Canadian Trade Deficit Widens In August Over the Previous Month


In August of 2013, Canada’s trade deficit increased to CAD 1.3 billion, from CAD 1.2 billion in July. Imports grew 2.1 percent in August, while exports were up 1.8 percent, mainly due to lower sales to the European Union.

Exports increased to CAD 39.8 billion, as volumes grew 1.4 percent and prices edged up 0.4 percent. Energy products and metal and non-metallic mineral products were the main contributors to the increase in exports.

Shipments to the United States increased 1.9 percent to CAD 30.1 billion, their highest value since December of 2011.

Exports to countries other than the United States increased 1.6 percent to CAD 9.7 billion. The principal trading areas "other OECD countries" (+13.0 percent) and "all other countries" (+3.1 percent) were the main contributors to this advance. These gains were partially offset by lower exports to the European Union (-7.1 percent). 

Imports grew to CAD 41.1 billion, led by energy products, aircraft and other transportation equipment and parts, and motor vehicles and parts. Overall, volumes rose 1.2 percent and prices were up 0.9 percent.

Imports from the United States edged up 0.1 percent to CAD 26.1 billion. Imports from countries other than the United States rose 5.8 percent to CAD 14.9 billion, on the strength of imports of crude oil and crude bitumen. 

 Canadian Trade Deficit Widens In August Over the Previous Month


Statistics Canada | Joana Taborda | joana.taborda@tradingeconomics.com
10/8/2013 1:44:09 PM