Canada’s trade gap yawns wider for 16th straight month

June 4, 2013

The following is excerpted from 4 June 2013 article by the Financial Post.

Canada’s trade deficit leapt in April as imports hit a record high and exports edged down, a further sign that exporters’ woes are curbing economic growth, Statistics Canada data indicated on Tuesday.

The April deficit hit $567 million, slightly more than the $550 million shortfall forecast by market operators. Statscan revised March’s initial $24 million surplus to a deficit of $3 million.

That revision means Canada has now posted 16 consecutive monthly trade deficits…

Imports rose by 1.2% in April, the fourth consecutive month-on-month advance, to hit a record $40.84 billion. The increase was led by imports of energy products, motor vehicles and parts.

Exports slipped by 0.2% to $40.27 billion on lower shipments of metal ores, energy products and industrial machinery…

This article is available in its entirety at: http://business.financialpost.com/2013/06/04/canadas-trade-gap-yawns-wider-for-16th-straight-month/.

Topic(s)

International Trade and Border Management

Information source

Canadian News Channel

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