Canada's trade deficit edges higher

Feb. 6, 2014 at 10:47 AM

OTTAWA, Feb. 6 (UPI) -- Canada's merchandise trade deficit rose slightly in December pushed by a 0.9 percent gain in exports and a 1.2 percent gain in imports.

The monthly deficit rose from $1.5 billion to $1.7 billion as imports rose to $41.4 billion with a 1.6 percent gain in prices and a 0.4 percent gain in import volumes, Statistics Canada reported Thursday.

Exports rose to $39.7 billion as export prices rose 0.1 percent and volumes grew 0.8 percent.

Exports to the United States rose 1.2 percent while imports from the United States fell 0.4 percent.

In U.S. trades, exports rose to $30 billion while imports slipped to $27.1 billion. The figures pushed the trade surplus with the southern behemoth from $2.4 billion to $2.9 billion.

Imports from other countries rose 4.3 percent to $14.2 billion, pushed by a 38.7 percent gain in imports from Organization of Economic Cooperation and Development countries.

That was partly offset by a decline of 12.3 percent in imports from the European Union.

Exports to countries other than the United States were unchanged, StatsCan said.

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