Canada int'l Merchandise trade for April
Canada's merchandise trade balance narrowed to -$370 million deficit from a revised $936 million deficit in March.
- Exports rose 1.8% to $47.7 billion, led by higher exports of passenger cars and light trucks.
- Total exports rose 1.8% to a record high $47.7 billion, with advances in 8 of 11 sections.
- Volumes of exports were up 1.1% and prices increased 0.7%
- Motor vehicles and parts, energy products, and forestry products and building packaging materials drove the gain in exports
- Exports excluding energy products rose 1.7%. Year over year, total exports increased 14.7%.
- Imports were up 0.6% to $48.1 billion, on the strength of import prices.
- Total imports were also record high at $48.1 billion. This was the fifth consecutive monthly increase,
- There were gains in 7 of 11 sections.
- Prices increased 1.0%, while volumes were down 0.3%. Year over year, total imports were up 7.4%
Exports to the United States rose 5.4% to a record high $36.1 billion on the back of passenger cars, natural gas and softwood lumber.
Imports from the United States were up 1.1% to $31.1 billion.
Canada's trade surplus with the United States widened from $3.4 billion in March to $5.0 billion in April, the largest surplus since May 2014.
Canada's total merchandise trade (exports plus imports) reached a record high $95.7 billion in April. Year over year, Canada's total trade rose 10.9%. That is pretty strong.
