World Economy

Canada Trade Deficit Edges Up

Canada Trade Deficit Edges UpCanada Trade Deficit Edges Up

Canadian exports hit a record high in January as demand from the resurgent US economy and the weakened loonie bolstered shipments south of the border. Overall, Canada’s trade deficit edged up to $655 million in January from $631 million in December as imports grew slightly more than exports, Statistics Canada said on Friday. Analysts in a Reuters poll had predicted a shortfall of $1.05 billion. January marked the 17th consecutive monthly trade deficit, reflecting the continuing economic damage caused by low oil prices, but economists are seeing reason for optimism beyond the energy sector.