Trade deficit grew to $3.3B in May: StatsCan
Exports to countries other than the US fall 1.6% to $10 billion.
OTTAWA — Statistics Canada says the country’s merchandise trade deficit with the world increased to $3.34 billion in May compared with $3 in April.
Economists had expected a deficit of $2.5 billion, according to Thomson Reuters.
Exports declined 0.6% in May to $42 billion, while imports edged up 0.2% to $45.3 billion.
The federal agency says export volumes decreased 2.5% while prices increased 1.9%. Meanwhile, import volumes were up 0.3% and prices edged down 0.1%.
Exports to the US fell 0.3% to $32 billion, while imports from Canada’s largest trading partner increased 0.5% to $30 billion.
Exports to countries other than the US fell 1.6% to $10 billion in May as shipments to the UK dropped $345 million and exports to China decreased by $307 million. Imports from countries other than the US were down 0.2% to $15.5 billion.
© 2015 The Canadian Press