Canada sees trade deficit widening in May

ISTANBUL

Canada saw its trade deficit widening in May from the previous month, according to figures released Wednesday by Statistics Canada.

The North American country's merchandise exports decreased 2.6%, while imports fell 1.6% in April, the statistical agency said in a statement.

"As a result, Canada's merchandise trade deficit with the world widened from $1.3 billion in April to $1.9 billion in May," it added. "This represents a third consecutive monthly deficit."

The market expectation was to show a trade deficit of $1.3 billion, while the trade deficit figure for April was revised to $1.3 billion from $1 billion.

Total exports were down 2.6% to $62.4 billion, the lowest level since July 2023, while total imports decreased 1.6% to approximately $64.4 billion.

Overall, export decreases were observed in eight of the 11 product sections, led by unwrought gold with a decline of 17.1%.

Import increases, meanwhile, were recorded in six of the 11 sections, which were led by a whopping 45.9% decrease in imports of unwrought gold, silver and platinum group metals and their alloys.

ISTANBUL

Canada saw its trade deficit widening in May from the previous month, according to figures released Wednesday by Statistics Canada.

The North American country's merchandise exports decreased 2.6%, while imports fell 1.6% in April, the statistical agency said in a statement.

"As a result, Canada's merchandise trade deficit with the world widened from $1.3 billion in April to $1.9 billion in May," it added. "This represents a third consecutive monthly deficit."

The market expectation was to show a trade deficit of $1.3 billion, while the trade deficit figure for April was revised to $1.3 billion from $1 billion.

Total exports were down 2.6% to $62.4 billion, the lowest level since July 2023, while total imports decreased 1.6% to approximately $64.4 billion.

Overall, export decreases were observed in eight of the 11 product sections, led by unwrought gold with a decline of 17.1%.

Import increases, meanwhile, were recorded in six of the 11 sections, which were led by a whopping 45.9% decrease in imports of unwrought gold, silver and platinum group metals and their alloys.