Canada Trade Deficit Shrinks in December


Canada's merchandise imports fell 2.8% in December and merchandise exports declined 0.9%. As a result, Canada's trade deficit with the world decreased from $1.7 billion in November to $901 million in December.

Imports fell to $38.5 billion, as volumes decreased 2.7%. Imports were down in most sections with the largest decrease in basic and industrial chemical, plastic and rubber products.

Exports declined to $37.6 billion as volumes fell 2.1%, while prices rose 1.2%. Decreases in exports of energy products as well as motor vehicles and parts were partly offset by an increase in metal ores and non-metallic minerals.

Exports to the United States fell 4.0% to $27.6 billion, mainly on lower exports of motor vehicles and parts. Imports from the United States decreased 3.3% to $24.1 billion. Consequently, Canada's trade surplus with the United States narrowed from $3.8 billion in November to $3.5 billion in December.

Exports to countries other than the United States rose 8.5% to $10.0 billion while imports declined 2.0% to $14.5 billion. As a result, Canada's trade deficit with countries other than the United States decreased from $5.5 billion in November to $4.4 billion in December.


Statistics Canada | Duarte Ricardo | duarte.ricardo@tradingeconomics.com
2/8/2013 3:17:35 PM