Canada’s global trade deficit increased in November as imports grew by 0.1% and exports remained unchanged, according to Statistics Canada data released January 7.
The deficit grew to $940 million from $908 million in October – an increase of $32 million.
Imports increased to $40.7 billion, reflecting price increases of 0.1%. Imports of aircraft and other transportation equipment and parts grew by 17.3% to almost $1.5 billion. Almost all sectors saw import growth, but the increases were almost completely offset by decreases in basic and industrial chemical, plastic and rubber products (down 16.2% to $3.3 billion) and energy products (down 16.3% to $2.9 billion).
Exports were stable at $39.7 billion, reflecting price increases of 0.7% offset by the same percentage of volumes. Drops in exports of energy products, down 1.6% to $9.3 billion, and basic and industrial chemical, plastic and rubber products, down 7% to $2.8 billion, partially offset an increase in the export of motor vehicles and parts, up 9.6% to $6 billion
Canada’s trade surplus with the United States narrowed by $331 million to $2.8 billion in November. This reflects a 2% increase in imports, driven by higher imports of aircraft, only partially offset by a 0.6% increase in exports, mainly due to motor vehicles and part exports.
