Canadian Trade Deficit Narrows in June to 3-Month Low


In June of 2013, Canada's trade deficit narrowed to 469 million CAD from 781 million CAD in May and 1750 million CAD a year earlier. While exports grew 1.4 percent over the previous month, led by unwrought precious metals, passenger cars and light trucks as well as aircraft, imports increased 0.6 percent.

In June, exports rose to CAD 39.6 billion. Shipments of metal and non-metallic mineral products grew 11.6 percent. Exports of aircraft and other transportation equipment rose 24.2 percent. Shipments of aircraft led the overall gain, up 59.6 percent. Exports of motor vehicles and parts rose 5.5 percent; shipments of farm, fishing and intermediate food products fell 9.4 percent and exports of forestry products and building and packaging materials decreased 7.3 percent.

Imports increased to CAD 40.0 billion. An increase in imports of crude oil and crude bitumen and aircraft was partially offset by lower imports of lubricants and other petroleum refinery products, communications and audio and video equipment as well as pharmaceutical and medicinal products. 

Exports to the United States grew 1.5 percent, while imports from the United States declined 0.8 percent. Imports from countries other than the United States increased 3.3 percent. The principal trading area "all other countries" led the increase, on higher imports of crude oil and crude bitumen. Exports to countries other than the United States were up 1.4 percent.

Canadian Trade Deficit Narrows in June to 3-Month Low


Statistics Canada | Joana Taborda | joana.taborda@tradingeconomics.com
8/6/2013 1:51:17 PM