Statistics Canada announced that Canada’s merchandise exports increased 2.2% in November, while imports rose 1.8%.
As a result, Canada’s merchandise trade deficit with the world narrowed from $544 million in October to $323 million in November.
The total exports rise of 2.2% in November follows a 1.7% increase in October. The gain was broad-based, with 9 of the 11 product sections rising. After edging up 0.3% in October, total imports rose 1.8% in November.
Exports to the United States rose 6.8% in November, while imports increased 4.1%. As a result, Canada’s trade surplus with the United States widened from $6.6 billion in October to $8.2 billion in November.
Exports to countries other than the United States decreased 10.3% in November, driven by lower exports of unwrought gold to Hong Kong as well as of nickel to Norway. Imports from countries other than the United States were down 1.9% in November. Canada’s trade deficit with countries other than the United States widened from $7.2 billion in October to $8.5 billion in November.