Reported 6 months ago
Canada's trade deficit decreased to C$1.05 billion in April from C$1.99 billion the previous month, as energy and gold exports surged. The country saw a 2.6% increase in total exports, with energy products and unwrought gold leading the way. Meanwhile, imports grew by 1.1%, driven by higher shipments of motor vehicles and parts. However, a decline in import volumes for consumer goods like clothing and footwear hints at weaker consumer demand for the second quarter. Economists are optimistic about potential positive GDP growth contributions from net trade in the coming months, particularly with the recent opening of the Trans Mountain pipeline extension that could boost energy export volumes.
Source: YAHOO