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Thursday, June 8, 2023

Exports to U.S. Decline 4th Consecutive Month

Canada’s merchandise exports declined 1.2 percent in April, while imports remained effectively flat, edging up just 0.1 percent.

After five consecutive monthly surpluses, Canada posted a trade deficit of $367 million in April, down from a surplus of $152 million in March, reports Stats Canada.

Exports fell to $39.1 billion, the result of a 1.9 percent decline in prices. The main contributors to the overall decrease were exports of industrial goods and materials, as well as machinery and equipment.

The modest gain in imports was based on automotive products and other consumer goods, while imports of energy products declined.

Exports to the United States fell 1.2 percent to $28.4 billion in April, the fourth consecutive monthly decrease. Imports from the U.S. rose 1.3 percent to $24.6 billion.

Exports to countries other than the U.S. decreased 1.2 percent to $10.7 billion in April, while imports declined 1.9 percent to $14.9 billion.