Canada’s trade deficit more than doubles in April

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Ottawa— The Canadian Press
Last updated Thursday, Jun. 09, 2011 9:19AM EDT

Canada's international trade deficit more than doubled in April as both exports and imports fell.

Statistics Canada reports the trade deficit widened to $924-million in April from $417-million in March.

The agency says merchandise exports decreased 1.9 per cent in April, while imports fell 0.6 per cent.

Exports declined to $36.3 billion in April, as volumes fell 1.1 per cent and prices slipped 0.9.

StatsCan says the decrease in volume was led by the machinery and equipment sector, while industrial goods and materials, and automotive contributed the most to the price decline.

Imports fell to $37.2-billion, as prices declined 1.5 per cent and volumes rose 1.0.

Imports of automotive products registered the largest decline, largely due to the earthquake and tsunami in Japan in March.

Exports to the United States increased for the second month in a row, edging up 0.3 per cent to $26.9-billion. Imports rose 1.7 per cent to $23.1-billion in April, their highest since November 2008.

Consequently, Canada's trade surplus with the United States narrowed to $3.9-billion in April from $4.2-billion in March.

Exports to countries other than the United States fell 7.9 per cent in April to $9.3-billion, as exports to all principal trading areas declined. Imports decreased 4.1 per cent to $14.1-billion.

As a result, Canada's trade deficit with countries other than the United States widened to $4.8-billion in April from $4.6-billion in March.