Canada

Canada’s merchandise trade deficit increases sharply to $3.2B in June: StatCan

OTTAWA - Statistics Canada says the country’s merchandise trade deficit rebounded sharply in June mainly due to the strength of motor vehicles and parts.

The agency says the deficit widened to $3.2 billion from $1.3 billion in May and $858 million a year ago.

The import of goods rose 21.8 per cent in the month to $42.9 billion but were down 15 per cent from June 2019.

Exports were up 17.1 per cent to $39.7 billion but down 20 per cent from $49.6 billion a year earlier.

Compared with the month before the COVID-19 pandemic’s economic impact was felt, imports were down 14.3 per cent from February while exports decreased 17.9 per cent.

In volume terms, imports rose 28.3 per cent while exports increased 10.6 per cent. Import prices were down 5.1 per cent while export prices were up 5.9 per cent.

This report by The Canadian Press was first published Aug. 5, 2020.

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