Canada's Trade Deficit Widens in May

Canada's merchandise imports increased 0.4% while exports were relatively unchanged in May. As a result, Canada's trade deficit with the world widened from $623 million in April to $793 million in May.

Imports rose to $39.7 billion, on the strength of energy products. Overall, prices were up 1.5% as increases were recorded in most sectors.

Exports remained at $38.9 billion in May; the increase in volumes counterbalanced the decrease in prices. Higher exports of machinery and equipment nearly offset the decline in most sectors.

Imports from the United States rose 1.8% to $25.0 billion in May. After four consecutive monthly decreases, exports to the United States edged up 0.2% to $28.2 billion. Canada's trade surplus with the United States decreased from $3.6 billion in April to $3.2 billion in May.

Imports from countries other than the United States declined 1.9% to $14.7 billion and exports were down 0.7% to $10.7 billion. Canada's trade deficit with countries other than the United States narrowed from $4.2 billion in April to $4.0 billion in May., Statistics Canada
7/11/2012 5:25:43 PM