Canada's trade sputters, U.S. shows swagger

December 4, 2013

U.S. exports jumped to a record in October, an important sign of life in the global economy that could herald steadier growth in 2014.

The increase in shipments abroad helped narrow the U.S. trade deficit by 5.4 per cent to $40.6-billion (U.S.) from $43-billion in September, the Commerce Department said Wednesday. Exports gained 1.8 per cent, much bigger than the 0.4-per-cent rise in imports. That means trade was a positive contributor to economic growth because exports add to gross domestic product while imports subtract from it.

This has been exerpted from a 4 December 2013 article by The Globe and Mail, and is availalble at:
http://www.theglobeandmail.com/report-on-business/economy/canada-unexpectedly-posts-first-trade-surplus-in-22-months/article15758324/

Topic(s)

International Trade and Border Management

Information source

Canadian News Channel

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