Canada Posts Surprise Trade Deficit, Exports Down
(Reuters – David Ljunggren)
A drop in exports meant Canada posted an unexpected trade deficit of C$885 million ($868 million) in October, reflecting economic problems in the United States and Europe, Statistics Canada data indicated on Friday. Market operators had forecast a surplus of C$600 million after the revised C$1.03 billion surplus in September.
After three consecutive monthly increases exports fell by 3.0% to C$38.37 billion on lower shipments of industrial goods and materials – in particular metals and alloys – as well as energy products. Imports grew by 1.9% to a record high C$39.26 billion on higher imports of machinery and equipment. Read more here.
Date: December 9, 2011