Canadian Trade Deficit Doubles As Exports Drop
2011-06-09 17:43:54
Canada's trade deficit doubled in April as a significant decline in exports outpaced falling imports, according to official data released Thursday.
The nation's merchandise exports decreased 1.9 percent in April, following a 4.8 percent gain in March, Statistics Canada said.
Exports decreased to C$36.3 billion in April, on modest declines in prices and volumes. The decrease in volume was led by the machinery and equipment sector.
With imports dropping 0.6 percent, Canada's trade deficit with the world widened from C$417 million in March to C$924 million in April.
Even with exports to the United States increasing for the second month in a row, Canada's trade surplus with the U.S. narrowed from C$4.2 billion in March to C$3.9 billion in April.