According to Statistics Canada, Canada's exports declined 0.6 percent in May while imports edged up 0.2 percent. Export volumes decreased 2.5 percent and prices increased 1.9 percent. Meanwhile, import volumes were up 0.3 percent and prices edged down 0.1 percent.
As a result, Canada's merchandise trade deficit with the world widened from $3.0 billion in April to $3.3 billion in May.
Exports declined to $42.0 billion in May, the fifth consecutive monthly decrease. The declines in metal and non-metallic mineral products as well as metal ores and non-metallic minerals were largely offset by gains in aircraft and other transportation equipment and parts as well as motor vehicles and parts. Following two consecutive monthly increases, the volume of exports declined 2.5 percent in May.
Exports of metal and non-metallic mineral products were down 5.8 percent to $4.6 billion. Fabricated metal products decreased 19.7 percent to $370 million. Exports of unwrought precious metals and precious metal alloys (-4.6 percent) and unwrought nickel and nickel alloys (-13.4 percent) also fell in May. Overall, volumes decreased 7.0 percent while prices were up 1.2 percent.
Metal ores and non-metallic minerals fell 9.2 percent to $1.4 billion. There were widespread declines throughout the section, with the largest occurring in other metal ores and concentrates (-41.3 percent), copper ores and concentrates (-12.2 percent) and potash (-7.9 percent). For the section, volumes were down 12.7 percent while prices increased 4.0 percent.
Partially offsetting these declines, exports of aircraft and other transportation equipment and parts rose 10.3 percent to $2.1 billion in May. The main contributor was aircraft, which increased 30.7 percent to $1.0 billion.
Exports of motor vehicles and parts were up 2.7 percent to $6.9 billion, as volumes increased. There were higher exports of passenger cars and light trucks, which rose 3.8 percent to $4.6 billion.
Imports edged up to $45.3 billion in May, as 7 of 11 sections increased.
Imports of metal and non-metallic mineral products rose 5.0 percent to $3.8 billion. The main contributor was unwrought precious metals and precious metal alloys, up 43.6 percent to $847 million. Overall, volumes increased 2.8 percent and prices 2.1 percent.
Meanwhile, imports of aircraft and other transportation equipment and parts declined 12.4 percent to $1.6 billion. Imports of ships, locomotives, railway rolling stock, and rapid transit equipment fell $181 million to reach $119 million in May, following a $184 million increase in April.
Imports of industrial machinery, equipment and parts were down 5.0 percent to $4.3 billion, on a 5.1 percent decline in volumes. There were lower imports of other general-purpose machinery and equipment (-8.1 percent) and logging, mining and construction machinery and equipment (-13.3 percent).