Canada’s trade deficit narrows to $3 billion in April

Friday, 05 June 2015 02:15:57 (GMT+3)   |   San Diego
       

According to Statistics Canada, Canada's imports declined 2.5 percent in April and exports were down 0.7 percent. Import volumes fell 1.8 percent and prices were down 0.8 percent. Meanwhile, export volumes increased 0.5 percent while prices declined 1.2 percent. As a result, Canada's merchandise trade deficit with the world narrowed from $3.9 billion in March to $3.0 billion in April.

Imports from countries other than the United States were down 5.3 percent to $15.5 billion, mainly on lower imports from China (-$869 million). Imports from the United States fell 1.0 percent to $29.4 billion in April.

Exports to countries other than the United States declined 7.2 percent to $10.1 billion. There were lower exports to Japan (-$173 million) and Switzerland (-$130 million). Exports to the United States increased 1.6 percent to $31.8 billion.

As a result, Canada's trade deficit with countries other than the United States narrowed slightly in April. Canada's trade surplus with the United States widened from $1.6 billion in March to $2.4 billion in April.

Metal and non-metallic mineral products decreased 11.3 percent to $3.7 billion in April. Lower imports of unwrought precious metals and precious metal alloys, which declined 36.0 percent to $583 million, were the main contributor. Overall, volumes fell 7.6 percent and prices 4.1 percent.

Meanwhile, imports of motor vehicles and parts were up 2.7 percent to a record $8.2 billion. Higher imports of passenger cars and light trucks led the increase, rising 10.5 percent to $3.9 billion, also a record. This was partially offset by a decline in medium and heavy trucks, buses and other motor vehicles, down 11.9 percent to $828 million.

 


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