{"id":9879,"date":"2024-07-09T17:43:22","date_gmt":"2024-07-09T17:43:22","guid":{"rendered":"https:\/\/axxessintl.com\/?p=9879"},"modified":"2024-07-09T17:43:22","modified_gmt":"2024-07-09T17:43:22","slug":"canadas-trade-deficit-increased-to-1-9-billion-in-may","status":"publish","type":"post","link":"https:\/\/axxessintl.com\/en\/canadas-trade-deficit-increased-to-1-9-billion-in-may\/","title":{"rendered":"Canada’s trade deficit increased to $1.9 billion in May"},"content":{"rendered":"

Statistics Canada reports that the country’s merchandise exports decreased 2.6% in May, while imports were down 1.6%. As a result, Canada’s merchandise trade deficit with the world widened from $1.3 billion in April to $1.9 billion in May. This represents a third consecutive monthly deficit.<\/p>\n

The Federal agency notes that following the increase of 2.1% in April, total exports were down 2.6% in May to $62.4 billion, the lowest level since July 2023. Overall, declines were observed in 8 of the 11 product sections.<\/p>\n

The 1.6% drop of total imports in May follows a 1.3% increase in April. Overall, 6 of the 11 product sections posted declines.<\/p>\n

Despite the overall decline in total exports, exports to the United States rose 0.8% in May, with light trucks contributing the most to the increase. Light trucks were also behind the decrease in imports from the United States (-1.7%). As a result, Canada’s trade surplus with the United States widened from $7.1 billion in April to $8.2 billion in May.<\/p>\n

Exports to countries other than the United States declined 12.9% in May. There were lower exports to the United Kingdom (unwrought gold), Japan (copper ores and natural gas liquids) and Saudi Arabia (other transportation equipment). Meanwhile, imports from countries other than the United States posted a more modest decline of 1.4%. Imports from the United Kingdom (unwrought gold) and Germany (various products) decreased the most in May.<\/p>\n

As a result, Canada’s trade deficit with countries other than the United States widened from $8.4 billion in April to $10.1 billion in May.<\/p>\n","protected":false},"excerpt":{"rendered":"

Statistics Canada reports that the country’s merchandise exports decreased 2.6% in May, while imports were down 1.6%. As a result, Canada’s merchandise trade deficit with the world widened from $1.3 billion in April to $1.9 billion in May. This represents a third consecutive monthly deficit.<\/p>\n","protected":false},"author":15,"featured_media":3342,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[63],"tags":[147],"types-de-nouvelles":[],"class_list":["post-9879","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-canadian-custom-brokerage","tag-statistics-canada"],"yoast_head":"\nCanada's trade deficit increased to $1.9 billion in May - Axxess International<\/title>\n<meta name=\"description\" content=\"Statistics Canada reports that the country's merchandise exports decreased 2.6% in May, while imports were down 1.6%. 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