Canada Trade Deficit Widens in November


Canada's merchandise imports rose 2.7% in November, while exports decreased 0.9%. As a result, Canada's trade deficit with the world widened from $552 million in October to $2.0 billion in November.

Imports rose to $39.5 billion, as volumes increased 2.2%. Electronic and electrical equipment and parts led the gain in overall imports, followed closely by motor vehicles and parts as well as metal and non-metallic mineral products. Exports declined to $37.5 billion, as prices were down 1.3%. Exports of farm, fishing and intermediate food products as well as metal and non-metallic mineral products contributed the most to the overall decline.

Exports to the United States grew 3.9% to $28.3 billion. Imports from the United States rose 1.7% to $25.0 billion, the third consecutive monthly increase. Consequently, Canada's trade surplus with the United States increased from $2.7 billion in October to $3.3 billion in November.

Statistics Canada | Nuno Fontes | nuno@tradingeconomics.com
1/11/2013 1:45:50 PM