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Canada: Commerce deficit will increase to $2.1 billion in November as exports decline 2.9%

“Canadian exports fell 2.9% in November, primarily on decrease crude oil exports, whereas imports decreased zero.5%,” Statistics Canada reported on Tuesday and added: “Because of this, Canada’s merchandise commerce deficit with the world widened from $851 million in October to $2.1 billion in November.”

Key takeaways from the press launch

Complete exports fell 2.9% to $48.three billion in November, a fourth consecutive month-to-month decline.  Following a 6.7% decline in October, exports of power merchandise fell 9.2% to $eight.four billion in November.  Exports to the US fell three.9% in November to $35.three billion, principally resulting from decrease crude oil exports.  Complete imports declined zero.5% to $50.four billion in November.


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