Canada's Trade Deficit Jumps To $3 Billion In March

OTTAWA - Canada's trade deficit grew to a record $3 billion for March as the drop in oil prices weighed on exports, Statistics Canada said Tuesday, but economists suggested things may pick up.

"Canada's trade deficit widened to a record in the first quarter, as the weaker Canadian dollar doesn't appear to have had a meaningful positive impact yet and the U.S. economy struggled in the period," Bank of Montreal senior Benjamin Reitzes wrote in a note.

Canada’s trade gap widens, imports hit record

Canada’s trade gap widened again in June as imports grew to a record high, overshadowing a small bump in the value of exports.

The slight 0.2-per-cent rise in exports to $39.1-billion was not enough to match the 2.3-per-cent increase that pushed imports to their highest-ever recorded level of $40.9-billion, leaving Canada with a trade deficit of $1.8-billion in June, compared with $954-million in May, according to data from Statistics Canada on Thursday.

Canada’s trade gap widens in May

Canada’s trade deficit widened to $793-million in May, as imports climbed 0.4 per cent to $39.7-billion on energy products such as crude petroleum ahead of anticipated production shutdowns and maintenance.

On the heels of April’s $623-million trade deficit, May represents the second monthly deficit this year, following consistent monthly surpluses earlier in 2012 – a sign of slowdown and weakening demand in the world’s major economies, according to figures released Wednesday by Statistics Canada. Exports to the European Union fell 1.5 per cent compared with April, and nudged up slightly by 0.2 per cent to the United States.