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Canada: Exports rose 1.6% to a record $48.6 billion in April
"Canada's exports rose 1.6% to a record $48.6 billion in April, while imports were down 2.5% to $50.5 billion," Statistics Canada reported on Wednesday.
Key quotes
- As a result, Canada's merchandise trade deficit with the world narrowed from $3.9 billion in March to $1.9 billion in April.
- In real (or volume) terms, exports rose 1.2% and imports fell 2.4%.
- Higher exports of metal and non-metallic mineral products, consumer goods and energy products were partially offset by lower exports of aircraft and other transportation equipment and parts.
- Year over year, total exports rose 3.1%.
- In April, exports of energy products increased 2.3%, the eighth monthly increase in nine months.
- Exports to the United States were up 3.2% to $36.1 billion in April, notably on higher exports of crude oil and crude oil bitumen.
- Imports from the United States decreased 1.4% to $32.5 billion, mostly on lower imports of passenger cars and light trucks.
Author
Eren Sengezer
FXStreet
As an economist at heart, Eren Sengezer specializes in the assessment of the short-term and long-term impacts of macroeconomic data, central bank policies and political developments on financial assets.
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