Ekonomické zprávy

Canada’s trade gap decreases to CAD0.16 billion in December

Statistics Canada announced on Tuesday that Canada recorded a trade deficit of CAD0.16 billion in December 2022 compared to an upwardly revised CAD0.22-billion shortfall (from CAD0.04-billion) in November. 

Economists had forecast a gap of CAD0.50 billion.

According to the report, Canada’s exports dropped 1.2 percent m-o-m to CAD62.97 billion in December, its lowest level since February 2022, as 7 of 11 product sections recorded declines in exports, led by farm, fishing and intermediate food products (-9.9 percent m-o-m), energy products (-7.6 percent m-o-m) and aircraft and other transportation equipment and parts (-5.6 percent m-o-m).

Meanwhile, imports fell 1.3 percent m-o-m to CAD63.13 billion in December, its lowest level since March 2022, as 7 of the 11 product sections registered decreases, with consumer goods (-6.4 percent m-o-m), motor vehicles and parts (-6.0 percent m-o-m) and forestry products and building and packaging materials (-3.5 percent m-o-m) posting the steepest declines.

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