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- Canada’s trade balance unexpectedly turns positive in May
Canada’s trade balance unexpectedly turns positive in May
Statistics
Canada announced on Wednesday that Canada’s merchandise trade balance came in
at a surplus of a CAD0.76 billion in May, compared to a revised deficit of CAD1.08
billion in April (originally a CAD0.97-billion deficit). That was the second
trade surplus since December 2016,
Economists had
expected a deficit of CAD1.50 billion.
According to
the report, the country’s exports increased 4.6 percent m-o-m in May, due
mainly to higher exports of motor vehicles and parts (+12.4 percent m-o-m),
aircraft and other transportation equipment and parts (+33.0 percent m-o-m),
and energy products (+5.0 percent m-o-m).
Meanwhile,
imports rose 1.0 percent m-o-m in May, mostly on higher imports of aircraft and
other transportation equipment and parts (+14.2 percent m-o-m), as well as
motor vehicle engines and motor vehicle parts (+9.2 percent m-o-m).
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