BUSINESS

Canada Swings To Trade Deficit In April

06/04/2014 08:45 EDT | Updated 08/04/2014 05:59 EDT
CP
OTTAWA - Statistics Canada says merchandise exports declined 1.8 per cent in April, while imports increased 1.4 per cent, pushing the trade balance with the world to a deficit of $638 million from a surplus of $766 million in March.

Exports fell to $42.8 billion, as declines in exports of energy products and metal and non-metallic mineral products were partially offset by an increase in shipments of forestry products and building and packaging materials.

Imports increased for a third consecutive month to a record $43.5 billion, with gains recorded in seven of 11 sectors, led by consumer goods.

Exports to the United States edged down 0.2 per cent to $33 billion while imports climbed 0.3 per cent to $28.7 billion, reducing the trade surplus with that country to $4.3 billion from $4.4 billion in March.

Exports to countries other than the United States fell 7.0 per cent to $9.8 billion in April, while imports from those countries increased 3.5 per cent to $14.7 billion.

The trade deficit with those countries grew to $4.9 billion from $3.7 billion in March.

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