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- Canada’s trade deficit narrows more than forecast in April
Canada’s trade deficit narrows more than forecast in April
Statistics
Canada announced on Thursday that Canada’s merchandise trade deficit stood at
CAD0.97 billion in April, narrowing from a revised CAD2.34 billion gap in March
(originally a CAD3.21-billion deficit). That was the smallest trade gap since October 2018.
Economists had
expected a deficit of CAD2.80 billion.
According to the report, the country’s exports increased 1.3 percent m-o-m in April, due mainly to higher exports of metal and non-metallic mineral products (+15.0 percent m-o-m), particularly gold.
Meanwhile,
imports fell 1.4 percent m-o-m in April, mostly on lower imports of aircraft
and other transportation equipment and parts (-23.6 percent m-o-m).
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