Canada goes into trade deficit in April

June 8, 2012 at 10:53 AM
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OTTAWA, June 8 (UPI) -- Canada ended five months of international trade surpluses in April, posting a $356 million deficit, Statistics Canada reported from Ottawa Friday.

Overall exports fell to $39.1 billion while imports rose to $39.5 billion, the fifth consecutive monthly increase, the agency said.

The main contributors to the decline in exports were industrial goods, machinery and equipment.

The rise in imports was led by automotive products and consumer goods, StatsCan said.

In its report, the federal agency breaks down trade with the United States, Canada's largest trading partner, and all other countries.

With regard to U.S. trade, Canadian exports fell 1.2 percent to $28.4 billion in April, the fourth consecutive monthly decrease. Imports rose 1.3 percent to $24.6 billion.

"As a result, Canada's trade surplus with the United States decreased from $4.5 billion in March to $3.8 billion in April," the report said. "Exports to countries other than the United States decreased 1.2 percent to $10.7 billion in April, while imports declined 1.9 percent to $14.9 billion."

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