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June 14, 2012
First Canadian trade deficit in six months as exports fell back in April
Statistics Canada reports that the country's merchandise exports declined 1.2% in April, while imports edged up 0.1%. As a consequence, after five consecutive monthly surpluses, Canada posted a trade deficit of $367 million in April, down from a surplus of $152 million in March.
Exports fell to $39.1 billion, with an overall decrease in exports of industrial goods and materials, as well as machinery and equipment. Exports of automotive products as well as of agricultural and fishing products increased slightly.
Imports rose to $39.5 billion, their fifth consecutive monthly increase. The gains were led by higher imports of automotive products and other consumer goods, while imports of energy products declined.
Exports to the United States fell 1.2% to $28.4 billion in April, the fourth consecutive monthly decrease. Imports from the United States rose 1.3% to $24.6 billion. As a result, Canada's trade surplus with the United States decreased from $4.5 billion in March to $3.8 billion in April.
Exports to countries other than the United States decreased 1.2% to $10.7 billion in April, while imports declined 1.9% to $14.9 billion. Canada's trade deficit with countries other than the United States narrowed from $4.4 billion in March to $4.2 billion in April.
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