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Canada's trade gap climbs modestly

Jan. 7, 2014 at 2:19 PM   |   Comments

OTTAWA, Jan. 7 (UPI) -- Canada's merchandise trade deficit rose by $32 million to $940 million in November from October, Statistics Canada reported Tuesday from Ottawa.

Imports "edged up 0.1 percent, while exports were unchanged," StatsCan said. Consequently, the trade gap rose from October's $908 million mark.

The gain in imports was attributed to pricing. "Prices were up 0.1 percent and volumes remained the same," StatsCan reported.

Exports held at $39.8 billion with a 0.7 percent raise in prices offset by a 0.7 percent decline in volumes.

Declines were noted in exports of basic and industrial chemical, plastic and rubber products, energy products and industrial machinery.

Exports of motor vehicles and parts rose.

Trading with the United States was marked by imports rising 0.2 percent to $27.2 billion, led by higher import of aircraft.

Exports to the United States rose 0.6 percent to $30 billion, led by motor vehicles an automotive parts.

While the trading gap overall rose, the surplus with the United States shrank from $3.1 billion in October to $2.8 billion in November.

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