Canada Reports Trade Deficit in April

Canada recorded a trade gap of CAD 638 Million in April as exports declined 1.8 percent and imports hit a new record high rising 1.4 percent.

Exports declined to $42.8 billion, as prices decreased 1.0 percent and volumes 0.8 percent. Declines in exports of energy products as well as metal and non-metallic mineral products were partially offset by an increase in exports of forestry products and building and packaging materials.

Shipments to the United States edged down 0.2 percent to $33.0 billion while imports from the United States edged up 0.3 percent to $28.7 billion. Consequently, Canada's trade surplus with the United States fell from $4.4 billion in March to $4.3 billion in April.

Sales of energy products fell 10.7 percent to $10.7 billion in April, after reaching $12.0 billion in March, which was the highest value since July 2008. Overall, volumes decreased 6.4 percent and prices 4.6 percent. The main contributors to the decline in exports were natural gas (-34.1 percent) and refined petroleum energy products (-39.5 percent). Exports of refined petroleum energy products fell as some Canadian refineries were conducting maintenance.

Imports increased for a third consecutive month to reach a record high $43.5 billion in April. Gains were recorded in 7 of 11 sections, led by consumer goods. Overall, volumes rose 1.9 percent while prices were down 0.4 percent.

Canada Reports Trade Deficit in April

StatCan | Nuno Fontes |
6/4/2014 2:03:39 PM