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- Canada’s trade balance records CAD0.59 billion surplus in April
Canada’s trade balance records CAD0.59 billion surplus in April
Statistics
Canada announced on Tuesday that Canada recorded a trade surplus of CAD0.59
billion in April, compared with a revised CAD1.35-billion gap in February
(originally a CAD1.14-billion shortfall).
Economists
had forecast a deficit of CAD0.70 billion.
According
to the report, Canada’s exports fell 1.0 percent m-o-m to CAD50.21 billion in April,
as a sharp decline in exports of motor vehicles and parts (-18.1 percent m-o-m)
was partly offset by a jump in exports of consumer goods (+14.4 percent
m-o-m). Meanwhile, imports dropped 4.6 percent m-o-m (the most since the
historic declines of April 20200 to CAD49.61 billion in April, in large part due
to a significant decrease in Imports of motor vehicles and parts (-22.1 percent
m-o-m). The plunge in the trade of motor vehicles and parts was mainly the result
of production shutdowns in the auto assembly industry in April because of the shortage
of semiconductor chips, the report noted.
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