Canada’s trade deficit narrows in November

By FXStreet FXStreet (Mumbai) – Canada’s imports decreased 0.7% in November while exports increased 0.4%. Import volumes declined 1.6% while prices increased 0.9%. Volumes for exports were up 0.7% while prices declined 0.4%. Canada’s merchandise trade deficit narrowed from $2.5 billion in October to $2.0 billion in November.

Exports to the United States rose 1.3% to $32.5 billion in November, while imports edged down 0.1% to $30.4 billion.

Exports of motor vehicles and parts rose 5.9% to $7.9 billion. The main contributor was passenger cars and light trucks, up 7.7% to $5.4 billion. Exports of metal ores and non-metallic minerals was up 20.4% to $1.8 billion on higher volumes in November. Forestry products and building and packaging materials exports increased 5.5% to $3.5 billion on higher volumes.

On the other hand, imports of electronic and electrical equipment and parts decreased 2.9% to $5.1 billion. Imports of energy products fell 6.4% to $2.1 billion, the lowest import value since August 2004 and imports of consumer goods declined 1.0% to $9.8 billion
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Source:: FX Street