Canada's Trade Deficit Widens in June


Canada's merchandise exports fell 1.7% in June while imports decreased 0.2%. As a result, Canada's trade deficit with the world widened from $1.0 billion in May to $1.6 billion in June.

Exports fell to $36.5 billion, largely the result of declines in energy products and automotive products. Volumes, which decreased 2.2%, were down in five out of seven sectors. Prices increased 0.5% and were up in all sectors except energy products.

Merchandise imports declined to $38.0 billion, led by energy products. Overall, prices fell 2.1% and volumes increased 1.9%.

Exports to the United States declined 2.4% to $26.5 billion in June, while imports fell 2.3% to $22.8 billion. Canada's trade surplus with the United States went from $3.7 billion in May to $3.6 billion in June.

Imports from countries other than the United States increased 3.1% to a record high of $15.2 billion. Exports to countries other than the United States edged up 0.3% to $10.0 billion. Canada's trade deficit with countries other than the United States widened from $4.8 billion in May to a record $5.2 billion in June.


TradingEconomics.com, Statistics Canada
8/11/2011 1:35:28 PM