- Trade deficit widened to Can$3.7 billion in June as exports fell 2.2 percent, largely reflecting lower prices.
- Imports decreased 0.5 percent, driven mostly by weaker gasoline and crude oil shipments.
- A Vancouver port worker strike and flooding that cut the Halifax rail line are expected to further hammer trade.
Canada‘s trade deficit widened to Can$3.7 billion (US$2.7 billion) in June as a continuing drop in exports outpaced falling imports, the government statistical agency said Tuesday.
Exports fell 2.2 percent in the month, largely reflecting lower prices, while imports were down 0.5 percent mostly on weaker imports of gasoline and crude oil.
Statistics Canada noted in its report a worker strike that disrupted operations in Vancouver — the country’s largest port — and 30 other ports on the Pacific coast in July as well as severe flooding that cut off a rail line to the nation’s main Atlantic port in Halifax are expected to further hammer trade.
Data for July is scheduled to be released in September.
In June, Canada also exported less unwrought gold, silver, and platinum; parts of industrial machinery and equipment; basic and industrial chemical, plastic and rubber products; and canola.
Lower imports of consumer goods — notably ingredients for medications — were partially offset by an uptick in imports of unwrought gold, silver, and platinum group metals, and their alloys.
Exports to Canada’s largest trading partner the United States were down 1.2 percent in June, while imports decreased 0.7 percent.
As a result, Canada’s trade surplus with the United States narrowed to Can$7.4 billion.
