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Canada’s trade deficit hit $2 billion in November: StatsCan

Canada’s trade deficit with the world ballooned to $2 billion in November from $552 million in October, according to Statistics Canada, as merchandise imports rose 2.7 per cent and exports fell 0.9 per cent.


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January 11, 2013 by Canadian Plastics

Canada’s trade deficit with the world ballooned to $2 billion in November from $552 million in October, according to Statistics Canada, 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.