Canada Trade Deficit Widens in November


In November of 2013, Canadian trade deficit increased slightly to CAD 940 million, up from CAD 908 million in October, as imports edged up 0.1 percent, while exports were unchanged.

Exports were unchanged at CAD 39.8 billion, as prices increased 0.7 percent while volumes were down 0.7 percent. Basic and industrial chemical, plastic and rubber products; energy products; industrial machinery, equipment and parts; and consumer goods recorded the largest declines in exports. Motor vehicles and parts had the largest increase. 

Exports to the United States were up 0.6 percent to CAD 30.0 billion, with motor vehicles and parts being the main contributor. Exports to countries other than the United States declined 2.0 percent, with the European Union (-6.4 percent) recording the largest decline. 

Imports edged up to CAD 40.7 billion, as prices were up 0.1 percent and volumes remained the same. Increases in imports in most sections were almost offset by large decreases in basic and industrial chemical, plastic and rubber products, as well as in energy products.

Imports from the United States grew 2.0 percent, led by higher imports of aircraft. Imports from countries other than the United States fell 3.6 percent to CAD 13.5 billion. There were widespread declines among the principal trading areas, with the largest occurring for "all other countries" (-4.0 percent). 

Canada Trade Deficit Widens in November


Joana Taborda | joana.taborda@tradingeconomics.com
1/7/2014 1:41:53 PM