Canada Trade Deficit Widens
World Economy

Canada Trade Deficit Widens

Canada’s trade gap unexpectedly widened to a record deficit in June as imports of motor vehicles and parts jumped, while the increase in exports was lackluster, data from Statistics Canada showed on Friday, Reuters reported. The C$3.63 billion ($2.79 billion) deficit was greater than the C$2.82 billion that economists had expected. Exports were up just 0.6% in June, but that was largely due to a jump in prices, with volumes down 1.4%. Overall exports were lifted by a 7.2 increase for energy products as prices for crude oil and bitumen rose. But excluding energy products, exports were down 0.4%. In the second quarter, exports tumbled 4.7%, the largest decline since the second quarter of 2009. After a strong start to the year, economists expect this drop, along with the disruption to oil production caused by wildfires in northern Alberta, to weigh on economic growth data for the second quarter. Imports rose 0.8% in June, led by record levels of motor vehicles and parts. Overall volumes were up 0.7%.


Short URL : http://goo.gl/hngpAg
  1. http://goo.gl/3fSK62
  • http://goo.gl/VxDMwF
  • http://goo.gl/qRUywm
  • http://goo.gl/fBdcbs
  • http://goo.gl/LLUzpZ

You can also read ...

While China tries to alleviate its demographic crunch, the aging society means a pension shortfall.
Forget that image of sweatshops making all kinds of cheap...
Russia Economic Recovery Underway
Retail sales in Russia picked up in April, while real wages...
In 2017 banks had total mortgage lending of around $352 billion.
High levels of household debt are the greatest risk to Sweden’...
Greece at Crucial Point
Discussions are heating up over future debt repayments for...
Peru Economy Strengthens
Economic growth in Peru strengthened in the first quarter...
Saudi Gov’t Told Not to Boost Spending
The International Monetary Fund urged the Saudi government not...
Brazil CB Keeps Rates on Hold
Brazil’s central bank considered cutting interest rates last...
EU Tells Italy to Cut Debt, Warns of Euro Spillover
Italy’s incoming government should aim to cut its heavy public...