent.
Exports to the United States fell 0.3 per cent to $32.0 billion, while imports from Canada’s largest trading partner increased 0.5 per cent to $30.0 billion.
Exports to countries other than the United States fell 1.6 per cent to $10.0 billion in May as shipments to the United Kingdom dropped $345 million and exports to China decreased by $307 million. Imports from countries other than the United States were down 0.2 per cent to $15.5 billion.
