Canada Trade Deficit Narrows in May


Canada trade gap narrowed to CAD 152 million in May of 2014, down from a revised CAD 961 million in the previous month. Exports increased to the second highest value on record, led by sales of motor vehicles and parts.

Exports advanced 3.5 percent in May of 2014 to CAD 44.2 billion from the previous month. Sales of motor vehicles and parts grew 9.8 percent to CAD 6.6 billion in May, a fourth consecutive monthly increase.

Shipments to the United States advanced 2.1 percent to CAD 33.5 billion in May, led by passenger cars and light trucks sales. Exports to countries other than the United States grew 8.3 percent to CAD 10.7 billion. 

Imports amounted to CAD 44.3 billion in May of 2014, a 1.6 percent increase from the previous month, driven by higher purchases of motor vehicles and parts as well as metal ores and non-metallic minerals (6.7 percent).

Imports from the United States edged down 0.2 percent to CAD 28.7 billion. Imports from countries other than the United States rose 5.1 percent to CAD 15.6 billion, led by the European Union (+12.4 percent). 

Canada Trade Deficit Narrows in May


Statistics Canada | Isabel Felino | isabel.felino@tradingeconomics.com
7/3/2014 2:23:26 PM