Arab Today, arab today canada trade deficit widened in january
Last Updated : GMT 09:41:15
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Canada trade deficit widened in January

Arab Today, arab today

Arab Today, arab today Canada trade deficit widened in January

Canada started 2016 with a slight uptick in exports that was outpaced by rising imports
Ottawa - AFP

Canada started 2016 with a slight uptick in exports that was outpaced by rising imports, resulting in a widening trade deficit of Can$655 million (US$488 million), the government said Friday.

The deficit widened from a revised Can$631 million shortfall in December.

Statistics Canada said exports rose one percent in January to Can$46 billion while imports increased 1.1 percent to Can$46.7 billion.

Gains in imports of motor vehicle engines and parts, as well as consumer goods, were partially offset by declines in aircraft, the agency said.

Widespread increases in imported consumer goods were led by pharmaceutical and medicinal products, meat products, as well as clothing, footwear and accessories.

Imports of ships, locomotives, railway rolling stock, and rapid transit equipment also increased in the month.

Meanwhile, exports of consumer goods were up, notably "articles of precious metals" and pharmaceuticals, as were exports of motor vehicles and parts. But exports of aircraft and crude oil fell.

Bilateral trade with the United States -- Canada's largest trading partner -- advanced in January.

 

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