Exports down in June, trade deficit climbed: StatsCan
Posted August 11, 2011 10:42 am.
This article is more than 5 years old.
Canada’s trade deficit with the world grew to $1.6 billion in June, climbing from $1 billion in May, as the economic slowdown in the U.S. affected exports.
A report from Statistics Canada on Thursday said that merchandise exports fell 1.7 per cent in June, while imports were off 0.2 per cent.
The trade surplus with the United States slipped to $3.6 billion in June from $3.7 billion in May and the trade deficit with countries other than the United States grew to a record $5.2 billion in June from $4.8 billion in May.
Exports fell to $36.5 billion, largely the result of declines in energy products and automotive products, while merchandise imports fell to $38 billion.
Exports to the United States declined 2.4 per cent to $26.5 billion, while imports fell 2.3 per cent to $22.8 billion.
Imports from countries other than the United States increased 3.1 per cent to a record high of $15.2 billion. Exports to countries other than the United States edged up 0.3 per cent to $10 billion.
Exports of energy products fell 5.1 per cent to $8.7 billion, as both volume and prices dropped.
Automotive exports fell 5.3 per cent to $4.5 billion.
Shipments of agricultural and fishing products declined 2.3 per cent to $3.2 billion.
Industrial goods and materials exports increased 0.9 per cent to $9.5 billion on the strength of metals, alloys and chemicals, plastics and fertilizers. The increases were partly offset by reduced exports of metal ores, mainly nickel ores, concentrates and scrap.
Energy imports declined 11.7 per cent to $4.2 billion, with both volumes and prices down.
Imports of industrial goods and materials declined 0.5 per cent to $8.2 billion.
Machinery and equipment imports rose for a fourth consecutive month, rising 2.5 per cent to $10.6 billion.
Imports of other consumer goods increased 2.1 per cent to $5.0 billion driven mainly by clothing and shows.
