Trade deficit rises as exports dip, imports advance

April 5, 2013

The following is excerpted from today’s article by The Globe and Mail.

Statistics Canada says the country’s merchandise trade deficit with the world rose to $1-billion in February from $746-million in January as exports decreased 0.6 per cent while imports increased marginally.

Imports rose 0.1 per cent to $39.5-billion as increases in seven of the 11 import sectors were mostly offset by a large decrease in energy products.

Exports to the United States fell 1.1 per cent to $28.4-billion in February, while imports were up 0.8 per cent to $25-billion, lowering the trade surplus with that country to $3.4-billion in February from $3.9-billion in January.

Exports to countries other than the United States increased 0.9 per cent to $10.1-billion, while imports declined 0.9 per cent to $14.5-billion, shrinking the trade deficit with the rest of the world to $4.4-billion from $4.6-billion the previous month.

This article is available in its entirety at: http://www.theglobeandmail.com/report-on-business/economy/trade-deficit-rises-as-exports-dip-imports-advance/article10798583/ (subscription may be required.)

Topic(s)

Exports

Information source

Canadian News Channel

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