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- Canada’s trade deficit narrows to CAD3.34 billion in November
Canada’s trade deficit narrows to CAD3.34 billion in November
Statistics
Canada announced on Thursday that Canada’s merchandise trade deficit stood at
CAD3.34 billion in November, narrowing from a revised CAD3.73-billion gap in October
(originally a CAD3.76-billion shortfall). This was the lowest trade gap since August.
Economists had
forecast a deficit of CAD3.50 billion.
According to
the report, Canada’s exports grew by 0.5 percent m-o-m to CAD46.76 billion in November,
mainly driven by higher exports of gold. Meanwhile, imports decreased by 0.3
percent m-o-m to CAD50.10 billion in November, primarily due to lower imports
of industrial machinery, equipment and parts (-3.9 percent m-o-m).
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