Statistics Canada announced that the country’s merchandise imports decreased 3.8% in January, while exports fell 1.7%.<\/p>\n
As a result, Canada’s merchandise trade balance changed position for a second consecutive month, moving from a deficit of $863 million in December to a surplus of $496 million in January.<\/p>\n
The Federal agency notes that total imports decreased to $61.8 billion in January, the lowest level since February 2022. Overall, 7 of the 11 product sections were down. On a year-over-year basis, imports were down 6.0% in January 2024.<\/p>\n
Following a 9.8% increase in December, imports of consumer goods declined 7.1% in January, erasing a large part of the gain made in the previous month.<\/p>\n
Total exports decreased for a third consecutive monthly decline. Decreases were observed in 8 of the 11 product sections. Exports were down 7.5% in January compared with the same month in 2023, when exports reached a peak. Exports of metal and non-metallic mineral products (-6.2%) posted the largest decline in January 2024.<\/p>\n
Imports from the United States decreased 1.7% in January, partly because of lower imports of motor vehicles and parts and pharmaceutical products. Meanwhile, exports to that country fell 1.0%, primarily because of lower exports of aircraft. As a result, Canada’s merchandise trade surplus with the United States widened slightly from $8.6 billion in December to $8.8 billion in January.<\/p>\n
Imports from countries other than the United States were down 7.3% in January, partly because of lower imports from China (various products) and South Korea (passenger cars and light trucks). Exports to countries other than the United States (-4.2%) also fell, in large part because of lower exports to Italy (aircraft and pharmaceutical products), China (coal), Norway (nickel), and Germany (crude oil).<\/p>\n
Canada’s trade deficit with countries other than the United States narrowed from $9.4 billion in December to $8.3 billion in January.<\/p>\n","protected":false},"excerpt":{"rendered":"
Statistics Canada announced that the country’s merchandise imports decreased 3.8% in January, while exports fell 1.7%.<\/p>\n","protected":false},"author":15,"featured_media":9056,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[63],"tags":[147],"types-de-nouvelles":[],"class_list":["post-9058","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-canadian-custom-brokerage","tag-statistics-canada"],"yoast_head":"\n