Trade deficit in Canada widens in June
Imports in Canada increased 0.8% to CA$45.0 billion in June, with import volumes rising 0.7% while import prices increased 0.2%. Exports were 0.6% higher at CA$41.4 billion, with volumes falling 1.4% while export prices rose 2%. The result is a wider trade deficit, standing at CA$3.6 billion, up from CA$3.5 billion in June, according to Statistics Canada's bulletin published on Friday.
Overall exports were lifted with a 7.2% jump in energy products, but excluding them exports declined 0.4%.
During the second quarter which ended on June 30, imports decreased 1.4% to CA$134.7 billion. Exports dropped 4.7% to CA$124 billion, marking "the largest decline since the second quarter of 2009," reminded Statistics Canada. Quarterly trade deficit touched a record of CA$10.7 billion versus CA$6.4 billion in the first quarter of 2016.
Imports from the United States of America rose 1.5% to CA$29.8 billion (US$22.6 billion) and exports fell 1.2% to CA$31.6 billion (US$23.9 billion), narrowing trade surplus to CA$1.8 billion (US$1.36) from CA$2.6 billion (US$1.97 billion) in June.
