Arab Today, arab today canada\s trade deficit widens in june
Last Updated : GMT 21:46:51
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Canada\'s trade deficit widens in June

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Arab Today, arab today Canada\'s trade deficit widens in June

Ottawa - UPI

Canada\'s international trade deficit jumped from $954 million in May to $1.8 billion in June based on higher imports and flat exports, Statistics Canada said. Merchandise imports from all countries rose 2.3 percent and reached a record high of $40.9 billion, while exports edged up 0.2 percent to $39.1 billion in June, the agency said in a report Thursday. The only sector to report import declines in June was energy products, down 3.6 percent to $4.2 billion. Imports of crude petroleum decreased 18.2 percent to $2.2 billion. \"A strong gain in exports of automotive products helped offset declines in five out of seven sectors,\" the agency said. Regarding the United States alone, Canadian exports rose 2.2 percent to $29 billion as imports continued an upward trend and reached a record high of $40.9 billion in June. \"This narrowed the trade surplus with the United States from $3.2 billion in May to $3.1 billion in June,\" StatsCan said.

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