Imports and exports fell in Canada, causing its trade deficit to double in a month. Some relevant statistics from StatsCan include:
- The trade deficit widened from CDN$417 million in March, to CDN$924 million in April.
- In April, exports fell by 1.9 percent, volumes decreased by 1.1 percent and prices fell by 0.9 percent.
- Imports fell by 0.6 percent, volumes increased by one percent and prices dropped 1.5 percent.
- Exports to the USA increased by 0.3 percent and imports rose by 1.7 percent, narrowing the surplus by CDN$300 million.
- Exports to countries besides the USA fell by 7.9 percent and imports fell by 4.1 percent, widening the deficit by CDN$200 million.
StatsCan reported that the decrease in volume was due to a slow month in the machinery and equipment sector. The automotive and industrial sectors contributed the the declining export prices. Automotive imports had the greatest decline due to the tsunami and earthquake in Japan.
For the full article, head to the Globe and Mail.
Other reports on the economy include:
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