Trade deficit moves higher in US and Canada

Thursday, 05 September 2013 01:18:28 (GMT+3)   |   San Diego
       

The US Census Bureau and the US Bureau of Economic Analysis, through the Department of Commerce, announced Wednesday that total July exports of $189.4 billion and imports of $228.6 billion resulted in a goods and services deficit of $39.1 billion, up 13.3 percent from $34.5 billion in June, revised. July exports were $1.1 billion less than June exports of $190.5 billion. July imports were $3.5 billion more than June imports of $225.1 billion.

Meanwhile, Canada's merchandise imports grew 0.6 percent in July while exports declined 0.6 percent. As a result, Canada's trade deficit with the world widened from $460 million in June to $931 million in July.

Imports grew to $40.1 billion, as volumes were up 1 percent and prices edged down 0.4 percent. Exports declined to $39.2 billion.

Imports from the United States rose 2.7 percent to $26.3 billion and exports to the United States were up 0.8 percent to $29.4 billion. Consequently, Canada's trade surplus with the United States narrowed from $3.6 billion in June to $3.2 billion in July.

Exports to countries other than the United States fell 4.5 percent to $9.8 billion, as lower exports were reported for the European Union (down 15.9 percent).

 


Similar articles

Canada reverses trade deficit to a $75 million surplus in October

05 Dec | Steel News

Trade deficit narrows in the US and Canada

07 Aug | Steel News

Trade deficit up 12 percent in US but shrinks in Canada

04 Jul | Steel News

New US-Canada infrastructure plan could improve trade relations

03 Jun | Steel News

Trade deficit shrinks in US while Canada reports surplus

06 May | Steel News

Trade deficit shrinks in US but widens to $1 billion in Canada

08 Apr | Steel News

Trade deficit widens in US but shrinks in Canada

08 Mar | Steel News

Trade deficit swells in US and Canada

14 Jan | Steel News

US and Canada’s trade deficits widen in July

12 Sep | Steel News

USITC plans economic study of free trade through TPP

08 Aug | Steel News